PURCHASE PROCEDURE

As in many E.U. countries property in Spain is registered on a property register.

The private contract.

When you have decided upon the property to purchase, the agreement will normally be contained in a private contract. The document should contain details of the agreed purchase price; payment of a deposit; provision for payment of the balance of the purchase monies; any extras that you have agreed to purchase and the intended date for completion together with all other relevant terms and conditions.

The Community of Owners

When there is common ownership or sharing of facilities between owners, in every development in Spain a Community of Owners must be established through which community charges can be shared. If your development is contained in an apartment block then the law is that relating to the Horizontal Division ("Ley de la Propiedad Horizontal").

Conveyance (Escritura de Compraventa)

The sale and purchase of all property in Spain requires to be registered in the Land Registry. They maintain details of the property and record financial charges and other matters which may affect the title. The Notary - el Notario - prepares the Conveyance - la Escritura. He will check compliance with Spanish law. However, the Notary does not check the title to the property, although he will make a check at the Land Registry immediately prior to the signing of the Escritura to ensure that there are no undisclosed charges on the property.

Once the formalities have been completed before the Notary, the Escritura Pública must be delivered to the Land Registry for title to be recorded in the Registry of Property - Registro de la Propiedad. Before doing so, however, it is necessary to ensure that all taxes have been paid.