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| PROPERTY PURCHASE - Frequently asked questions |
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| Saturday, 03 September 2011 13:18 | |||
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Q. I am looking to purchase a property that was built in 1983. The seller has owned the property since it was built and the property has never been registered with the land registry. Is this likely to affect our purchase? Who is legally obliged to organise registration of the property? Also, how long will this take and is it likely to delay completion of the purchase?
A When buying an unregistered property of this type, it is the buyer´s obligation to register it. The timescale for the registration procedure is impossible to determine and will depend on how much documentation is available for the property, for instance, whether the property is already registered at the local Town Hall or not.
A solicitor can investigate what documentation is available on the property and make sure that the seller is in fact the genuine owner. This is obviously essential in this instance, as there is no simple check that can be carried out that would be available with a registered property.
Q. If my girlfriend and I purchase a property in Tenerife with a view to obtaining permanent residence, what is the legal situation if we are not married? Can the property be purchased in our joint names, with each of our shares going to the other on death? We are both English.
A. Two unmarried English partners purchasing a property can easily buy a property in joint names. However, unlike in the U.K. where owners can hold as joint-tenants or as tenants-in-common, Spain only permits tenants-in-common, meaning that there is no automatic transfer of your half to your partner on death. Therefore you should also make Spanish Wills in order to leave your shares to each other, or if you prefer, to some other person. Spanish law dictates that the estate of a non-Spanish national administered under a Will proceeds in accordance with the law of their home country (in this instance, the laws of England & Wales). Thus, you will have freedom to dispose of your assets to whoever you choose. However, if you don’t make Spanish Wills, Spanish law may be applied, which includes potential compulsory inheritances to spouses, children and parents, resulting in a potentially undesirable outcome.
Interestingly, under Spanish law, it is also possible for you both to agree that if you split up, neither of you is able to commence proceedings to sell the house for a fixed period of time, to allow some breathing space.
Tenerife Solicitors can assist with both property purchases and Spanish Wills. See Tenerife News edition 432
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JONATHAN POWER'S


