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Once you have signed the escritura for your new property, the
notary holds what may be regarded as the true original at the
notary office.
However,
a further “original” is forwarded to the Registry Office
for registration and stamping, which takes a few weeks. Whilst
the stamped escritura is an important document, and should be
kept in a safe place once received, it is not as vital to
produce as UK title deeds, as each subsequent purchaser
receives a new escritura on buying a property.
If
the premises are purchased with a mortgage, the bank issuing
the mortgage will hold the stamped and registered escritura.
You
should receive a Copia Simple (simple copy, as the name
suggests) at the time of signing the Escritura which is for
you to keep. It
is not actually necessary to produce the registered escritura
when you sell the property, but you must provide a Copia
Simple for the searches to be carried out by the prospective
purchaser or their agent.
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