Mallorca Immobilien

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Spanish property legislation will become important to you the moment you have found your villa, country house or apartment among the countless properties for sale in Mallorca and are starting negotiations with the seller of the property. To give you a brief overview we have compiled a checklist for you with some important points regarding property law in Mallorca, respecively in Spain.


Property law / checklist


1.property register:
Check the original or complete copy of the deed of sale "Escritura Pública" in the property register. All details given have to comply with the current estate of the property. A recent statement of the property register "Nota Informativa Simple" will give you all information on the situation of the property, charges and encumbrances.


2. New development:
Has the owner received the "Licencia de primera ocupación"? Check that the property is described in the property register as "finished housing space".


3. Communally owned buildings:
Ask for a written statement of the Chairman of the owner's association, confirming that the seller has paid all charges and that the community is free of depts against third persons. You should also receive a copy of the statutes of the owner's association, the establishing deed and the statement of division.


4. Purchasing a plot of land:
Generally you buy a plot of land to build on it. In that case you should make sure that building is permitted and to which extent prior to the purchase. You can address a request to that effect to the local community.


5. Community tax
The annual land tax charged by the community "Impuesto sobre Bienes Inmuebles" or "IBI" should be paid by the seller before signing the purchasing contract.

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Property tax:
Single tax for Purchase/Sale

VAT.
Capital-/land purchase tax
Capital gain tax
Income tax