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Buying property in Spain
The first thing that a foreign buyer who wishes to acquire a home in Spain needs to know is that not only is the system of property in Spain is different from that of their country of origin, but the procedure and professional commitment also differ significantly.
The Lawyer
In Spain is not obligatory to have the intervention of a lawyer for the purchase of a property, but it is strongly advisable. The Spanish lawyer takes the role of the "barrister" and the "solicitor", being able to write all types of private contracts, although these will have no value in the Property Registry. These private contracts shall be binding agreements between the parties, but not enforceable against third parties who have a registered right. The purchase of a property in Spain, begins with a private contract so it will be a great help for a professional like a lawyer to draft the documents.
The following will also help you: check that all necessary permits are correct, that the property of the Real Estate Tax, the community fees of owners, and if it is subject to leases or rentals. In the case of new housing, the dwelling has its situation resolved in relation to: urban charges, building permit, habitability certificate and first occupancy license. It is advisable to check that the lawyer is covered by a Professional Liability Insurance.
The Public Notary
It is possible to buy a home without the participation of a lawyer, but the involvement of a notary is essential. A Deed can usually be registered in the Property Registry if it has been previously signed and authorised by and before a Notary Public. The notary in Spain is a completely independent component of the two parties involved in the transaction.
The NIE number
In order to carry out this type of transaction, the foreign buyer will have to request an identification number from the General Directorate of Police. This number is necessary to be able to pay taxes, open bank accounts and to contract services or buy and sell property. Another way to get this NIE number is to go to the Spanish Consulate in your own country hence avoiding any potential nuisances.
Tax payment
The payment of transmission taxes must be made within the month following the signing of the Public Deed to avoid penalties. If the property that is being acquired is a first transmission house, it will be necessary to pay the VAT (Value Added Tax) directly to the seller; In this case no payment of any transmission tax will be required, although the stamp of the deed (1%) will have to be paid. In the case of buying a second transmission home, will have to pay the Tax on Patrimonial Transmissions.
Civil Law
Penal Law
Bankruptcy Law
Commercial Law
Banking Law
Administrative Law
Tax Law
Laboral Law
Urban planning services
Real estate legal services
Buying property in Spain
The first thing that a foreign buyer who wishes to acquire a home in Spain needs to know is that not only is the system of property in Spain is different from that of their country of origin, but the procedure and professional commitment also differ significantly.
The Lawyer
In Spain is not obligatory to have the intervention of a lawyer for the purchase of a property, but it is strongly advisable. The Spanish lawyer takes the role of the "barrister" and the "solicitor", being able to write all types of private contracts, although these will have no value in the Property Registry. These private contracts shall be binding agreements between the parties, but not enforceable against third parties who have a registered right. The purchase of a property in Spain, begins with a private contract so it will be a great help for a professional like a lawyer to draft the documents.
The following will also help you: check that all necessary permits are correct, that the property of the Real Estate Tax, the community fees of owners, and if it is subject to leases or rentals. In the case of new housing, the dwelling has its situation resolved in relation to: urban charges, building permit, habitability certificate and first occupancy license. It is advisable to check that the lawyer is covered by a Professional Liability Insurance.
The Public Notary
It is possible to buy a home without the participation of a lawyer, but the involvement of a notary is essential. A Deed can usually be registered in the Property Registry if it has been previously signed and authorised by and before a Notary Public. The notary in Spain is a completely independent component of the two parties involved in the transaction.
The NIE number
In order to carry out this type of transaction, the foreign buyer will have to request an identification number from the General Directorate of Police. This number is necessary to be able to pay taxes, open bank accounts and to contract services or buy and sell property. Another way to get this NIE number is to go to the Spanish Consulate in your own country hence avoiding any potential nuisances.
Tax payment
The payment of transmission taxes must be made within the month following the signing of the Public Deed to avoid penalties. If the property that is being acquired is a first transmission house, it will be necessary to pay the VAT (Value Added Tax) directly to the seller; In this case no payment of any transmission tax will be required, although the stamp of the deed (1%) will have to be paid. In the case of buying a second transmission home, will have to pay the Tax on Patrimonial Transmissions.
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