What is the purpose of the Property Registry?
Posted: Tue Dec 17, 2024 6:31 am
The Property Registry is an official public registry in which, for the general knowledge of all citizens, property rights over real estate (farms, houses, buildings, warehouses, etc.), as well as all other property rights that affect them (mortgages, liens, etc.) are recorded.
This affects you as a homeowner, but also if, as a self-employed person or entrepreneur , you own or are thinking of acquiring a commercial premises, office or industrial warehouse. To help you get the most out of this public institution, we will tell you all the key points.
What data does it provide?
The Property Registry provides the following basic information on real estate:
description
registered owner (in whose name it is registered)
charge (mortgage, lien, etc.) registered or not on the same
This means that every buyer of a home or business premises must go to the Registry and ensure that the person who claims to be the seller is listed as night clubs and bars email list such and that the property has no encumbrances.
If this is not the case and the office has liens (for example, a mortgage ), the purchase and sale can still be carried out, but as a buyer you would have to ensure in writing that the seller will assume the liens and take care of cancelling them.
The following are voluntarily registered in the Property Registry:
Documents relating to the acquisition of real estate (purchase and sale)
the real rights that fall upon them (mortgages, easements and judicial or administrative resolutions that may affect them)
Advantages of registration in the Property Registry
The registration of homes and business premises or their assets in the Property Registry is a voluntary decision, but by registering them, legal security is obtained .
Once registered, the rights are under the protection of the courts and, if there were a problem, only what is stated in the Registry would be considered true.
On the other hand, registering the purchase-sale of a premises facilitates its transfer and the obtaining of financing at lower costs than would otherwise be the case.
Cost of registering a home
The cost of registering your home or business premises depends on its value. Property Registry fees are approved by the Government and published in the Official State Gazette .
Access to information
Anyone can request information about any property, whether their own or that of a third party. Information from the Property Registry can be accessed in two ways (both containing a description of the property, its ownership and any encumbrances placed on it):
the simple note: it has merely informative value, but does not attest to the registration
Certification: It is the only means of reliably proving the content of the Registry entries (it gives faith), before the Courts of Justice (in a trial and outside of it), and is signed by the Registrar
The Property Registry offers us valuable information when purchasing premises for our business , and registering it as property means enjoying greater legal security. That is why, as a self-employed person or SME, this public institution is an ally and it is advisable to find out about all its possibilities.
This affects you as a homeowner, but also if, as a self-employed person or entrepreneur , you own or are thinking of acquiring a commercial premises, office or industrial warehouse. To help you get the most out of this public institution, we will tell you all the key points.
What data does it provide?
The Property Registry provides the following basic information on real estate:
description
registered owner (in whose name it is registered)
charge (mortgage, lien, etc.) registered or not on the same
This means that every buyer of a home or business premises must go to the Registry and ensure that the person who claims to be the seller is listed as night clubs and bars email list such and that the property has no encumbrances.
If this is not the case and the office has liens (for example, a mortgage ), the purchase and sale can still be carried out, but as a buyer you would have to ensure in writing that the seller will assume the liens and take care of cancelling them.
The following are voluntarily registered in the Property Registry:
Documents relating to the acquisition of real estate (purchase and sale)
the real rights that fall upon them (mortgages, easements and judicial or administrative resolutions that may affect them)
Advantages of registration in the Property Registry
The registration of homes and business premises or their assets in the Property Registry is a voluntary decision, but by registering them, legal security is obtained .
Once registered, the rights are under the protection of the courts and, if there were a problem, only what is stated in the Registry would be considered true.
On the other hand, registering the purchase-sale of a premises facilitates its transfer and the obtaining of financing at lower costs than would otherwise be the case.
Cost of registering a home
The cost of registering your home or business premises depends on its value. Property Registry fees are approved by the Government and published in the Official State Gazette .
Access to information
Anyone can request information about any property, whether their own or that of a third party. Information from the Property Registry can be accessed in two ways (both containing a description of the property, its ownership and any encumbrances placed on it):
the simple note: it has merely informative value, but does not attest to the registration
Certification: It is the only means of reliably proving the content of the Registry entries (it gives faith), before the Courts of Justice (in a trial and outside of it), and is signed by the Registrar
The Property Registry offers us valuable information when purchasing premises for our business , and registering it as property means enjoying greater legal security. That is why, as a self-employed person or SME, this public institution is an ally and it is advisable to find out about all its possibilities.