Spain maintains two systems for the tracking of real property. The catastral system (“catastro”) records the location and general characteristics of property throughout Spain and is used for, amongst other purposes, taxation. The other system, and which is of principal importance for the purchase and sale of real property, is the Real Property Registry system (“Registro de Propiedad”). Real property registries are located throughout Spain and each one is responsible for the properties located within its designated area. These registries are connected and coordinated by a centralized system and data base, but all transfers of property must be carried out in the local registry. The information recorded in the registries is available to the general public and provides certainty in all manner of real estate transactions. Except for very limited exceptions, the buyer of property can rely on the content in the registry for its accuracy including: ownership, mortgages, other liens and encumbrances, pending property taxes, etc.
