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Wednesday, October 7th, 2015

Spain introduces new measures to facilitate real estate conveyancing

The legal processes, which are involved in the transferring of ownership of properties, are being facilitated in order to bring about a more efficient overall process and to avoid opposing pieces of data that arise between the Spanish Property Registry and the Cadastre. This is great news particularly for those who wish to purchase a property in Spain.

Spain's new property conveyancing process

In various past situations, there have been problems such as conflicting pieces of information regarding land boundaries in the Property Registry and in the Cadastre, which is further worsened by the fact that all information held at the Property Registry is in written form, holding no types of graphical data like maps. From time to time, this can become an issue and even lead to legal clashes, especially when trying to compare this written information with the graphical information held at the Cadastre, and the data not matching.

What’s more is that both institutions store completely different pieces of information, with the Cadastre, for example, not recording any refurbishments or extensions to the property, in the property description.

With these new regulations being put into place, this communication between the two sets of information shall be much easier. One of the most vital changes, as stated by Perez de Vargas Abogados in a seminar on the matter, shall be the duty of the Property Registry to incorporate graphical representation of a property, done by using the graphical data acquired by the Cadastre, and therefore replacing the Property Registry’s previous practice of writing the property description. As far as the description held by the Cadastre is concerned, it must incorporate all property refurbishments (such as an extension) that have been noted by the Land Registry.

With this, we can expect a much quicker and much smoother conveyancing process, whilst saving 1.8 million Euros per year – a result of the requirement of 22,000 personal declarations.

Although at the moment, the sharing of data between the Property Registry and the Cadastre is not possible, due to the lack of an IT system that connects both bodies in order to be able to cross-reference and check the data, the process, with the new regulation, will nevertheless be increasingly fluid and efficient. Pérez de Vargas Abogados has also stressed the added importance that comes with this “increase in legal security”, on real estate conveyancing, noting that with it, less confusion and “conflicts” will arise as a consequence of bad coordination on the part of the two entities.

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