Mortgages:
In mortgages, a person guarantees the payment of a debt or obligation with an asset, usually real estate, so that if the debt is not paid, the asset can be auctioned. They allow people to obtain financing for their needs. The person who establishes the mortgage always has the right to choose the notary who will advise them.
Necessary Documentation:
DNI, passport, NIE, or residence card of the natural persons who will establish the mortgage, or documents proving the identity and representation of legal entities.
Title deed proving ownership of the asset subject to the mortgage or a note from the Property Registry.
If necessary, for example, when a consumer mortgages, having processed the prior material transparency deed.
Mortgage Cancellation:
This consists of recording in the Property Registry that a mortgage debt has already been satisfied, so that it no longer appears encumbered by such a charge.
Requirements:
Request a certificate from the financial institution that granted the mortgage stating that the mortgage debt has been satisfied.
Only the representative of the financial institution will attend the signing at the notary's office, and they must prove their powers according to the general rules of corporate representation.
Novations and Subrogations:
These are modifications of a mortgage that can have various contents. Thus, among other scenarios, there can be changes of mortgage debtors (adding or increasing their number), change of creditor entity, extensions or reductions of term or capital, or alterations related to interest rates.
Requirements:
As a general rule, both the financial institution and the individuals who will remain on the mortgage loan must sign. This implies that individuals must present their DNI, passport, NIE, or residence card, and legal entities must present documents proving their identity and representation.
In some cases, it is necessary to process a prior material transparency deed (it is free of charge).
Prior Material Transparency Deeds:
These are notarial proceedings related to consumer mortgages, allowing the client to discuss the future mortgage with the notary, so they can understand the content calmly and without pressure, as only the clients and the notary are present. Those who establish the mortgage always have the right to choose the notary. This is a free notarial act.
Requirements:
The client or clients must inform the bank of the chosen notary.
The bank will electronically send a series of documents to the notary's office, and the mortgage cannot be signed in Catalonia until 14 calendar days have passed since the sending, or ten days if the client waives the extra period provided by Catalan legislation.
The client goes to the notary's office, and the notary will explain all the documents personally. After this, the mortgage signing date can be scheduled.
Dation in Payment:
These are contracts where an asset is delivered in exchange for the extinction of a prior debt, thereby releasing the previous debtor.
Necessary Documentation:
For mortgage loans and debt recognition:
Economic data of the transaction.
Title deeds of the properties to be mortgaged.
DNI of lenders and borrowers.
Marital economic regime of both.
If a company is involved, the powers of attorney or appointment of current administrators. Registration data in the Commercial Registry.
For urban properties, a certificate from the community of owners stating that community fees are paid up to date.
Cadastral reference (last IBI receipt).
Whether it is leased or not.
For mortgage cancellation or conditional sales:
Economic data of the transaction.
Deed of establishment of the mortgage or conditional sale.
DNI of lenders and borrowers.
If a company is involved, the powers of attorney or appointment of current administrators.
Registration data in the Commercial Registry.
Cadastral reference (last IBI receipt)
Whether it is leased or not.