The "Nota Simple": A Crucial Extract from the Spanish Property Register

In the Spanish real estate field, the "nota simple" is a fundamental document that provides essential information about the legal status of a property. Issued by the Property Register (Registro de la Propiedad), it acts as a concise and public extract of the registered data of a real estate asset. Understanding its content is crucial for buyers, sellers, financial entities, or anyone interested in knowing the status of a property.

What information does a "nota simple" contain?

A "nota simple" details the following aspects of a property:

1. Property Description:
   • Identification: Unique property registration number.
   • Location: Full address, including street, number, floor, door, municipality, and province.
   • Boundaries and Surface Area: Description of the property's boundaries and its surface area in square meters (both built and plot area, if applicable).
   • Classification: Whether it is urban or rural.
   • Cadastral Reference: The property's unique identifier in the Cadastre, allowing for its geographical and fiscal location.
2. Ownership:
   • Current Owner(s): Full name or company name of the property owner(s).
   • Type of Ownership: Whether it is full ownership, bare ownership (nuda propiedad), usufruct, etc.
   • Percentage of Participation: In the case of multiple owners, the percentage of ownership corresponding to each is indicated.
   • Title of Acquisition: Specifies how the current owner acquired the property (purchase and sale, inheritance, donation, etc.) and the date of the title.
3. Charges and Encumbrances:
   • This is one of the most important sections, as it reveals any limitations or debts affecting the property. It may include:
     • Mortgages: Identification of the mortgage creditor, principal capital, interest, terms, and date of constitution.
     • Embargoes (Seizures): If the property has been seized for debts, the amount, the body that ordered it, and the date are detailed.
     • Easements: Rights of way, light, views, or other use limitations affecting the property for the benefit of another property.
     • Resolutory Conditions: Clauses that, if breached, could lead to the cancellation of the property transfer.
     • Preventive Annotations: Warnings about possible litigations or pending rights that could affect ownership.
     • Fiscal Charges: Possible pending tax debts associated with the property.
4. Pending Entries:
   • Indicates whether any document (another purchase and sale, mortgage cancellation, etc.) has been submitted to the Register and is pending inscription. This is relevant because it could change the legal status of the property shortly.
5. Date of Issue:
   • The date on which the "nota simple" was issued, crucial for verifying the timeliness of the information.

Importance of the "Nota Simple":

The "nota simple" is a document of a purely informative nature and does not constitute a title of ownership. However, its value lies in offering a clear and up-to-date picture of a property's legal situation. Before any real estate operation (purchase, sale, lease with option to buy, mortgage application), it is essential to request and analyze a "nota simple" to:

• Verify the real ownership of the property.
• Ascertain the existence of charges or debts that may affect the operation.
• Ensure that the property description matches reality.
• Detect possible litigations or encumbrances that could lead to future problems.