A Few Legal Notes About Property In Tenerife
Foreigners are purchasing homes in the Canary Islands, specifically Tenerife in record numbers. The price points are favourable, and there’s a lot of different options to pursue. As people from the UK and other areas in the world find thE exchange rate still favourable, getting more for their money is enticing.
But there are some legal notes that you should adhere to, as there are some things that could stifle your purchase. The following are some quick tips that you’ll no doubt want to consider if you are going to purchase property in Tenerife soon.
Hire a Lawyer (Local)
Before you spend or even tour locations, hire a good lawyer. You need to have someone that can help you with the legal hurdles that comes with purchasing property as a foreigner in another country. You may think it’s smooth, but there are a number of hurdles that can come up. Do not believe anyone that tells you that you don’t need a lawyer, always get someone to help you, and make sure they are bilingual, or if you know Spanish, seek someone that can trust.
Picking a good lawyer can seem daunting, but it’s not that difficult. You need to look for a lawyer that is a member of the bar. The local bar in the area is the Bar Association of Lawyers of Santa Cruz de Tenerife. If they are not members of this arena, then you are not going to have someone you can trust. You need to speak to someone that knows the law, so that you’re able to gain the upper hand when purchasing property.
The Law Elements
When you purchase a home, you’ll be given a great deal of paperwork to read and sign. Some of this includes the deed, method of payment, purchaser agreement, and a lot more. If you don’t know Spanish, or you don’t have a translator, this can get confusing. Spanish Civil Code Law is not the same as that in the UK, so you’ll need a lawyer to help you get through some of the issues, including permissions, land building elements, and much more.
Contracts may be written in English, but often they are just Spanish, and could hinder your understanding of what you’re signing. There’s a registry that needs signing, a notary that needs to be present, and a lot more. Without having all of your elements in order, you will not be able to purchase anything, nor make it legally binding.
Don’t Be Fooled
It’s best to get a professional on your side when trying to get a home in Tenerife. Get a lawyer, have them help you with the paperwork, the legal ownership paperwork, and just spend the extra to keep them with you during the process.
Also, hire a good notary, and do not let anyone take advantage of you. If you feel that you don’t understand, get a translator, or ask your lawyer. Do not rush into this, especially if you do not speak Spanish fluently. A lawyer will make the whole process a lot easier.
Villas and Apartments Tenerife specialises in quality, good value Tenerife properties and are an established estate agent in the south of the island.