Real Estate Glossary
Complete and up-to-date real estate dictionary with over 250 clearly explained terms: mortgage, deposit contract, land registry extract, NIE, certificate of habitability, property tax, valuation, Golden Visa… Everything you need to know before buying or selling a property in Spain.
Act of Delivery / Occupancy (Acta de entrega u ocupación)
A document signed on the day the property keys are handed over between buyer and seller. It records the apparent condition of the property, utility meter readings (water, electricity and gas), confirmation that all keys have been delivered, and that effective possession has been taken by the buyer. It helps prevent future disputes regarding the condition of the property at the time of handover.
Official document recording the handover of keys and transfer of possession.
Affidavit / Statement Deed (Acta de manifestaciones)
A notarised deed in which a person formally declares certain facts or circumstances under their own responsibility, without the notary verifying their accuracy. In real estate transactions, it is commonly used to declare beneficial ownership, source of funds, or specific personal or patrimonial situations.
Notarial declaration of facts made under the declarant’s responsibility.
Amortisation (Amortización)
The gradual repayment of a loan, typically a mortgage, through regular instalments that include both principal and interest over an agreed period.
Scheduled repayment of a mortgage or loan over time.
Amortisation, Early (Amortización anticipada)
The partial or total repayment of a mortgage before the agreed maturity date. Early amortisation may reduce total interest paid, although it can be subject to bank fees or penalties.
Early repayment of a mortgage before its scheduled term.
Annex (Anexo)
An additional document attached to a main contract or deed that contains complementary clauses, specifications or agreements related to the property transaction.
Supplementary document attached to a main contract or deed.
Appurtenant Elements (Anejos registrales)
Appurtenant elements are accessory parts of a property that are legally and registrally linked to a main unit. Common examples include parking spaces, storage rooms or annexes that cannot be transferred independently from the principal property unless expressly stated.
Accessory elements legally attached to a main property unit.
Assets Adjudicated by Banks (Activos adjudicados bancarios)
Assets adjudicated by banks are properties acquired by financial institutions through foreclosure or debt enforcement processes. These properties are often marketed directly by banks or through specialised real estate channels and may be subject to specific sale conditions.
Properties acquired by banks through foreclosure procedures.
Assignment of Payment (Delegación de pago)
Assignment of payment is a legal mechanism by which a debtor authorises a third party to receive payment on behalf of the original creditor. In real estate transactions, it is often used to redirect payments to banks, developers or other entitled parties.
Authorisation for a third party to receive payment.
Attorney-in-Fact (Real Estate Agent – API) (Agente de la Propiedad Inmobiliaria)
An Attorney-in-Fact (API) is a licensed real estate professional authorised to act on behalf of clients in property transactions. Their role may include mediation, representation, negotiation and legal assistance within the limits established by law.
Licensed professional authorised to represent clients in real estate matters.
Aval / Guarantee (Aval)
An aval or guarantee is a legal commitment by which a third party undertakes to fulfil an obligation if the principal debtor fails to do so. In real estate, guarantees are commonly used in lease agreements, purchases or financing operations.
Commitment securing the fulfilment of an obligation.
Bank Guarantee (Aval bancario)
A bank guarantee is a financial commitment issued by a bank ensuring that a contractual or financial obligation will be fulfilled if the principal debtor fails to comply. In real estate transactions, bank guarantees are commonly required in off-plan purchases, lease agreements or deferred payment arrangements.
Financial guarantee issued by a bank to secure an obligation.
Beneficial Ownership Deed (Acta de titularidad real)
A beneficial ownership deed is a notarial document identifying the individual who ultimately owns or controls a property or a legal entity involved in a real estate transaction. It is required under anti-money laundering regulations to ensure transparency and traceability of ownership.
Notarial declaration identifying the ultimate beneficial owner.
Base Amount (Tax Base) (Base imponible)
The taxable base on which a tax is calculated. In real estate transactions, it is used to determine the amount payable for taxes such as Property Transfer Tax (ITP), VAT, Stamp Duty (AJD) or capital gains tax.
Taxable amount used to calculate real estate taxes.
