ALICANTE
MARQUES DE CAMPO 58 piso 5 puerta 9 DENIA
ALICANTE
VALENCIA
REINA 21 XATIVA
VALENCIA
TL. 678873844 www.blancolawfirm.com
The procedure to purchase a property in Spain is different from the rest of European countries as far as legal and registering aspects are concerned.
Purchase and sale contracts are governed by articles 1445 to 1537 of Spain’s Civil Code. These articles establish the purchase and sale concept, who are entitled to purchase and sell, the obligations of both purchaser and seller and the causes of contract resolution. Some of these articles must obligatory be enforced while other are not obligatory. In this latter case, the parties can freely establish the agreements and clauses of the contract, according to their wish.
Purchase and sale contracts can be made either in writing or verbally (article 1278 of Spanish Civil Code). However, it is advisable to make them in writing, particularly if the object of the purchase and sale is a property.
Purchase and sale contracts are fully valid between the contracting parties and their heirs, provided that the following requirements are fulfilled:
Consent of the contracting parties.
Object of the contract.
Purpose of the contract, where the actions to be performed by the parties are described. Seller: delivery of the object and its detailed description. Purchaser: payment of the price including detailed amount.
The main difference between a private contract and a public title deed is that the public title deed has direct access to the Registry of Properties and, once registered, the name of the owner will be recorded and his or her right with respect to the property will then be protected not only against the seller but also against any third party who might claim rights upon the property.
Prior to signing any private contract of purchase and sale with a promoter or individual, it is very convenient to appoint a professional (Lawyer) who will be able to check the content of the contract and give legal advice to the purchaser.
There are some legal searches that has to be done before sign any contract:
1.-Land registry. In the land registry the you can get the nota simple where appear the debts and the square meters of the house. www.registradores.org/
2.-Catastro.In the catastro you can get the map of the property and has to be the same that in the land registry. Here you have to ask for la Plusvalia tax that has to be paid by the owner of the property so the buyer has to do a retainer to pay this taxes. HYPERLINK "http://www.catastro.meh.es/" www.catastro.meh.es/.
3.- The townhall. Here you can get an urban inform of the property in that inform will appear if exist any infraction on the property, if the house has permit to live there (cedula de habitabilidad) ,if there are any urban plan in the area….
It is advisable also to have an appointment with arquithec of the townhall.
Likewise, he will ensure that the method of payment is adequate and that the penalty clauses imposed on the parties for breach of contract are fair for both parties (for instance, if the penalty for delay in a payment is fair compared to that imposed on the seller for delay in the delivery of the property).
Once the lawyer has ensured that the contract complies with all the abovementioned guarantees, it can be signed and the payments made, according to what has been agreed.
Finally, at the same time or after the final payment is made, the purchaser will be entitled to formally complete the purchase by signing the public title deeds before a Notary Public.
If the vendor is not resident the buyer must to get a retainer of the 3% of the value of the property. The taxes for the vendor are 19% on profits.
The person who acquires the building, whether resident or non-resident, is obliged to withhold and deposit with the Public Treasury 3% of the consideration agreed. For the seller this amount constitutes a payment on account for the tax on the income arising from the transfer. Therefore, the purchaser will give a copy of form 21, used to deposit the withholding, to the non-resident seller, so that the seller can deduct this withholding from the tax to be paid as a result of the tax return including the capital gain. Should the amount retained be greater than the tax liability, it is possible to obtain a refund of the difference.
In the event that the withholding is not deposited, the building will remain liable to payment of the lower of the amount of the withholding or payment on account and the corresponding tax
:lawyerblanco@yahoo.es
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MARQUES DE CAMPO 58 piso 5 puerta 9 DENIAALICANTE
VALENCIA
REINA 21 XATIVA
VALENCIA
TL. 678873844 www.blancolawfirm.com
The procedure to purchase a property in Spain is different from the rest of European countries as far as legal and registering aspects are concerned.
