Conveyancing

Conveyancing essentially means the transfer of Escritura, or Title Deeds, from one party to another. This sounds quite simple, in theory, but can be a complicated process even in the UK. If you are purchasing a property in Spain and throw into the mix an unfamiliar culture and legal system, a different approach to business, and the added complication of everyone speaking Spanish, then buying a property can seem particularly daunting. This is where we at Finco Financial Services come in. We enjoy an excellent working relationship with a number of experienced Spanish property solicitors – and, because we are fully independent and not tied to any one legal firm, we can match you up to the best solicitor for the job.

The Conveyancing Process

Details will vary depending on the sale but your Spanish property solicitor will deal with all the legal and tax implications involving in your Spanish property purchase, including the following:

• Check the background of the property through local authority and title searches (not least to ensure that the person selling the property has the legal right to do so!)
• Use Power of Attorney – this means your solicitor can represent you without you being present (this can save you a lot of unnecessary journeys to Spain)
• Liaise with your bank – this is a vital part of the conveyancing process – especially ensuring that payments are made as and when needed.
• Help obtain your Identification Fiscal Number (NIE) – essential for all foreigners (including those from EU countries) wanting to live in Spain, purchase property, work, start a business, pay taxes etc.
• Research any charges levied on the property
• Ensure building licenses and permissions are in order (if applicable)
• Examine all documents relating to the sale
• Check that the property is free of liens and encumbrances
• Transfer the title into your name
• File and pay all appropriate taxes, including 7% IVA transfer tax
• Register property in your name with the local land registry once the deeds are released from the Notary
• Ensure all Notary charges are paid and required documentation is filed
• Transfer utilities to your name

In short, during the process of your property purchase, your solicitor will liaise with you, the seller (or builder), the Notary, your bank, your seller’s bank, your seller’s solicitor, and possibly your mortgage broker. Plus local authorities, utility providers, the tax office…

In the 1980s, at the height of the Spanish property boom, around half of all overseas buyers conducted the transaction without using a solicitor – these days buyers tend to be a lot more clued up and cautious. At Finco Financial Services we can provide you with sound and unbiased legal advice – from solicitors who are working in your interests. Our Spanish conveyancing services will take you through every step of the buying process, with no hidden costs and no nasty surprises. The solicitors we recommend are all English-speaking, with a wealth of local knowledge, and extensive experience in providing accurate, impartial Spanish legal advice.

Other Legal Services

Conveyancing

Fiscal Representation

Setting up a Company

Fiscal and Accounting Services

Litigation

Spanish wills