Beneficial Owner (Beneficiario real)
The natural person who ultimately owns or controls a property, even if it is held through a company or another legal structure. Identification of the beneficial owner is mandatory for compliance with anti-money laundering regulations.
Person who ultimately owns or controls a property.
Building Technical File (Bloque técnico del edificio)
A set of technical documents relating to a building, including architectural plans, installations, materials, construction details and compliance certificates. It is essential for maintenance, renovations and legal verification.
Technical documentation describing the construction and systems of a building.
Built Area (Metros construidos)
The total constructed surface of a property measured from the exterior perimeter of the walls, including interior walls and, depending on regulations, a proportional part of common areas.
Total constructed surface area of a property.
Cadastre (Catastro)
The Cadastre is the official public administrative register that records descriptive, graphic and economic information about real estate properties, including location, boundaries, surface areas, use and cadastral value. In Spain, cadastral data is mainly used for tax purposes and may differ from Land Registry data, as it does not prove ownership but supports taxation and planning.
Administrative register used mainly for property identification and taxation.
Cancellation of Registry Entry (Cancelación registral)
The legal procedure by which a charge, mortgage, lien or annotation is formally removed from the Land Registry once the secured obligation has been fulfilled. Cancellation requires appropriate documentary evidence, usually a notarial deed or certificate issued by the creditor.
Formal removal of a registered charge or annotation.
Capital Outstanding (Capital pendiente)
The outstanding capital refers to the remaining principal amount of a loan or mortgage that has not yet been repaid at a specific point in time. It does not include future interest and is a key figure when calculating early repayment, cancellation costs or outstanding debt at the time of sale.
Remaining unpaid principal of a mortgage or loan.
Charges / Encumbrances (Cargas)
Charges or encumbrances are legal rights or obligations registered against a property that may affect its ownership, use or transfer. Common examples include mortgages, liens, easements, judicial annotations or unpaid debts. A property with charges cannot usually be transferred free of risk without prior cancellation.
Registered legal burdens affecting a property.
Certificate of Habitability (Cédula de habitabilidad)
An official administrative certificate confirming that a residential property meets the minimum legal requirements for occupation, including safety, hygiene, surface standards and essential installations. It is often required to contract utilities, register occupancy or carry out certain administrative procedures.
Certificate confirming that a dwelling is legally fit for residential use.
Certificate of Zero Debt (Certificado de deuda cero)
A document issued by a bank or a community of owners certifying that there are no outstanding debts linked to a mortgage or community fees at the time of issuance. It is commonly required before property transfers to ensure the buyer assumes no hidden liabilities.
Certificate confirming that no outstanding debts exist.
Community of Owners (Comunidad de propietarios)
The Community of Owners is the legal entity formed by all owners of a building or residential complex under a horizontal property regime. It is responsible for managing, maintaining and financing common areas, services and installations through agreed community rules and budgets.
Legal association managing shared elements of a building.
Community Property Regime (Bienes gananciales)
A matrimonial property regime under which assets acquired during the marriage belong jointly to both spouses, regardless of which spouse acquired them. This regime directly affects ownership, consent requirements and property transfers.
Marital regime of joint ownership of acquired assets.
Construction Permit (Licencia de obra)
An administrative authorisation granted by the local authority that allows construction, renovation or extension works to be carried out in compliance with urban planning regulations and approved technical projects.
Official authorisation required to carry out building works.
Contract of Earnest Money (Contrato de arras)
A preliminary private agreement in which buyer and seller agree on the essential terms of a property sale and a deposit is paid as a guarantee. Depending on its type, it may allow withdrawal with penalties or enforce completion of the sale.
Preliminary agreement securing a property sale with a deposit.
Contract of Lease (Contrato de alquiler)
A legally binding agreement under which one party grants the right to use a property to another in exchange for rent, defining rights, obligations, duration, rent amount and termination conditions.
Legal agreement governing the rental of a property.
Contract of Private Sale (Contrato privado de compraventa)
A private contract executed between buyer and seller setting out the agreed conditions of a property sale prior to formalisation before a notary. It creates binding obligations between the parties.
