Attending before a Notary is the final stage in the purchase/sale of the property with the signing of the Escritura Publica de Compraventa and every title deed signed by both the seller and purchaser has to be completed in front of a Notary, who is essentially an official witness. It may be that either the buyer or seller provides a Poder (Power of Attorney) to a trusted representative to sign on their behalf.
Having completed the purchase, the Abogado then organises for the property to be registered in the name of the new owner. At this stage a number of property transfer taxes will have to be paid, together with the property register fees including the Notary’s and Abogado’s fees. The Spanish government fixes the Notary’s fees. A copy of the Escritura will be returned to the owner by the Property Register within about three months bearing the official stamps that confirm the property is yours and that your ownership is protected by law.
© The Rights Group SL 2006 (Marbella)
Mark FR Wilkins
www.therightsgroup.com (under review)
+34 600 343 917
Please note that the information provided in this article is of a general interest nature and intended as a basic outline only. You are well advised to contact a professional for advice specific to your circumstances. Nothing contained in this article should be seen or taken as the writer or publisher providing legal or financial advice.