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Purchases by a non resident in Spain
Once a suitable property is found and the above mentioned verification has been undertaken, the property must be purchased from its rightful owner by means of a purchase agreement. |
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Nevertheless, it is common practice to take some preparatory steps, prior to the Public Conveyance Deed, such as paying deposits in order to reserve the property, etc., initially signing only private contracts between seller and buyer, the preparation of which should be left in the hands of a trusted lawyer. These contracts, which logically would oblige the parties, generally have the purpose of starting the purchase process eventually culminating in the previously mentioned Public Conveyance Deed and its subsequent registration. In order to sign these contracts, as well as to sign the Public Conveyance Deed, it is possible to be represented by attorneys, to whom notarial power of attorney has been granted (a power of attorney signed before a Spanish notary public is just as valid as one signed before a Spanish Consul or Ambassador in any country, or even the one signed before any notary public in any country other than Spain). |
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© Real Estate Lawyers in Spain 2005 |
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