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Notarius Publicus
For real estate transactions in Spain, a Notary Public is commonly used. A notary is officially authorized to carry out specific services, including property transfers. At the notary’s office, the seller and buyer, as well as a representative from Benitez & Thorbjørnsen if applicable, meet to sign the final contract and transfer the purchase amount.
By using a notary, security is ensured for both the buyer and the seller. Signing the agreement in the presence of the notary provides an important guarantee for both parties.
An officially executed deed, certified by the notary, functions as a legal proof of the contract's existence and its public record in relation to the agreement between the parties. The document establishes ownership and confirms that the property has been acquired without additional claims.
The notary has reviewed all relevant legal aspects of the property, such as ownership status, encumbrances, zoning regulations, tax matters, and other factors to ensure that the buyer is protected from potential risks and irregularities.
At the time of transfer, the parties meet with the Notary Public, who verifies that they are indeed who they claim to be. The notary confirms the presence and identity of the parties, reviews all necessary documentation, and witnesses the signatures. The notary has also ensured that the property being bought or sold is completed, and that the reported area matches the details in public records, and that
the property is sold free of encumbrances, and also that property tax has been settled. Once the agreement is signed by the parties, it becomes a legally binding document. The deed therefore acquires legal status, which can only be revoked by a juridical decision.