Signing the Public Deed

Signing the public deed is one of the final and most important steps in the process of buying a property in Spain. This act formalizes the transfer of ownership from the seller to the buyer and must be done before a notary public. Below are the key steps and considerations for this stage of the process.

Step 1: Reviewing the Deed

Preparing the Deed

The notary is responsible for preparing the public deed, a legal document that confirms the transfer of ownership. This document must include all essential details of the transaction, such as the description of the property, the sale price, and the conditions agreed upon between the buyer and the seller.

Detailed Review

Before signing, it is crucial that both the buyer and the seller carefully review the deed. Pay attention to:

• Personal Details: Verify that your name, NIE, and other personal details are correct.
• Property Description: Ensure that the description of the property is accurate and complete.
• Sale Conditions: Confirm that all agreed conditions (price, deadlines, etc.) are clearly specified.

Step 2: Appointment with the Notary

Scheduling the Appointment

Once the deed is prepared and reviewed, an appointment is scheduled with the notary for signing. Both the buyer and the seller must be present, although they can be represented by proxies if they cannot attend in person.

Required Documentation

For the notary appointment, you should bring:

• Identity Document: Valid passport or ID card.
• NIE (Número de Identificación de Extranjero): Required for the purchase.
• Proof of Payment: Evidence of the deposit or any other prior payments.
• Mortgage Documentation: If you are financing the purchase with a mortgage, bring the related documents.

Step 3: Signing the Deed

Reading the Deed

The notary will read the public deed aloud in the presence of all parties to ensure that everyone understands and accepts the terms. This step is crucial for the transparency and legality of the process.

Signing by the Parties

Once the deed is read and understood, the buyer, the seller, and the notary will sign the document. This signature legally formalizes the transfer of ownership.

Payment of the Purchase Price

At this time, the final payment of the purchase price is made, usually through a bank transfer or certified check. This payment must be made according to the conditions specified in the preliminary contract and the public deed.

Step 4: Property Registration

Registration in the Property Registry

After signing, the notary will send a copy of the deed to the relevant Property Registry for registration. This step is essential for the transfer of ownership to be official and public.

Payment of Taxes

The buyer is responsible for paying the taxes related to the purchase, which may include:

• Transfer Tax (ITP): This varies by autonomous community and the value of the property.
• Notary and Registry Fees: Notary fees and costs for the Property Registry.

Step 5: Receiving the Original Deed

Obtaining the Original Deed

Once the registration in the Property Registry is complete, you will receive the registered original deed. This document is the official proof that you are the new owner of the property.

Conclusion

Signing the public deed is a crucial step that formalizes the purchase of your property in Spain. Ensure you carefully review the deed, have all required documents ready, and understand every aspect of the process. With the help of a notary and possibly a lawyer, you can complete this step confidently, ensuring that the transfer of ownership is legal and smooth.