Step-by-step guide to property registration
1. Sign the public deed at the notary
Once the purchase process is complete, both the buyer and seller must sign the Escritura Pública de Compraventa (Public Deed) before a Spanish notary. This official document confirms the transfer of ownership.
2. Pay property transfer taxes and fees
Before registering the property, you must pay the corresponding Notary fees and settle the applicable taxes, which depend on whether you purchased a new or resale property:
- New properties: Pay VAT (IVA) up to 10% and Stamp Duty (Actos Jurídicos Documentados or AJD), which varies by region.
- Resale properties: Pay the Property Transfer Tax (Impuesto de Transmisiones Patrimoniales or ITP), usually between 6% and 10%.
3. File the deed with the land registry
After paying the necessary taxes, the next step is to present the Escritura Pública at the Land Registry office corresponding to your property's location.
The registration process usually takes from a few weeks to two months, depending on the workload of the specific registry.
4. Obtain the updated property registration certificate
Once registered, you will receive a certified copy of the property registration (Nota Simple) after payment of the corresponding Land Registry fees. This document officially confirms that you are the legal owner and provides information on any existing charges, such as mortgages.
Be the first to comment!