Private agreement formalising a property sale before notarisation.
Cooling-Off / Contractual Withdrawal (Desistimiento contractual)
The contractual right of one or both parties to withdraw from an agreement under predefined conditions, usually involving financial consequences such as loss of deposit or penalties.
Contractual right to withdraw from an agreement.
Co-Ownership (Copropiedad)
A legal situation in which two or more persons share ownership of the same property, each holding an undivided share with specific rights and obligations.
Shared ownership of a property by multiple parties.
Data from Land Registry (Datos registrales)
Official legal information recorded in the Land Registry that describes a property’s ownership, legal status and registered rights. It includes details such as the registered owner, surface area, boundaries, charges, mortgages, easements and any other annotations affecting the property. Land Registry data is legally binding and prevails over other administrative records.
Official legal information recorded in the Land Registry.
Declaration of New Construction (Declaración de obra nueva)
A notarial deed by which the construction of a new building or extension is formally declared and registered. It includes technical documentation, building permits and certificates, and allows the property to be registered as a completed or ongoing construction in the Land Registry.
Notarial declaration registering a new or extended building.
Deposit / Security Deposit (Depósito de garantía – fianza)
A sum of money delivered as a guarantee to secure the fulfilment of contractual obligations. In rental agreements, it is used to cover potential damages or unpaid rent and is usually regulated by law regarding its amount, deposit and return conditions.
Financial guarantee securing contractual obligations.
Depreciation (Real Estate) (Depreciación inmobiliaria)
The loss of value of a property over time due to factors such as ageing, wear and tear, obsolescence, lack of maintenance or changes in market conditions. Depreciation is relevant for valuation, accounting and tax purposes.
Reduction in property value over time.
Due Diligence (Real Estate) (Due diligence inmobiliaria)
A comprehensive legal, technical, urban planning and financial review of a property carried out prior to purchase. Its purpose is to identify risks, verify ownership, detect charges, assess compliance with regulations and ensure that the investment is secure.
Comprehensive review of a property prior to acquisition.
Early Termination Clause (Cláusula resolutoria)
A contractual clause that allows one or both parties to terminate an agreement if specific conditions are met, such as non-payment, breach of obligations or failure to comply with agreed terms. In real estate contracts, it defines the causes, procedure and consequences of early termination.
Clause allowing contract termination upon predefined breaches or conditions.
Energy Performance Certificate (Certificado energético)
An official document that evaluates the energy efficiency of a property based on its consumption and CO₂ emissions. It is mandatory for selling or renting a property and must be issued by a qualified technician in accordance with applicable regulations.
Mandatory certificate assessing a property’s energy efficiency.
Energy Rating (Calificación energética)
The classification assigned to a property within the Energy Performance Certificate, usually expressed on a scale from A (most efficient) to G (least efficient). It reflects energy consumption and environmental impact and can influence property value and operating costs.
Energy efficiency grade assigned to a property.
Encumbrance Release (Alzamiento de cargas)
The legal act by which registered charges affecting a property, such as mortgages or liens, are formally cancelled once the secured obligation has been fulfilled. It usually requires a notarial deed and registration in the Land Registry.
Legal cancellation of registered charges on a property.
Execution Foreclosure (Ejecución hipotecaria)
A legal procedure initiated by a lender to recover an outstanding mortgage debt through the forced sale or auction of the property used as collateral, following the borrower’s default on payment obligations.
Legal process to enforce a mortgage through property sale.
Existing Building (Edificación existente)
A building that has already been constructed and legally recognised, as opposed to new construction. Existing buildings may be subject to specific regulations regarding renovation, energy certification and habitability.
Property that has already been built and legally recognised.
Excess Surface Area (Exceso de cabida)
A situation where the actual surface area of a property is greater than the area registered in the Land Registry. It may require a rectification procedure supported by technical and cadastral documentation.
Difference where real surface exceeds registered surface.
Expropriation (Expropiación forzosa)
The compulsory acquisition of private property by a public authority for reasons of public interest, subject to legal procedure and fair compensation to the owner.
Compulsory acquisition of property by public authority.
