Spanish purchase and sale agreements are agreements in which one of the contracting parties undertakes to hand over something to the other party in exchange for a price in money or any other similar value. There are several similarities but also many differences in the conditions and objects to sell or buy. Apart from some exceptions, almost all assets and rights on the market can be sold or purchased for a certain price. The arangements for a purchase or sale in Spain are described in a sale agreement.
The several cases to be numbered are almost inexhaustible. Therefore, it is paramount not to enter into any contract, whether to purchase or to sell, before getting practical advice from expert Spanish lawyers.
Purchase agreement in Spain
- The best counselling and legal assistance guarantees you the that:Any purchase contract in Spain will meet your expectations and will be drawn up to your full satisfaction.
- If the other party does not comply with the Spanish contract for any reason whatsoever and it is not possible to come to an amicable agreement, which is always priority in this kind of situations, you can be sure that your rights will be asserted in the corresponding proceedings.
Arcos & Lamers Asociados is your team of qualified English speaking lawyers in Spain who are ideally suited to face such situations. We are specialists in prevention as well as in the cure.
Characteristics purchase contract in Spain
As an example we will analyse the features of the purchase – sales contracts that need to meet specific formalities as legal requirements and need to be executed before a Spanish notary. Our Spanish law firm in Marbella, Costa del Sol, stands guarantee for security, legality and independence providing you with efficient and professional legal and tax advice
Which information needs to be included in the Purchase Title Deed in Spain?
Whether you are the vendor or the purchaser, at the beginning of the Sale or Purchase Title Deed, the following data will be mentioned:
- Date and place of execution of the deed and the name of the notary public.
- Identification of the appearing parties, including their name, nationality, and marital status, address and identity card number.
- Equally, it will be mentioned whether any of the parties intervenes in representation of another person and the document that proofs this, will be attached.
- Likewise, it will be mentioned whether an translator appears in the event that one of the appearing parties does not speak Spanish.The notary certifies the capacity of the appearing parties and then the statements are included with the following information:
- Description of the property and data at the corresponding Land Registry in Spain. In the event that the object of the purchase – sale transaction is a real estate located in any area of the Spanish territory.
- Cadastre reference number and situation regarding the payment of the local rates, the so known Impuesto sobre Bienes Inmuebles (I.BI.).
- Statement regarding the community fees and a certificate of the debts at the community of owners.
- Charges that might encumber the Spanish property.
- Submission of the energy efficiency certificate to the purchasing party.
- Attachment of the extract from the corresponding local Spanish Land Registry.
- Situation of tenants: Whether the property is free from tenants or occupants.
- Sales conditions such as: object, price, method of payment. Payment of the notary fees and payment of the Plusvalía tax.
- Finally, the deed will expressly set out that the contents was read aloud, the series numbers of the notarial paper, and the signature of the appearing parties and the notary.
More information about Purchase and sale agreements in Spain
Do you have doubts on the contents of a Deed (Spanish Purchase Title Deed or Sale Title Deed) or you wish to know more about the deed you are going to sign, then our law firm in Málaga, Marbella, Arcos & Lamers Asociados is ideally suited to help you by offering you strategic advice on the execution of the same or explaining the contents of a deed you have already signed. We provide fast and efficient tailor-made advice that meets your personal needs. Feel free to contact us.