Today our blog wants to inform you of an important document when selling your property or buying a property: The Simple Registry Note. If you haven't heard of this document yet, read on to find out what it consists of...
Do you want to sell your house?
If you are thinking about selling and you are already collecting all the papers you need to do so, there is one that stands out among the rest and that you cannot forget: the Nota Simple Registry.
Its purpose is to inform about the reality for legal purposes of a real estate property.
What is the simple registration note?
It must be clear that, although it is fully informative, it is very valuable. This document is issued by the Property Registry.
The simple registration note is a document that indicates the status of any type of real estate property. It describes and locates the property, indicates who the owners are and whether it has any type of encumbrance, such as a mortgage.
The most formal definition outlined by the Registrars of Spain is: "The simple note is a succinct extract of the content of the entries relating to the property, stating its identification, the identity of the owner or owners of the rights registered on the property. itself, and the extension, nature and limitations of these. Likewise, the prohibitions or restrictions that affect the registered owners or rights will be recorded. The value of the simple note is purely informative. »
What is the simple note for?
As we have indicated at the beginning of this blog, the simple note serves to inform the buyer of a property about everything related to the property.
Above all, it serves to know if it is free of mortgages or charges, and to know all the legal rights over the property and tax obligations. Or, to put it another way, avoid surprises.
Where to get the simple registration note?
The content of the simple note is completely in the public domain, since, according to article 221 of the Spanish mortgage law; All information assigned to the property registry as a public body is in the general domain. So, anyone who has a reason can ask for it.
If you are the seller and your property is registered you have nothing to worry about. Of course, as a seller, your name has to appear on the document. Otherwise, you will not be able to sell said property, at least in your name.
With these three paragraphs you are always aware that it is a simple note, if a buyer or notary ever asks for it, you will know what they are referring to.
Don't forget to follow us to stay up to date on all the current news, real estate trends, sustainability ideas, home tips, and location queries. Follow us on social media to stay updated on our products and services.
