When acquiring a property (for purchase, inheritance or donation, for example) in Spain, it is highly advisable to proceed with the registration of said acquisition in the Property Registry.
Información detallada
What is the Land Registry?
Land Registry seeks registration or annotation acts, contracts, judicial or administrative decisions, affecting property and other rights in real estate property.
In Spain, Land Registry provides legal security to the people with registered rights, and favours the security and agility of the legal traffic when purchasing or selling a property.
The Property Registry makes public the facts, acts and rights registered for those who have a legitimate interest in knowing them.
Registration of a document in the Land Registry
The inscriptions made in the Land Registry can be of a notarial, judicial or administrative nature, only in a few exceptions are private documents admitted.
The procedure is initiated by the person interested in making the registration. Access of registrable facts to Land Registry is voluntary, except in the case of the mortgage, that must be inscribed in any case. Anyway, is highly recommendable to proceed when purchasing a property to inscribe it in order to protect the rights acquired and prevent for example that the same property could be sold to a third person.
There are several ways to make the presentation in the Registry, it can be by telematic means (it will be done by a notary), by mail, by fax or in person, when being sent in any other way that is not physical, the original document or deed must be presented in person. It is recommended to have the help of a lawyer to properly perform all registration procedures.
More about the process of the Registration of property
The first step will be provisional registration in the so-called Daily Book through a presentation seat for a period of 60 working days.
Subsequently, the Registrar will give qualification to said document within a period of fifteen business days. If the registration is approved, it is carried out and when the registration has been made the document is returned to the applicant containing a footnote with the Registrar’s signature.
When the registration has not been approved it is because the Registrar found a defect in the document, and must specify what are the Legal Basis and the Facts that justify this rejection, which will be notified to the person who requested said registration as well as the Notary who authorized the Deed or, where appropriate, the Authority from which the deed originated.
An extension for sixty days of the Entry Submission will be given by the Registrar as of the last notification. When the registration is rejected, the applicant can choose between the correction of the defect, in the event that it is rectifiable or it is also possible to choose to appeal the decision of the Registrar.
Precisely to avoid this last situation is advisable to have the assistance of a real estate lawyer during the process to ensure the proper registration of our title in the Registry, which is vitally important to be able to dispose, sell, mortgage, inherit … our property.
What Property Registry corresponds to me?
The documentation must be presented in the Property Registry corresponding to the place where the property is located.