First of all, it is necessary to underline the difference between Luxembourg and Spain with regard to the roles of the stakeholders. If in Luxembourg, it is the notary who takes care of all the formalities, including research on the property, debts, easements, land registry, etc., this work is divided into two parts in Spain: research on the property, authorizations, debts and its occupants are made by a lawyer specializing in real estate and the signing of the deeds is done by the notary.

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When purchasing a new build in Tenerife, the developer must provide us with the "contrato compra venta", a contract which clearly states that your property is completed and all "cedulas" (proofs of completion required for electricity, habitability, water, etc.) are present. We also request a description of the location of the apartment or property within the complex. This is to prevent you from buying the wrong one than the one shown in the photo.

 

The “contrato compra venta” must include a due date and specify the manner in which the amounts will be paid. The construction guarantee of the building must be mentioned, as well as a "Nota Simple" (extract from the land register indicating that there are no debts, mortgages or charges on the property). We also need a certificate from the community stating that all taxes have been paid to the community up to the date of the deed. Once all these documents have been collected, we give them to the registrar (notary) so that he can prepare a draft deed.