Why would a house not be registered with Land Registry?

Why would a house not be registered with Land Registry?

Two deeds for the same property

If you are going to apply for a mortgage to finance the purchase of the property, it is necessary that it is registered in the Land Registry so that the bank can register the mortgage that guarantees the repayment of the loan.

Once the property is registered in the Land Registry, it is reported in the Cadastre. Thus, the next Real Estate Tax (IBI) bill is already issued with the name of the buyer.

In addition to these questions, to carry out this procedure will also allow to obtain again a copy of the deed of your house in case of loss. How? Requesting a simple note in the Registry of the Property to take it to the notary. And, if you do not know who has custody of the deeds, you can find out at the Registry itself.

Once all this information has been presented, in a term of fifteen working days, it will be verified that it is correct and that the requirements established by the law are fulfilled so that the buyer obtains the right of property.

Already convinced of all the reasons why you should register your property in the Registry when you buy your house (or any other property), you consider the cost. The price you will have to pay will vary depending on the value of the property. That is to say, the more registry value your property has, the more you will have to pay to register it. In any case, the range is between 24,04€ and 2.181,67€.

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House not registered in the property register

The rates of the registry depend on the value that is granted to the house in the deeds, that is to say, of its value to register. Depending on this value the Royal Decree 1427/1989, by which the Tariff of the Registrars of the Property is approved, fixes the maximum that can be charged. The registry expenses will have an approximate cost of 600 to 1,000 euros depending on the value of the property or right, as follows:

The property registry serves to protect the owner and is essential for the subsequent sale of the property. The simple copies of this registry are constantly used before buying a house to check if the seller is the real owner. If you have not made the change of registration it is possible that the buyer will back out or demand additional documentation.

It is compulsory to register a property in the land registry

Thanks to the inscription of a property in the Land Registry we are officially recognized as owners. We can dispose of our right, selling or mortgaging, and anyone who is interested in buying a house or to constitute on it a right, will be able to have at his disposal all the necessary information to be able to decide in equal conditions and without surprises. In addition, by registering we have the security that nobody will be able to deprive us of our right or to dispose of it fraudulently.

The objective of the Land Registry is to give publicity of the registered acts and consequently legal security to the property and future acquirers of the real estate, since registering them, those who consult it are informed about the domain and other real rights or charges that weigh on the same ones, minimizing risks of eventual claims.

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By registering in the Real Estate Registry all acts affecting the ownership or real rights over real estate, it provides total security and legal priority to the rights registered therein, which in turn guarantees total security in real estate transactions, which is the main objective or purpose of the Real Estate Registry, and the reason for its existence.

How long does it take the land registry to register a property?

Due to ignorance, forgetfulness, savings or speculation. The reasons for which the owners decide not to register their apartment in the Land Registry, can be of the most varied. However, although it is not a compulsory procedure, registering a property in the Land Registry is a recommended procedure due to the important advantages that this procedure brings to its owners.

Example: we have just received an inherited apartment and we want to sell it. So that the person to whom we sell our property can register it in his name, it must be previously registered in our name.

The fact of not having registered a property does not prevent its sale, but as we have already seen above, it complicates it a lot. If the property does not appear in the Land Registry in the seller’s name, the seller may have difficulties in proving its ownership. In addition, the buyer will not be able to consult in the registry, possible charges that exist on the property.

Why would a house not be registered with Land Registry?
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