Once the purchase of a property is signed at the Notary, there are a number of post-sale steps to complete the purchase process. These steps can be completed by your lawyer, tax advisor, management company, by the Notary where you bought or even by the buyer. This is a simple guide to that process:
- Request of a “Copia Simple” (Simple Copy). The “Copia Simple” is a copy of the title deed issued by the Notary. It is a document that is going to be requested by the supplying companies as a prove of ownership. In general, and after signing, the Notary offers that document to the signing parties but, if that has not been the case, the document can be obtained from the same Notary where the deed was signed. It is to be noted that the “Copia Simple” is just a mere informative document and does not have legal validity as proof of ownership.
- Pick up a “Copia Autorizada” (Authorized Copy) of the purchase deed at the Notary. Some days after the signing of the purchase deed, in general less than one week, the “Copia Autorizada” of the purchase deed can be picked up at the Notary. To be able to do that, the fees of the Notary have to be paid. This document has the original signature of the Notary and, unlike the “Copia Simple”, is does have legal validity as proof of ownership.
- Payment of the Transfer Tax. Before being able to register the property at the name of the new owner, the Land Registry requires the payment of the Transfer Tax. The place to pay it is the “Oficina Liquidadora” (Liquidation Tax Office). They are going to ask for a 600 form fully filled in plus the “Copia Autorizada” and a “Copia Simple”. If everything is correct the “Oficina Liquidadora” will issue a paying-in slip that can be used to liquidate the tax at the main banks of Spain. The deadline to pay the Transfer Tax is thirty days after the signature of the purchase deed.
- Patronato de Recaudación Provincial. This is the governmental office that manages the council taxes like the I.B.I. When a property is sold, the new owner has to inform the Patronato of the change in ownership by presenting a form with the information of the property and the new owner plus a “Copia Simple” as a proof of ownership.
- Land Registry. The new owner has to present a request for a change of ownership at the Land Registry providing the form presented at the Patronato de Recaudacion, the 600 form with the proof of payment of the Transfer Tax and the “Copia Autorizada” of the purchase deed. The inscription of the new owner of a property may take about fifteen days to be completed. From that moment, the buyer appears as the owner at the Land Registry.
- Finally, the new owner has to inform the community of owners, the supplying companies for electricity, water and/or gas of the change in ownership. They usually ask for a “Copia Simple” as proof of ownership and the bank data to do the changes.
* As every case is different and although the process is not complicated, it is recommended to contact your lawyer, tax advisor or management company before proceeding with the process to avoid future problems.
