Article supplied by Welex Lawyers & Accountants

The first step in property conveyancing in Spain is finding a property. It is imperative to get to know the area before you choose a property. You should visit a number of different locations in order to make an educated decision. Additional research into similar properties in various areas will give you different perspectives of what you can anticipate in terms of price. The second step in property conveyancing in Spain is choosing an expert property lawyer. A lawyer in Spain can impart extremely useful advice from the initial stage of the purchasing process. Your expert property lawyer will make enquiries to ensure that all the parties involved, including the seller or developer, are acting legitimately. A lawyer will take the necessary measures to safeguard that all the Spanish legal requirements are met. Additionally, a legal firm will ensure that the property is free of any encumbrances that could affect your use of the land. You will also need to ensure that there are no outstanding debts for local taxes or service charges attached to the property.

The purchasing process in property conveyancing in Spain includes:
1. Finding a property and preparing to buy
2. Legal process – step-by-step
3. Calculating the costs – fees and taxes
4. Equating various other expenses

Step 1: Negotiating the purchase
Step 2: Reservation contract and deposit
Step 3: Private purchase contracts
Step 4: Completion
Step 5: Registration of title deeds

The selling process in property conveyancing in Spain includes:
1. Obtaining necessary documents
2. Calculating the costs – fees and taxes
3. Calculating service charges
4. Calculating annual Real Estate Tax (IBI)
5. Establishing property owners’ imputed income tax

Other legal matters pertaining to property conveyancing in Spain include:
1. Obtaining NIE identification number
2. Making a will in Spain
3. Inheritance tax
4. Minimising your liability for inheritance tax
5. Investment opportunities in Spain

Ensuring that you have all the necessary documents will expedite the legal process of property conveyancing in Spain. You should register the following documents with your lawyer or estate agent when you place your property up for sale….

· A copy of the Title Deed (Escritura Pública)
· A copy of your latest Real Estate Tax receipt (Impuesto sobre Bienes Inmuebles – IBI)
· A copy of the Rateable Value Certificate (Certificado Catastral). This contains your property’s official reference number (Referencia Catastral) with mthe Land Registry and gives a complete description of the property
· A copy of your latest Spanish Income Tax declaration (Declaración de la Renta)
· A copy of your Residents’ Association payment details (Comunidad de Propietarios)
· A copy of all your current utility bills

Welex Lawyers & Accountants
C/ Ramón Gómez de la Serna 23, Local 7, Marbella Tel. (+34) 952 775 521 · ·

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