Mortgages:
In mortgages, a person guarantees the payment of a debt or obligation with an asset, normally real estate, so that in case the debt is not satisfied, the asset may be auctioned. They allow people to obtain financing for their needs. The person establishing the mortgage always has the right to choose the notary who will advise them.
Required Documentation:
DNI, passport, NIE, or residence card of the individuals who will establish the mortgage, or documents that prove the identity and representation of legal entities.
Title deed that proves 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:
Consists of recording in the Property Registry that a mortgage debt has already been satisfied, so that it no longer appears with said encumbrance.
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, who must prove their powers according to the general rules of corporate representation.
Novations and Subrogations:
These are modifications to a mortgage that can have varied content. Thus, among other situations, there may 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 the interest rate.
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 notary deeds related to consumer mortgages, which allow 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 establishing the mortgage always have the right to choose the notary. This is a free notary service.
Requirements:
The client or clients must inform the bank of the notary they choose.
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 if the client waives the additional period provided for by Catalan legislation.
The client goes to the notary's office, and the notary will explain all the documents to them personally. After this, the mortgage signing date can be scheduled.
Dation in Payment:
These are contracts in which an asset is delivered in exchange for the extinction of a prior debt, thereby releasing the previous debtor.
Required Documentation:
For mortgage loans and debt recognition:
Economic data of the transaction.
Title deeds of the properties being mortgaged.
DNI of lenders and borrowers.
Marital economic regime of both.
If a company is involved, current powers of attorney or administrator appointments. Registration data in the Commercial Registry.
For urban properties, a certificate from the homeowners' association confirming that community fees are up to date.
Cadastral reference (last IBI receipt).
Whether or not it is leased.
For mortgage cancellation or resolutory conditions:
Economic data of the transaction.
Deed of constitution of the mortgage or resolutory condition.
DNI of lenders and borrowers.
If a company is involved, current powers of attorney or administrator appointments.
Registration data in the Commercial Registry.
Cadastral reference (last IBI receipt)
Whether or not it is leased.