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What about if the the property I choose is not registered in the Land Registry. There are two situations: a) The land and the dwelling are not registered in the Land Registry The seller must register the property firstly in his name in the Town Hall, obtain a Cadastre certificate and inscribe in the Land Registry. The problem is that your property will not fully protect by the Land Registry during two years against a third party who claims b) We have to register the dwelling at the Land registry, but as this is not a first registration your title will be protected thereafter from the moment of purchasing. You have to check if the property has planning permission in the Town Hall Does a bank grant a mortgage to me if I have a property not registered ? It is quiet impossible because the banks only admit public documents like purchase deed or properties registered in the Land Registry. Spanish Law gives preference and a special efficiency in terms of its enforcement, to a credit that is construed in a public deed. What are the contracts who Spanish law obligate to do in notarial instrument and after inscribe in the Land Registry ? What happens if I do not inscribe a compulsory situation in the Land Registry ? You will not have the guarantee of legitimacy and this new situation of the property would not be recognized against third party. What documents are normally inscribed in the Land Registry ? Conveyance, inheritance, rights of way, easement of light, freezing orders, land segregations, urban encumbrances. What happens if between I obtain a nota simple and I sign the purchase contract the vendor inscribe a new charge in The Land Registry or modify the legal status of the property ? This new encumbrances be attached to the property, for this reason is convenient to subscribe request continual tracking until completion date, but normally the notary obtain a new nota simple on the day that the documents are signed, in order to confirm that the ownership and charge details have not changed since the last enquiry. What kind of charges can I find in my future property ? You could find usufructs, mortgages, ground rent or leasehold payments, restrictions on use, fines, or even court orders for distraint or seizure. Could I claim if after sign the purchase contract I realize that the real area of the property is less than the Registry Land contained ? You could not. The sale of a property in Spanish Law is based in the concept of ad -corpus not ad - measure: you buy the property you visited and when the contract is signed you can not claim if you find out that the area is less than the indicated in the deeds or in the land registry Must I respect the rights of tenants after buy the property even I did not know about this situation ? Yes, you must. Could I buy a property with mortgages or any charges ? Yes, you could, but previously the vendor have to cancel this charges and after register the changes in the Land Registry. You always have to buy your property free of land charges. You also could subrogate in the mortgages. You have to request a bank certificate with the amount that owe. What does happen if for any circumstance the seller in bad faith was not reflecting in the deed the existence of any debt or load of the property ? The buyer can ask for the resolution of the contract of sale, unless he prefers damages. The term to exercise this action of rescission of the contract is one year counting from the deed´s signature. What happens when the same property is sold by his owner to different buyers ? The property will belong to the first one that registers his purchase in the Land Registry or will be proprietary the one that inscribe before prior tempore, potior iure. |