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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 satisfied, the asset can be auctioned. They allow people to obtain financing for their needs. The person who constitutes the mortgage always has the right to choose the notary who will advise him.
Necessary documentation:
DNI, passport, NIE or residence card of the natural persons who are going to constitute the mortgage or documents accrediting the personality and representation of legal persons.
Title deed proving ownership of the property to be mortgaged or a note from the Land Registry.
If necessary, for example when mortgaging a consumer, to have processed the prior act of material transparency.
Cancellation of mortgages:
These consist of stating in the Land Registry that a mortgage debt has already been satisfied so that it will henceforth appear without such a charge.
Requirements:
Request a certificate from the financial institution that granted the mortgage stating that the mortgage debt has been paid.
Only the representative of the financial institution will be present at the signing at the notary's office, who will have to accredit his or her powers in accordance with the general rules of corporate representation.
Novations and subrogations:
These are modifications to a mortgage that can have a varied content. Thus, among other cases, there may be changes of mortgagors (adding or increasing their number), change of creditor entity, extensions or reductions of term or capital or alterations in relation to the interest rate.
Requirements:
As a general rule, both the financial institution and the persons who are to remain on the mortgage loan must sign. This implies for natural persons to present their DNI, passport, NIE or residence card and for legal persons the documents that accredit their personality and representation.
In some cases, it is necessary to process a prior act of material transparency (this is free of charge).
Prior acts of material transparency:
These are notarial proceedings in connection with a consumer mortgage that involve the customer being able to discuss the future mortgage with the notary, so that he can find out about the content calmly and without pressure, as only the customers and the notary are present. Those who take out the mortgage always have the right to choose the notary. This is a free notarial procedure.
Requirements:
The client(s) must inform the bank of the notary of their choice.
The bank electronically sends 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 of the documents, or ten if the client waives the extra period established by Catalan legislation.
The client goes to the notary's office and the notary will explain all the documents personally. After this, the date for signing the mortgage can be scheduled.
Dations in payment:
These are contracts in which an asset is handed over in exchange for the extinguishment of a previous debt, thus releasing the previous debtor.
Necessary documentation:
For mortgage loans and debt acknowledgement:
The economic data of the operation.
Title deeds of the properties to be mortgaged.
Identity cards of lenders and borrowers.
Economic matrimonial regime of both.
If a company is involved, the powers of attorney or appointment of administrators in force. Details of registration in the Mercantile Register.
In the case of urban properties, certificate from the owners' association that they are up to date with the payment of community fees.
Cadastral reference (last IBI receipt).
Whether or not the property is rented.
For cancellation of mortgage or resolutive conditions:
The economic data of the operation.
Deed of the mortgage or resolutory condition.
ID cards of lenders and borrowers.
If a company is involved, the powers of attorney or appointment of administrators in force.
Registration details in the Mercantile Register.
Cadastral reference (last IBI receipt).
Whether or not it is rented.