Spanish Terms: What is an “Escritura”?
In order to valid and lawful, any property title deeds in Spain must be signed and authorized by a Spanish notary. After this, they can then be registered in the Land Register and are the legal proof of the ownership and characteristic of any property.
In the deeds of your property are stated the following details:
* The names and identification of both parties (the seller, the buyer, fiscal representation, lawyers, translators, etc)
* A complete description of the property.
* Proof that the seller is officially registered in the Land Register as the owner.
* The value of the property.
* Any burdens attached to the property.
* Certificate that payment of any community charges is up to date.
* The sale price and method of payment.
The notary is responsible for reading and explaining the deeds in the presence of both (the buyer and the seller) before the deeds are signed and he must be sure that the information is correct.
The most common practice in Spain when buying a property is first of all, sign a private purchase contract before the deeds. Once the deeds are signed, the notary can send the information to the Land Register for the details to be officially recorded.
The close collaboration between the notaries and the Property Ownership Register means that there is little room for fraud or errors and offers peace of mind to the buyer that the sale is legitimate and the property is free of any hidden burdens.
Nevertheless, no system is perfect and anyone considering buying property in Spain is advised to use the services of a lawyer who will check all the details before the deeds are signed.
We can offer you our experience and professionalism. Contact us in ABC Solicitors.