Deed of a property | Áurea Inmobiliaria – Real Estate Agency in Los Alcazares

WHAT IS THE DEED OF A PROPERTY?

The most important document when you buy a property is the deed, because it is the confirmation of the purchase of the property. The deed is signed by the buyer, the vendor and the notary, which is the one who must say that this process is legal. The notary can be chosen by the person who buys the property.

Once that both parts have come to an agreement, a purchase contract must be signed and afterwards, the deed of the property must be signed. In order to be able to do this, the notary must do some steps to transmit the ownership:

• Making sure that registration in the property registry is right.
• Formalising the property deed.

Apart from these steps, when the deed of a property is made it is important to know the burdens it has and that the IBI – Council Tax – has been paid. It is also essential to know the fiscal duties when purchasing and the notary fees. The whole document must be read before it is signed.

WHAT IS NECESSARY TO MAKE THE DEED OF A PROPERTY?

The information needed to sign the deed of a property is the following:

• The person who sells.
• The person who buys.
• The notary.
• The property itself.

ADVANTAGES OF HAVING THE DEED OF YOUR PROPERTY

There are many advantages because there it is possible to find the rights and duties of the actual owners. For example:

• It makes quicker the transmission of the property.
• It is an evidence if there is fraudulent risk.
• It avoids any kind of legal problems.
• It gives legal security to the current law.

OTHER IMPORTANT DOCUMENTS

The transmission of a property from the vendor to the buyer can be a long process because many documents are essential in order not to have future problems. One of them is the tax on capital transfers.

Another important document is the First Occupation License or the Occupancy Certificate – in case of second hand properties – which are necessary to have electricity, gas or water.

These documents are important to have a legal property. If for any reasons the buyer will notice that any of these documents is missing, they need to tell the notary so it is sorted out.

 

If you have any doubt about how to make the deed of a property, don’t hesitate to contact our real estate agency in Los Alcazares. We will help you with any doubt you have. We have many

 

SOURCES:

Las escrituras de una casa

La escritura pública de la casa: qué hay que leer y entender

Porque es importante escriturar