Purchase and sale of property in SpainWelex Lawyers2020-07-08T09:05:21+01:00
LEGAL ADVICE FOR PURCHASE AND SALE OF SPANISH REAL ESTATE
Welex relies on a professional team of English-speaking property lawyers and accountants, amongst others. All of them are experts in providing comprehensive consultancy services relating to the purchase and sales of real estate in Spain, not only from a legal point of view but also covering tax aspects.
GAIN SECURITY AND PEACE OF MIND using the conveyancing services of our law firm in Marbella.
Read heremore than 100 blogs that our law firm in Marbella has already written under the subject relating to all times of property transactions in Spain.
Obtain a secure purchase or sale process by using the services of our property lawyers in Spain, and enjoy the support of professionals who guarantee you personalised and accurate advice, considering the specific circumstances of each transaction.
WELEX: EXPERT PROPERTY LAWYERS IN SPAIN
The conveyancing services of our law firm in Marbella provide you the perfect guidance in each and every stage of the purchase, including, for example:
Study of all documentation related to the property.
Advice in drawing up and signing the private contract.
Analyses of all payments related to the property to determine any possible debts and encumbrances.
Preparation of the public title deed to be signed before the notary public and assistance during the signing thereof at the notary.
Information about and payment of the taxes deriving from the purchase.
Registration at the corresponding land registry of the title deed.
Likewise, in case you sell your Spanish property, we provide you with meticulous information about all costs and taxes, and we attend you in their payment and in obtaining all the documentation necessary to adequately finalise the sale of your property. We conduct the following procedures, amongst others:
Payment of the tax on the increased value of the land, the so called Plusvalía.
Capital gains tax deriving from the sales of the property.
Income tax of non-residents.
Application of the certificate at the community of owners.
Application of the energy-efficiency certificate.
OUR COMMITMENT: EFFICIENCY AND TRANSPARENCY
At Welex, from the very beginning of your approach to us, you receive a breakdown of costs and taxes applicable so you have all the information from the start and no unforeseen costs or setbacks will delay or impede the transaction.
Welex has a team of expert property lawyers at your disposal offering legal security, experience and impartiality to defend your interests. They are committed to demonstrating their efficiency and transparency.
Do you want to sell a property in Spain? Read the recommendations of Welex, an independent law firm specialising in advising on real estate transactions in Spain, your conveyancing lawyers in Marbella.
To sell a property in Spain it is important to be well advised – throughout the process – by a trusted professional who knows all the ins and outs of Spanish law and the necessary documentation.
In the opinion of a professional from the Welex Legal and accountancy Firm in Spain, the success or failure of a sale sometimes depends on having the right advice, who knows the real estate market and the taxes to be paid with certainty.
Spanish legislation protects consumers who purchase real estate in Spain by requiring the developer to provide certain information. This matter is regulated by Royal Decree 515/1989 of April 21, which includes information and documentation that must be provided to the user in the acquisition of a home.
Acquisition of a new property in Spain
In any case, the characteristics provided to the buyer, such as information about its construction, location, services and purchase payment method are mandatory.
The seller must provide the following information to the buyer:
In this article we will highlight the essential aspects that are included in a Purchase Sale Deed granted before a Spanish public notary.
The purchase sale Title Deed in Spain includes the following content:
1st.- The protocol number assigned to the same, place and date of granting and identification of the notary before whom it is signed
2nd.- The appearance, where the selling and buying parties are identified, including the data of their nationality, address, profession, D.N.I., passport number and NIE number.
3rd.- The intervention, where it is stated on behalf of who the parties appear, and the ability they have to intervene in the deed, as well as their legitimacy, in case they act on behalf of other parties.
4th.- The exposure or manifestations of the parties, where the following is included:
By Welex, multilingual conveyancing lawyers in Marbella. We have to please to lineout some words with regards to the new mortgage law in Spain. Please see previous blog written by one of the conveyancing lawyer in Marbella of WeLex, motivated Lawyers in Marbella and accountants in Spain.
New Mortgage Law in Spain
Let us now see some news included in the new mortgage law in Spain and that to a greater or lesser extent will affect the granting of mortgages in Spain:
Spanish mortgage constitution expenses
The new mortgage law in Spain (article 14) establishes a new distribution of expenses and taxes at the time the mortgage is set up. Thus, they will be aware:
From the banking entity/creditor: the expenses derived from the notary, registry, agency, the tax of documented legal acts and a copy of the Deed.
