I am sure many readers will have come across situations in Spain where the surface area of a
property registered at the Land Registry does not correspond with the reality. Up until fairly recently it was common practice, particularly in rural areas, to reduce the surface area of the property in the deed, when transferring the property, in order to pay less tax on the transfer. This has resulted in a large amount of properties, extended across the country, which are incorrectly registered in the Land Registry.
This detail is something that must be seriously considered when buying property in Spain.
Whether you are selling or buying property in Spain certain requirements must be met and procedures followed to ensure the purchase complies with Spanish Law and regulations.
Legal representation and assistance is particularly necessary in Spain when purchasing or selling property. The Conveyancing process in Spain involves different degrees of participation by various parties: the seller, their legal representative, the real estate agent, the accountant, a notary public, the registrar, utilities companies, the town hall, banks, and in some cases the local courts, regional authorities, etc. Continue reading