Property for sale abroad - glossary of legal terms
When you look at property for sale abroad, you may well be able to conduct your viewing and initial enquiries in English. However, if you want to become the owner of properties abroad, you will find all legal documents will be laid out in the language of the country you are buying in. It may even be that the legal papers may be in a different alphabet! For this reason, once you decide to see the perfect property for sale abroad, you should arrange for all the necessary paperwork to be thoroughly checked over by a bilingual expert in properties abroad.
The glossary below is restricted to languages that use the Latin alphabet.
Buying properties abroad - Spain
ABOGADO: Lawyer. AFECCIONES REGISTRALES: Charges against Spanish properties in the land registerARRAS: Secured deposit. ARRENDAMIENTO DE OBRA: Contract for work and labour. CARGAS: Land charges registered against Spanish properties.CERTIFICACION: Certification. CERTIFICADO FINAL DE OBRA: The architect´s certificate that Spanish properties have been finished in compliance with building regulations. ESCRITURA PUBLICA de COMPRAVENTA: Title deeds containing a detailed description of Spanish properties.FIANZA: Deposit, security.
FINCA: Property, small piece of worked land.
GESTOR: Specialist used to obtain official authorisations, permits and licences relating to Spanish properties.
IMPUESTO SOBRE SUCESIONES Y DONACIONES: Death duty, inheritance tax and gift/donation tax.
IMPUESTO SOBRE EL VALOR AÑADIDO (IVA): Value Added Tax (VAT).
IMPUESTO SOBRE LA RENTA A PERSONAS FISICAS (IRPF): Income tax.
NIE (NUMERO PERSONAL DE INDENTIFICACION DE EXTRANJERO): ID number for non-residents.
NOTARIO: Public official who records the fact that the title deed of Spanish properties has been signed in front of him.
PLUSVALIA: Capital Gains Tax on Spanish properties.
REGISTRO DE LA PROPIEDAD: Land Register.
RESIDENCIA: Residency permit.
TRASPASO: Transfer of rental or lease contracts on Spanish properties.
Property for sale abroad - France
ACOMPTE: Deposit on property in France.
AGENCE IMMOBILIERE: Estate agent
CERTIFICAT D´URBANISME: Zoning certificate for property in France.
COMPROMIS DE VENTE: Contract for sale and purchase of land or property in France.
DEPOT DE GARANTIE: Deposit paid when renting or buying a property in France.
DROIT DE PREEMPTION: Pre-emptive right to acquire the property in France instead of purchaser.
DROIT DE SUCCESION: Inheritance tax payable on property in France.
IMMOBILIERE: Real estate agent.
MAIRIE: Town hall.
PLUS VALUE: Capital gain realised on the sale of property in France.
TAXE SUR LA VALEUR AJOUTEE (TVA): Value added tax.
Buying properties abroad - USA
ATTORNEY: Lawyer/Solicitor
CLOSURE: Completion
LOT: Plot of land
REAL ESTATE: Property
REALTOR: Estate agent
YARD: Garden
Property for sale abroad - Portugal
ADVOGADO: Lawyer/Solicitor
AGRIMENSOR: Surveyor
AMORTIZAR/AMORTIZACAO: Instalments (ie on a mortgage)
ARRENDAMENTO: Lease
CADERNETA PREDIAL RUSTICO/URBANO: Property registration document rural/urban
CAMBIO: Exchange (of documents and currency)
CIDUSULA DE ANULACAO: Conditional clause
CONSERVATORIA DO REGISTRO PREDIAL: Land registry
CONTRACTO DE ARRENDAMENTO: Lease or rental contract
CONTRACTO DE VENDA: Contract of sale
COPIA LEGALIZADA: Certified copy
DEPOSITO: Deposit
ESCRITURA PUBLICA DE COMPRA E VENDA: Notorised deed of sale
HIPOTECA: Mortgage
IMPOSTO DE MAIS VALIAS: Capital Gains Tax
IMPOSTO DE SELO: Stamp duty
IMPOSTO SUCCESSORIO: Inheritance tax
LICENCA DE OBRAS: Building Licence
NOTARIO: Notary Public
PROCURADOR: Power of attorney
SISA: Property transfer tax
VALOR TRIBUTAVEL: Rateable value of property
When buying properties abroad it may be tempting to think you know enough about the language to carry out the transaction without recourse to legal advice. This is a surprisingly common mistake made by people desperate to close quickly on a particular property for sale abroad. Experience is against them. Specialist legal professionals are a necessary expense when buying properties abroad.
