Glossary of Terms

ABOGADO: lawyer

ACTA: document prepared by the notary to enter a property on the land register

AFECCIONES REGISTRALES: noted encumbrances on a property on the land register

ALTA CATASTRAL: official value of a property calculated by the town hall and always lower than the true value

BOLETIN DE ENGANCHE: certificate for the installation of electrical facilities, essential for getting an electrical supply

CERTIFICADO BANCARIO DE DEVISAS: certificate from the bank that the purchase price has been paid

CERTIFICADO FINAL DE OBRA: certificate from an architect to say that construction is complete

COMPRAVENTA: pre-purchase contract and basis of agreement between vendor and purchaser before sale is presented before the notary

DECLARACION DE OBRA NUEVA: declaration of construction of a new building which must be declared by the notary

ESCRITURA: certificate of purchase issued by notary

FIANZA: security payment or deposit

FINCA: rural farmland with or without a building

HACIENDA PUBLICA: income tax office or treasury

HIPOTECA: mortgage

IMPUESTO SOBRE BIENES INMUEBLES (IBI): ground tax, local authority annual contribution

IMPUESTO DE ACTOS JURIDICOS DOCUMENTADOS: stamp duty, approximately 0.5% of the purchase price

IMPUESTO DE TRANSMISIONES PATRIMONIALES: purchase tax on real estate, 7% of the sum stated on the escritura

IMPUESTO SOBRE CONSTRUCCIONES INSTALACIONES Y OBRAS: local tax for registration of new constructions, usually 1% of sum stated in the escritura

IMPUESTO SOBRE EL PATRIMONIO: property tax, usually 7% of the sum stated in the escritura

IMPUESTO SOBRE SUCCESIONES Y DONACIONES: death duty and inheritance tax

IMPUESTOS MUNICIPALES: local or municipal tax

IMPUESTO SOBRE EL VALOR ANADIDO (IVA): value added tax, 16% for land or garage, 7% for property

LICENCIA DE OBRAS: building permission obtained from the town hall or local authority

NUMERO DE IDENTIFICACION DE EXTRANJERO (NIE): tax identification number for non-residents

NUMERO DE IDENTIFICACION FISCAL (NIF): tax identification number for residents

NOTA SIMPLE INFORMATIVA: extract of property deeds giving details of ownership, property size, debts etc obtained from the land registry office

PERMISO DE OBRA MENOR: permission for small building works obtained from local authority

PERMISO DE OBRA NUEVA: permission for extension or new construction work obtained from the local authority

PLUSVALIA: capital gains tax

PODER GENERAL: power of attorney notarised by the public notary between you and your legal representative to allow them to act on your behalf during the transaction

REGISTRO DE LA PROPRIEDAD: land registry office

SUELO RUSTICO: country or farm land

SUELO NO URBANISABLE: land protected from building

SUELO URBANISABLE: land zoned for building – parameters according to local authority

SUELO URBANO: as above

VALOR CATASTRAL: official value of property, used by the town hall to calculate rate of ground tax due

VALOR COMPROBADO POR LA ADMINISTRACION: assumed value of property as the baseline for property tax

VALOR REAL: real or actual value