what is the new Building declaration
Within the real state world, one of the most common procedures when selling or mortgaging an estate is to do the new building declaration.
But , ¿What exactly is the new building declaration?
NEW BUILDING DECLARATION
Meaning of new building declaration
The concept or meaning of new building declaration can be explained in many and various ways, though, the most common or correct description would be to explain new building as: that formal act by means of which the proprietor of the registered property says that he is building, or has already built, a house, all of which identifying the characteristics and descriptions of such building. This declaration can include other elements such as swimming pools, wells, sanitation, etc.
So, first, as it is a formal declaration that needs to be recorded at the Land Registry, it means that we shall have to go to the Notary first in order for us to do the deed and pay for the pertinent taxes before proceeding to the Land Registry.
What different types of new building declaration are there?
Traditionally, we have to make a difference between “new” building (such cases in which the work has ended recently or those where they are still working on it) and “ancient” (those which the property was built a long time ago but had not been recorded).
Do I have to compulsory record the declaration of new building?
Second, we have to assess the obligation or not for recording the new building declaration. First of all , we must say and make a difference between whether the property object of such declaration is for one’s own use or whether it is going to be sold or if the property is or will be a mortgage loan guarantee.
Starting from the point that the recording at the Land Registry is voluntary, we can inform you that, if the new building to be declared is one of our own and we are not going to sell it or ask for a mortage loan, it would not be necessary to record it. Nevertheless, after all the recent difficulties of the real-estate market, whenever we wanted to sell the property or ask for a mortgage loan, we should have to compulsory record it.
Who is going to manage the new building declaration?
Third, we have to assess who would be going to do the new building declaration. The person in charge for the recording is the owner of the building, though, the responsibility and cost based on other elements of the negotiation during the process of selling the building, will be decided. We could see that it may be the current case in which the seller of the property is the person in charge or, in other not so common circumstances , it is the buyer who does it.
What is necessary to do the new building declaration?
In order to do prepare the new building declaration, we shall have access to some documents, such as certificate of ownership, registry’s information and the pertinent technical reports and certificates among others.
Some recommendations for the declaration of new building:
– If you are in the process of selling your property, keep this matter in mind before going through the negotiation of the sale.
– If you are the seller, check how does your property appear at the Land Registry and at the Catastre.
– If you are the buyer, check that the meters stated at the Land Registry, Catastre and the physical ones of the building are all the same.
– We advice you that, according to the most recent legislation in some areas, such as Cataluña, you take into account the risks if the differences between meter of the property recorded and the physical ones are not the same.
– Bear in mind all those legal matters before signing a private sale agreement with delivery of earnests.
– If you have any doubt, do not hesitate to contact an expert lawyer in this subject.