Spain - How to Protect your interests
Much has been written and said about the pitfalls of buying property
in Spain. However, purchasing a property in Spain is as safe as purchasing
a property in the UK, provided you have appropriate legal assistance.
The rest of this leaflet provides a general guideline on purchasing
a property in Spain and related Spanish Taxes.
The aim of this introductory letter is to provide you with a guide
to choosing adequate legal assistance. Several rules should be borne
- Seek advice from a specialist in Spanish Law.
Ensure that when you employ a Spanish Lawyer he or she is an Abogado, member
of one of the Spanish Bars. A Gestor is not a Spanish Lawyer.
There are also a number of English firms which claim to have an Overseas
or Spanish Law department. Ensure that they have an in-house Spanish Abogado.
Otherwise they will delegate the work to their overseas lawyers as associates
or correspondents or associated offices.
- Professional indemnity policy and the sum that it covers.
Unlike Solicitors, Spanish Lawyers are not obliged to hold professional indemnity
insurance. However, most of them will have some sort of professional indemnity
policy. Before you instruct them, ask what is the maximum liability covered.
Please remember that a cover for 187,000 EUROS is only about £125,000.
- When obtaining estimates, check the work covered by the figures.
Some lawyers may cut corners in the conveyancing procedure. This could have
disastrous results and you may find unpleasant surprises in the future.
- Beware of those who inaccurately translate their professional
title to imply that they are Solicitors and/or Barristers.
An Abogado is a legal professional quite different from their English counterparts.
any inaccurate translation could mislead clients.
Whenever someone claims to be a Solicitor or a Barrister, do not hesitate
to ask them whether they are members of The Law Society or any of the Inns
of Court in London.
The Head of our Spanish Law Department is an Abogado, member of the Bilbao
Bar. Her services are part of Baily Gibson, a firm of Solicitors established
120 years ago, regulated by The Law Society and with a professional indemnity
cover of £2,000,000 per case.
Property in Spain
Taxes on Purchase