Verifying documents and debts

Protecting Yourself in Property Transactions

Buying a property is a significant investment, and ensuring the legitimacy of all documents and debts associated with the transaction is crucial. This section outlines key steps to protect yourself from potential issues. We always recommend to use a qualified lawyer. You can find lawyers in your area here.

1. Scrutinise Property Documents:

• Title Deeds (Escritura Pública): Verify the document identifies the seller as the rightful owner and confirms there are no outstanding charges on the property.
• Land Registry (Registro de la Propiedad): Conduct a land registry search to confirm ownership details and identify any limitations or encumbrances.
• Planning Permission: Ensure the property was built with the necessary permits and adheres to current regulations.

2. Verify Debts:

• Community Charges: Confirm the seller is up-to-date on community fees for apartments or shared properties.
• IBI (Impuesto sobre Bienes Inmuebles): Verify the property tax (IBI) is current and understand your future obligations.
• Outstanding Mortgages: If the property has a mortgage, ensure the seller has the legal authority to sell with the outstanding loan.

3. Recommendations:

• Deal with a reputable Real Estate Agent.
• Engage a Solicitor: A qualified solicitor can meticulously review documents, conduct searches, and advise on potential issues. Find a Lawyer in your area here.
• Debt Verification Letter: If contacted by a debt collector claiming a lien on the property, request a debt verification letter with detailed information for verification.
• Seek Professional Guidance: Don’t hesitate to seek clarification from your solicitor or a financial advisor if any aspect of the documents or debts seems unclear.

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Disclaimer: The information contained in this guide is for general information purposes only and does not constitute legal advice. Verifying documents and debts is a complex process with legal implications. For specific guidance on your situation, please consult with a qualified solicitor in Spain. PropertyList.es is not responsible for any inaccuracies or omissions in the information provided, nor for any consequences arising from decisions made based on this information.