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Glossary of terms for buying spanish property
Abogado
A lawyer or solicitor.
Administrador de Fincas
A licensed property administrator.
Arras
A down payment or deposit: a percentage of the total price and given to the seller by the
buyer of the property in order to guarantee that the sale of the property will be completed
within a given period of time.
Ayuntamiento
The town hall.
Catastro
The land registry office, administering information regarding measurements and physical
descriptions of land and properties.
Cédula de Habitabilidad
A certificate stating that the property meets minimum occupancy conditions. This document
will need to be produced when contracting utilities such as water, electricity etc.
Certificado Catastral
An official certificate describing land and buildings thereon.
Colegio Oficiál de Arquitectos
The official body of architects.
Comunidad de Propietarios
The owners association which is responsible for the upkeep of the communal areas and the
general administration of an urbanization or complex.
Contrato de Compraventa Privado
The private sales agreement. This document is signed by the buyer and vendor when the agreed
deposit is paid.
Declaracion de Obra Nueva
The declaration by a notary of the construction of new buildings.
Escritura de Compraventa
Deed of conveyance. This document is signed by the notary and shows that you are the purchaser
of the property.
Escritura Publica
The title deed to a property. This document legalises the purchase and is signed by both the
vendor and seller and witnessed by the notary. The purchaser obtains an original copy of the
deed once all taxes have been paid and the corresponding inscription in the property register
has been actioned, usually a couple of months after the signing of the escritura de
compraventa.
Gastos Notariales
Notary Fees. Fees charged by the public notary to witness the signing of the escritura de
compraventa and collecting the relevant taxes.
Gastos de Inscripción
Land registry fees. Fees charged to inscribe the title in the land registry.
Gestor
A licensed administrator with specialist knowledge of Spanish administrative procedures.
Hipoteca
Mortgage
Impuesto de Actos Jurídicos Documentados (AJD)
Stamp duty. This tax is payable on sales transactions subject to VAT and mortgage loans,
usually at a rate of 0.5% on total coverage of the mortgage or on the deed amount in the
case of sales subject to VAT.
Impuesto sobre Bienes Inmuebles (IBI)
Annual property tax equivalent to rates or council tax in the UK.
Impuesto de Transmisiones Patrimoniales (ITP)
Property transfer tax paid by the purchaser of second hand properties.
Impuesto sobre el Valor Añadido (IVA)
Value Added Tax, VAT. Sales made directly by a developer (newly built homes) are subject to
VAT. The current standard rate is 7% on the sales value in case of private use and 16% in
case of commercial use.
Ministerio de Obras Pblicas y Transportes (MOPT)
The ministry of public works and transport.
NIE (Numero Personal de Indentificación de Extranjero)
Tax identification number for non-residents.
NIF (Numero de Indentificación Fiscal)
Tax identification number for residents.
Nota Simple
The certificate of registration from the land registry which confirms current ownership and
shows any mortgages or embargoes on the property.
Notario
The notary acts as the public official when signing the public deeds, such as the sales or
mortgage loan agreement. The notary is obliged to ensure that current legislation is
fulfilled and to defend the interests of the parties involved.
Oficina Liquidadora
Administrative office that assigns official property values for taxation purposes.
Plan General de Ordenación Urbana (PGOU)
Town development plan.
Plan Parcial
The town hall plan for building plots, which must be approved and assures you that the
urbanisation is legal and registered.
Plus Valia
Municipal tax on property sales.
Poder
Power of attorney.
Registro de la Propiedad
The Land Register. It contains all acts, contracts or legal charges referring to a property,
such as ownership or encumbrances.
Tasación
Valuation. An independent surveyancy company carries out the valuation of the property in
order to determine the current value of the home within the property market and to specify
the maximum amount that can be financed. The valuation is valid for six months after the
date of issue.
Urbanización
A private development which may consist of any number of apartments, townhouses or villas.
It is usually built around communal gardens, pool or tennis courts etc. Owners have to pay a
regular contribution to the comunidad de propietarios for the upkeep and maintenance of the
communal areas.
Urbanismo
The town planning department of the town hall.
Valor Catastral
The assessed value of property for tax purposes.
Making the right investment is key and if you pick the right investment,
you could be in for a handsome return.
Where should I buy? Schools in Spain? Healthcare? Legal fees? Please browse through this section for helpful
hints and answers to all your questions on buying property in Spain.
Abogado