Investing in a property for sale in Torrevieja is much similar to investing in property anywhere else in Spain, thanks to the fact that there some legal aspects that should be considered. Before investing in a property in Torrevieja, there are some crucial legal aspects you should know. Without further ado, let’s dive in:
Whether the property has been registered properly
Not all the properties that are listed for sale in Torrevieja are registered at the Land Registry. Unregistered properties may be ridden with lots of legal problems such as lack of title deeds, court cases, conflicting lease agreements among others. Get a local lawyer to check for you whether the property you intend to purchase is registered.
Whether the person selling the property is the registered owner
It isn’t uncommon to find properties listed for resale, yet they aren’t registered under their rightful owners. This normally happens in instances when the rightful owner has died. To check whether the property you are interested in purchasing is registered under owner’s name, visit the Land Registry and request for a nota simple –which is a report given by the Land registry detailing all the relevant information about that particular property. You can also hire a property lawyer to do that for you.
Ensuring the property has complied with the Spanish Coastal Law
If you are purchasing a resale property, ensure it isn’t within the restricted public area, lest you risk your property being demolished by local authorities. Passed in 1998, the government has recently amended the harsh Spanish Coastal Law which has seen thousands of properties that were listed for demolition now safe for selling and buying. If the property you plan to purchase has benefited from this reprieve, then you can proceed to purchase it without any fears of demolition.
Are there charges, debts and encumbrances?
You can also request for this information at the Land Registry. If you purchase a property that has charges, debts and encumbrances against it, you will be held accountable for the unpaid local taxes and utility services. This is simply because such debts don’t go against the person who owned the property previously, but work against the property in question.
Conclusion
As much as there are legal aspects surrounding the selling and buying of properties in Torrevieja, that doesn’t mean that you can’t invest in a property here. You just have to meet all the legal requirements while purchasing your property. Hopefully, the above-highlighted tips will point you in the right direction as far as property for sale in Torrevieja is concerned.
