Buying a holiday home in Spain is still an exciting opportunity for many UK residents looking to invest in property. However, there will be a huge amount of paperwork covering the legal and financial aspects of the transaction that will need to be fully understood by the purchaser. Naturally, not everyone is fluent in another language, so the purchaser should employ a professional Spanish Translator to help with the documentation.
At Romo Translations we have the experience and expertise to help make the process as smooth as possible. Here are just some of the many aspects of the purchase that need to be considered.
The legal side of the property purchase in Spain will be different to that of the UK, therefore the purchaser must understand all aspects of the transaction and their legal requirements. This will include (but certainly not limited to) some of the following areas:
- Land Registry
- The property is being sold by the registered owners
- That there are no current legal proceedings initiated against the property for contravention of land planning law
- That planning permission has been granted for the building of the property in that location
As can be seen by the short listed above, the purchase itself could become quite complex and therefore having a true understanding of the legal requirements will be vital. In conjunction with the Spanish translator, it will be important to employ legal advisors that specialise in Spanish law.
In addition to the legal elements of the purchase, it will also be vital to understand the financial and tax implications. The taxation system will also vary dependent on whether you are living in Spain with an income from the UK or if the income is directly paid in Spain. There will also be the taxation elements on the property purchase itself, which is set by the local council and not the purchase price, it is therefore important that you have all documentation accurately translated from Spanish and employ the services of a Spanish taxation professional.
Due to the nature and importance of the documents in the purchasing process, the translations will only be accepted if they are Sworn Spanish Translations. This certifies that the translations are accurate and have been conducted by a professional Spanish Translator. Here at Romo Translation we are Certified Translators that can provide the Sworn Spanish Translations required to help with the purchase of a property in Spain.
As can be seen from the above example areas requiring Spanish translations, it can be a minefield if you don’t understand the details from a legal and financial point of view.
If you would like to discuss your potential property purchase and how we can help you with your Sworn Spanish Translations, we would welcome your call.