4 reasons why to register your home in the Land Registry

If you follow our blog regularly, you may have already noticed that at KM2 Real Estate Services we address a wide variety of topics, from decorating tips to the latest industry news, among others.

Now then… Have you noticed what we haven’t discussed yet? Exactly! The reasons why you should register your property in the Land Registry.

What is the Land Registry?

The Land Registry is a public institution that is responsible for registering and preserving all acts and contracts related to the ownership of real estate.

Its function is essential both for the registration of new constructions and for the purchase of second-hand homes. It also provides the possibility of verifying that a property is free of encumbrances – such as debts or encumbrances – thus providing greater security to the buyer.

What are the reasons for registering your property in the Land Registry?

Although it is not an unavoidable procedure, we recommend you to register your property in the Land Registry to protect and secure your rights as owner.

Moreover, according to the information provided by the Property, Mercantile and Real Estate Registrars of Spain, this process is crucial to:

• 1. Obtaining legal protection

By registering your property, you are legally recognized as the owner. This protects you against third parties, such as possible creditors of the seller who did not disclose liens or debts.

• 2. Access to a mortgage loan

If you wish to finance the purchase with a loan, registration in the Land Registry is essential. The bank needs to register the mortgage as collateral in order to approve the loan.

• 3. Obtain a duplicate of the deed

In case of loss of the deed, registration makes it easier to obtain a duplicate. You only need to request a simple note at the Land Registry and present it to a notary.

• 4. Proceed with the update at the Cadastre

Once the property is registered, the Cadastre is notified, and the property tax receipts (IBI) will be issued in your name as the new owner.

How to register your property in the Land Registry?

Go to the corresponding Registry Office and submit the following documents:

1. Public deed.
2. The last receipt of the IBI.
3. Proof of payment of taxes.
4. Notification of the transaction to the Town Hall.

The Registry will review the information within fifteen working days. If errors are detected, you will be informed to correct them or to present objections if you do not agree with the decision of the registrar.

The time has come to trust in KM2 Real Estate Services

Now that you know the reasons why you should register your property in the Land Registry, the time has come to leave the whole process in the hands of KM2 Real Estate Services.

With a trajectory of more than 40 years, we guarantee you an expert, personalized and close service.

Do not hesitate to contact our team of professionals in our real estate agency in Barcelona or Madrid. We are waiting for you at:

• C/ de Balmes, 150, 2º1ª, Barcelona.
• C. Serrano, 51, 4ª Pl. Derecha, Madrid.