Hello, dear readers. Today we will discuss with you the following topic: “Escritura” and “Copia Simple”. What are they for? Two very important documents that you receive when you are at the final stage of purchasing of a real estate in Spain.
Escritura (in Spanish – Escritura de compra-venta) is an official document that is to be signed at the presence of a notary. In Spain this document is always made in Spanish language.
In the process of signing of Escritura participate the following persons (parties):
Seller or his/her official representative (trustee)
Buyer or his/her official representative (trustee)
Interpreter of one of the parties (if it is necessary)
Power of attorney
You have to take into account the fact that a trustee must have a notarized power of attorney to represent the legitimate interests of one of the parties. It is possible to obtain this document in any notary in Spain, in Consulate General of Spain or notary on the territory of country of your nationality. In the last case a notarized power of attorney must be translated into Spanish language by an official translator and it is to be apostilled.
Before signing of Escritura
Before signing an Escritura, a notary sends a request for an extract to the state register of properties for a relevant real estate in order to check whether there are any encumbrances on it. When some encumbrances exist, for example a mortgage, then on the day of signing of the Escritura all the debts must be paid or with the consent of the buyer properly re-registered in his/her name.
What information is contained in Escritura?
Escritura, as well as its copies, contain the following information:
Name of the buyer, NIE, passport data, address of residence and the size of share ownership.
Name of the seller (an individual or an organization), NIE, passport data or DNI
Name and passport data (or DNI) of the interpreter if one of the parties does not speak Spanish
Full name of the notary and the number of his/her license
Address of the immovable property which is the subject of this purchase and its number of registration in the State register of properties
Characteristics of the immovable property: the area, the number of rooms, additional premises (for example, like a garage or storage room)
If there are, all the encumbrances
The price and forms of payment as well as the dates of payments
Copies of all the necessary documents: passports and identity cards of the parties, copies of all payment documents (money transfers) aswellas taxes at the time of the purchase. The seller also provides the buyer with all the receipts of payment of all utilities during recent months
If the real estate is acquired through mortgage, then all the terms of this mortgage must be detailed in the Escritura. In some situations, maybe be compiled a separate Escritra called in Spanish – Escritura de prestamo ipotecario.
Payment of real estate value
All payments concerning the acquisition of the real estate are made by bank transfer or by issuing a bank check. If some part of the value of the real estate or deposit is paid in cash, this fact must also be properly fixed in the Escritura. Copies of all the payment documents and receipts are obligatory to be enclosed to the Escritura.
Buyers (owners) and their shares of ownership
All adult buyers are to be indicated in the Escritura.
In general, by default, unless explicitly stated otherwise, it is considered that all owners have equal shares in the acquired property and also that in addition to the rights they also have equal duties, for example, on the payment of a mortgage. Moreover, it also should be taken into account that further sale of this real estate must also be carried out only with the consent of all its owners.
After signing of Escritura
On the day of signing of Escritura, the buyer receives his/her a copy of this document, in Spanish it is called “Copia Simple”, and the keys for the acquired property. After the document is dully signed by the parties, the Escritura is sent by the notary to the State Register of Properties, where within the period of 3 months the process of re-registration of the real estate in the name of the buyer will be carried out. Upon completion of this process, the buyer receives his/her copy of Escritura with the notes about state registration. With this document the buyer (already the owner of a real estate in Spain) is able to apply to Consulate General of Spain in the country of his/her citizenship for a long-term Schengen Visa or initiate a process of issuing of a residence permit, if the buyer needs it.
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