From the comsumer: the valuation costs and a copy of Mortgage Title Deed in Spain
To learn a bit more on the extinction of a usufruct in Spain, your multilingual lawyer in Marbella of WeLex would first like to define the so-called ‘usufructo’.
Extinction of usufruct in Spain.
Definition of usufruct in Spain.
Usufruct is defined in the Spanish Civil Code by means of Article 467. The owner of a usufruct property in Spain should keep it in good shape unless the owner of the ‘bare-ownership’ (known as nuda propiedad) authorises otherwise.
Generically, the usufruct is the right to enjoy a property and the duty to preserve same.
Our law firm in Marbella is pleased to fully inform you about revoking a power of attorney in Spain, what to do when signing a deposit agreement in Spain and a brief explanation of the Urban Leasing Law.
Revoke a Power of Attorney in Spain.
How to revoke a Power of Attorney in Spain.
If you have given a Power of Attorney before to a notary in Spain for the proxy to act on your behalf by exercising the powers contained in the power of attorney, please note that you may revoke the power of attorney at any time.
Please note that once the transaction for which you have given power of attorney has been concluded, it is even advisable to grant a deed of revocation of that power of attorney in Spain.
This revocation deed can be signed before any notary in Spain, and the revocation will be notified by the notary to his representative whose power of attorney is revoked, so that he is aware of and cannot use the powers previously granted, included in the power of attorney now revoked.
Welex, your expert property lawyer in Marbella, has the pleasure to write some lines with regards to the Spanish law of urgent measurements for the environmental and territorial adequacy of irregular buildings in Andalucía, Spain.
Do you wish to sell or purchase a property in Spain? Who needs to pay the Real Estate Tax, the Spanish IBI, that same year?
This matter is being regulated in the Law for Local Tax Offices, which establishes that the taxable event of this tax, the ownership is of the property right, amongst others, on rural and urban properties.
For purposes of this tax in Spain, rural and urban properties shall be considered in accordance with the definition that is given in the regulations of the Property Cadastre or Land Registry.
First, we would like to differentiate between properties that are acquired directly from the developer or under construction and the properties of second transmission, depending on whether it is one or the other properties referred, we will request to the vendor different documents.
In this blog we are going to focus on Spanish properties of second transmission.
The most important documentation that our office advises to request to the seller or his legal representative before acquiring a property is the following:
Welex is an urban planning law firm in Marbella. Andalusia’s urban plan establishes a deadline of six years for the adoption of measures to protect urban legality and restore the disturbed legal order of buildings constructed outside the law. After this period, the administration cannot act on these buildings.
However, this time limit (6 years) was not applicable to acts and uses of urban sub-divisions of lands on undeveloped areas, the administration being entitled to act at any time to take measures to restore the legal order.
This situation created uncertainty in those existing buildings in urban subdivisions of land that did not have the status of urban settlement and that could not obtain recognition of the situation designated “out of planning” (asimilado al fuera de ordenación).
When purchasing a property in Spain, in addition to the purchase price, the buyer must take into account the taxes and expenses that they will incur at the time of buying a property.
First, we must differentiate between a new property purchased for the first time (new building), and a property that has already been previously purchased by another buyer.
In this blog we will focus on the expenses and taxes on second transmission properties.
The purchaser of a property in Andalucía will incur the following expenses:
The main Spanish tax that the buyer will face is the Transfer Tax in Spain. In general, in the transfer of a property in Andalucía, the tax rate is calculated by applying to the taxable base the rate resulting from the following rate:
In order to understand the concept of the new building declaration and its importance, we will give some simple examples.
Let’s imagine that you own a property or plot of land in Spain, and you think that it is time to construct a dwelling on it. In order to make sure that everything is in legal order and that you can do the work, it is necessary to comply with all of the formalities to legalise this construction, which will result in a new building as new building declaration indicates.
Nevertheless, this same situation may also be necessary to expand your own business or shop, thus requiring new infrastructure. Here too, you will deal with a ‘new building declaration’.
Do you need legal advice about a property in Spain?
Welex has a team of professionals, composed, among others, of lawyers and economists, experts in the purchase and sale of real estate, both in the legal and fiscal sides of the transaction. Clarify your doubts, do not wait to ask for advice. Contact our offices without any commitment, we will be willing to help you.
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