| Term |
Description |
| Abogado |
Solicitor |
| Actos Juridicos
Documentados (AJD) |
Stamp duty |
| Community
Administrator |
Check for any outstanding
fees that need to be taken into account |
| Contrato
de Compraventa |
Contract of sale, this is
signed when the 10% deposit is paid, check 'completion
time', Escritura value, Furniture inclusion and other
conditions of the sale
|
| Copy of Escritura |
This will be certified copy
of the title deed |
| Cuotas de
comunidad |
Community service charges
|
| Escritura
Publica de Compraventa |
The title deed. This will
show who the true owner/s are and define exactly what
is being purchased
|
| Escritura
value |
Purchase price of the property
and content value |
| Hacienda |
(Tax Office) Checks there
are no outstanding taxes and that previous wealth tax
submissions were made |
| Impuesto
Sobre Transmisiones Patrimoniales (ITP) |
Property Transfer Tax |
| I.V.A. |
VAT |
| Legal Definition
of the property |
Exactly what is being sold
- (bit embarrassing to buy a villa, and then find the
deeds don´t include the land it stands on) |
| Liabilities
and debts |
The extent of any borrowings
or liabilities, if any, guaranteed by the property and
any outstanding debts on the property. |
| Nota Simple |
An extract from the title,
which confirms current ownership and shows any mortgages
or embargoes on the property. Available from the land
registry |
| Notario |
The public impartial witness
(Notary) |
| Plus Valia |
Capital Gains tax on land |
| Registro
de la Propiedad |
The land registry |
| Town Hall |
Checks that the annual Municipal
rates have been paid up to date
|
