Q. WHAT KIND OF PROCESSES TAKE PLACE IN THE NOTARY OFFICE?
A.
Different purchase processes in Spain take place at a Notary, the equivalent of a Solicitor´s office in the UK and Ireland. Appointments are made for the required time and if the persons completing a transaction are not Spanish speakers, a Translator is required to be present at the same time. Spanish Solutions can offer assistance, translation and representation with all Notary processes.
PURCHASING/SELLING PROCESS
To complete the transaction of buying/selling a house, many people are required to be present – the Notary, the Buyers, the Sellers, the buyer’s Bank (if a mortgage is required) and the seller’s Bank (if they have a mortgage that has to be cancelled). That means a lot of people to get organised for the same day with different purposes.
In certain circumstances, the Buyer or the Seller will give Power of Attorney to a third person, meaning that the Buyer or Seller does not have to be present on the day of the transaction, however the person who holds Power of Attorney must be there to represent them. Spanish Solutions can hold Power of Attorney for clients wishing representation.
The new Escritura (Title Deeds) is printed and should be translated to the buyers and sellers. Then both parties present themselves in front of the Notary, who will read the Escritura again, and if everyone is in agreement, the Escritura is signed by the Purchasers, the Sellers, the Translator and the Notary.
Once everything is signed at the notary, then all the LEGAL FEES have to be paid in order to get the title deeds registered (this process may take from 4 to 6 months).
If there is a Spanish mortgage on the property, then it must be the Bank’s solicitor who deals with the title and mortgage deeds registration.
Spanish Solutions can provide the same solicitor that we use for our own legal and fiscal matters to register property, translate at the Notary and to assist with the payment of taxes due.
POWER OF ATTORNEY (POA)
This is the process whereby you nominate someone to transact on your behalf, for example to buy or sell houses, open bank accounts and sign documents.
This can be between partners and on a reciprocal basis, giving both equal rights to effect transactions on behalf of each other. Also, this can be arranged for a third party, meaning that the purchasers/sellers of properties do not need to be present at the Notary when the sale takes place.
Power of Attorney can be given to one or two persons, for example, meaning that if one person cannot attend the signing for a property, the second person can go in their place and both represent the original Buyer/Seller. Spanish Solutions can offer this type of representation.
The POA takes place in the Notary, in front of the people transferring powers and a translator. The document can be produced in Spanish, or in Spanish and English.
POA can be arranged with an expiry date, and after this date the document becomes invalid. This means that the person holding POA can only transact on behalf of the individual for a limited period. If POA is granted for an indefinite period of time, the same people have to return to the Notary when they desire to revoke the Power.
It should be stressed that this is an important document and whilst effective for the processes it covers, whenever the document is no longer required, the best action is to then cancel the same.
If you have any specific concerns regarding Notary processes, or if you have a question regarding living here in Spain, please email them to fiscal@spanishsolutions.net or call directly 966 761 741