Purchase and sale contracts are governed by articles 1445 to 1537 of Spain’s Civil Code. These articles establish the purchase and sale concept, who are entitled to purchase and sell, the obligations of both purchaser and seller and the causes of contract resolution. Some of these articles must obligatory be enforced while other are not obligatory. In this latter case, the parties can freely establish the agreements and clauses of the contract, according to their wish.
Purchase and sale contracts can be made either in writing or verbally (article 1278 of Spanish Civil Code). However, it is advisable to make them in writing, particularly if the object of the purchase and sale is a property.
Purchase and sale contracts are fully valid between the contracting parties and their heirs, provided that the following requirements are fulfilled:
Consent of the contracting parties.
Object of the contract.
Purpose of the contract, where the actions to be performed by the parties are described. Seller: delivery of the object and its detailed description. Purchaser: payment of the price including detailed amount.
The main difference between a private contract and a public title deed is that the public title deed has direct access to the Registry of Properties and, once registered, the name of the owner will be recorded and his or her right with respect to the property will then be protected not only against the seller but also against any third party who might claim rights upon the property.
Prior to signing any private contract of purchase and sale with a promoter or individual, it is very convenient to appoint a professional (Lawyer) who will be able to check the content of the contract and give legal advice to the purchaser.
There are some legal searches that has to be done before sign any contract:
1.-Land registry. In the land registry the you can get the nota simple where appear the debts and the square meters of the house. www.registradores.org/
2.-Catastro.In the catastro you can get the map of the property and has to be the same that in the land registry. Here you have to ask for la Plusvalia tax that has to be paid by the owner of the property so the buyer has to do a retainer to pay this taxes. HYPERLINK "http://www.catastro.meh.es/" www.catastro.meh.es/.
3.- The townhall. Here you can get an urban inform of the property in that inform will appear if exist any infraction on the property, if the house has permit to live there (cedula de habitabilidad) ,if there are any urban plan in the area….
It is advisable also to have an appointment with arquithec of the townhall.
Likewise, he will ensure that the method of payment is adequate and that the penalty clauses imposed on the parties for breach of contract are fair for both parties (for instance, if the penalty for delay in a payment is fair compared to that imposed on the seller for delay in the delivery of the property).
Once the lawyer has ensured that the contract complies with all the abovementioned guarantees, it can be signed and the payments made, according to what has been agreed.
Finally, at the same time or after the final payment is made, the purchaser will be entitled to formally complete the purchase by signing the public title deeds before a Notary Public.
If the vendor is not resident the buyer must to get a retainer of the 3% of the value of the property. The taxes for the vendor are 19% on profits.
The person who acquires the building, whether resident or non-resident, is obliged to withhold and deposit with the Public Treasury 3% of the consideration agreed. For the seller this amount constitutes a payment on account for the tax on the income arising from the transfer. Therefore, the purchaser will give a copy of form 21, used to deposit the withholding, to the non-resident seller, so that the seller can deduct this withholding from the tax to be paid as a result of the tax return including the capital gain. Should the amount retained be greater than the tax liability, it is possible to obtain a refund of the difference.
In the event that the withholding is not deposited, the building will remain liable to payment of the lower of the amount of the withholding or payment on account and the corresponding tax
:lawyerblanco@yahoo.es
solicitors costa blanca ,solicitors services costa blanca ,lawyers costa blanca ,lawyers in valencia spain ,divorce lawyer costa blanca ,costa blanca law firms ,legal advice costa blanca ,spanish lawyers costa blanca ,spanish wills ,spanish inheritance tax ,inheritance tax in spain ,inheritance laws spain ,spanish probate ,spanish property solicitor ,property lawyers costa blanca ,spanish property lawyers ,property lawyers spain ,legal advice spanish property ,commercial dispute specialists ,commercial dispute services ,spanish legal advice ,buying a house in spain ,spanish attorney ,spanish legal services #xativa #denia #onteniente #jalon # canals #enguera #gandia #moraira #pedreguer #pego #oliva #ondara #laxara #alcira #albaida #tabernes #genoves #alcoy#benigamin #orba #parcent #benidorm #altea #valencia # Alicante #inland
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