In contrast to German law, it is sufficient to conclude a private purchase contract (contrato privado) and hand over the property to acquire ownership of a property in Spain. However, a notarized purchase contract is usually concluded. An entry in the Spanish property register (registro de la propiedad), similar to the German land registry, is not mandatory, but is common and useful for reasons of legal certainty. Entry in the property register offers protection in the event that the property is sold to another interested party and serves as proof of ownership vis-à-vis third parties. In the event of a double sale, according to Art. 1473 Código Civil (Spanish Civil Code), the person who first proves the entry in the property register is deemed to be the owner.

Purchase option agreement

Interested buyers have the option of concluding a so-called purchase option contract. This type of contract is not explicitly regulated by law, but is nevertheless frequently used in Spain. The interested buyer has the opportunity to "reserve" the property in return for payment of an option premium (usually ten percent of the purchase price). It is also possible to agree this purchase option as part of a tenancy agreement.

If the German owner of a property dies in Spain, German inheritance law applies. This is particularly important with regard to the inheritance quota. For an entry in the Spanish land register, Spanish law stipulates that the inheritance must be expressly accepted by notarial deed.

Lawyer Martina Dyllong
Johannesstrasse 33
44137 Dortmund
info@kanzlei-dyllong.de
www.kanzlei-dyllong.de