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Essential information about the Land Registry process in Spain
A Nota Simple serves to have the maximum information about an individual property. It is one of the steps that can be performed in the land registry and through the buying process. In this post we explain more about this process.
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One of the steps that any Real Estate Agent provides for its clients is to request the Nota Simple on the property. It is a document that is very important to know many things like the true ownership of the property and if there are outstanding debts. This is one of the most common procedures carried out in the Land Registry and can also be done by your solicitor as part of the conveyancing process.
The Land Registry is a public institution that is responsible for creating entitlements on real estate, aiming to ensure the legalities and security of the property. Through this domain and other parts of the process, the property rights are acquired, avoiding potential problems moving forward. In the following article we will give relevant information on the registration of the property.
What can you find in the land registry of property?
Any action that relates to the purchase of a property and the current situation including sale, mortgage, other debts etc.
Is it compulsory to register the property in the Land Registry?
It is not compulsory but does guarantee the legal security to the owner, who sees their rights can be protected in the courts for any problems. In addition, a property registration document provides other information like inheritance issues.
It should differentiate the Land Registry Cadastre, which is an administrative register that must register all properties with a corresponding description (country, city ...).
What does it cost to register a property in the Land Registry?
There is no fixed cost, but varies according to the value of the property, depending on the location and other characteristics. The rates are approved by the Government and are available on the Official Gazette. The simple data sheet, which verifies who the owner and proprietor of the building is, normally can be obatined on the same day as the application or latest the day after.
The validity of the registration of a property does not have an expiration date, so does not need to be updated.
In what cases it is advisable to consult the Land Registry?
When you go to buy a property, you should go to the Land Registry to know who really owns the property and if there are any outstanding debts. This is important because once the property becomes your´s then any outstanding debts are inherited by the new owner. Again, this is an important aspect of the legal process and your solciitor will ensure any debts are cleared prior to signing the property over to you.
How much does it costs to obtain this information?
The amount of this service, according to information provided by the Association of Registrars of Spain, is €9.02 euros, to obtain a copy of the Nota Simple. The taxes are not included in this amount.
What value does a Nota Simple have from the Land Registry?
It has a purely informative value, which limits it´s use. If it takes a document with character certificate, you must request a Nota Continuation. Fort he Nota Simple, you can order via the Internet; while obtaining a Nota Continuation you must physically go to the registry.
What data is required to apply for the Nota Simple?
The quickest way to ask for a Nota Simple is to provide the registered number of the property and the registry where the property has been registered. Failure to provide this data data, means we must provide at least the DNI, NIE or CIF of the owner of the house and the same address (street, number and town).
If you are looking for a property either a new build or resale in Costa Blanca and / or Costa Calida, then please contact Complete Spanish Property. Since 2003, we have been helping clients throughout Europe and further afield to buy the home of their dreams in the Mediterranean. Our experience allows us to understand our clients needs, to be able to provide detailed and professional advice throughout the process.