Final Works Certificate (CFO) (Certificado Final de Obra)
An official technical certificate issued by the project architect or technical director confirming that construction works have been completed in accordance with the approved project, building permits and applicable regulations. It is a key document required to obtain the Licence of First Occupation and to legally register the completed building.
Technical certificate confirming completion of construction works.
Fiscal Domicile (Domicilio fiscal)
The address registered with the tax authorities for tax and administrative purposes. In real estate matters, the fiscal domicile determines where tax notifications are sent and which tax office has jurisdiction over the taxpayer.
Official address registered for tax purposes.
Floor Clause (Cláusula suelo)
A clause included in some variable-rate mortgage contracts that sets a minimum interest rate to be applied, even if the reference index falls below that level. Floor clauses have been subject to extensive legal scrutiny regarding transparency and consumer protection.
Mortgage clause establishing a minimum interest rate.
Freehold Ownership (Dominio pleno)
Full ownership of a property, granting the holder complete rights of use, enjoyment and disposal, subject only to legal limitations. Freehold ownership contrasts with limited rights such as usufruct or surface rights.
Full and unrestricted ownership of a property.
Gain, Capital (Real Estate) (Ganancia patrimonial)
Capital gain in real estate refers to the positive difference between the purchase price of a property and its sale price, after deducting eligible costs and taxes. It is subject to taxation and may vary depending on the seller’s tax residency and applicable exemptions.
Profit obtained from the sale of a property.
Georeferencing (Georreferenciación)
The process of assigning precise geographic coordinates to a property or land parcel, allowing its exact location and boundaries to be identified on official maps. In Spain, georeferencing is essential for coordination between the Cadastre and the Land Registry.
Precise geographic identification of a property.
Gross / Net Sale Price (Bruto / Neto – precio de venta)
The gross sale price is the total agreed price of a property before deducting taxes, fees and expenses, while the net sale price represents the final amount received by the seller after all applicable costs have been deducted.
Difference between total sale price and net amount received.
Guarantee, Ten-Year Structural (Garantía decenal)
A mandatory insurance or guarantee covering structural defects affecting the building’s stability and safety for a period of ten years from completion. It is required for new construction and protects buyers against serious construction defects.
Ten-year guarantee covering major structural defects.
Habitability (Habitabilidad)
Habitability refers to the condition of a property being legally and physically suitable for residential use. It implies compliance with minimum requirements related to safety, hygiene, surface area, ventilation and basic services, as established by applicable regulations.
Legal and physical suitability of a property for residential use.
Handover of Keys (Entrega de llaves)
The act by which possession of a property is formally transferred from the seller or landlord to the buyer or tenant through the delivery of the keys. It usually takes place upon signing the deed of sale or the lease agreement and marks the effective start of possession.
Formal transfer of possession through delivery of keys.
Home Insurance (Seguro de hogar)
An insurance policy covering a residential property against risks such as fire, water damage, theft and civil liability. While not always mandatory, home insurance is usually required by mortgage lenders and strongly recommended to protect both the property and its occupants.
Insurance policy covering risks affecting a residential property.
Housing Mortgage (Hipoteca)
A mortgage is a loan secured against a real estate property, granting the lender a security interest over the asset until the debt is fully repaid. Failure to meet payment obligations may result in foreclosure proceedings.
Loan secured against a property as collateral.
IBI – Property Tax (IBI – Impuesto sobre Bienes Inmuebles)
IBI (Impuesto sobre Bienes Inmuebles) is a local annual property tax levied by Spanish municipalities on owners of real estate. It is calculated based on the cadastral value of the property and must be paid regardless of whether the property is rented, occupied or vacant.
Annual municipal property tax based on cadastral value.
Immovable Property (Bien inmueble)
Immovable property refers to land and anything permanently attached to it, such as buildings or constructions. In legal terms, it is distinguished from movable property and is subject to specific ownership, registration and taxation rules.
Land or buildings permanently attached to land.
Income Imputation on Real Estate (Imputación de rentas inmobiliarias)
Income imputation on real estate is a Spanish tax concept under which owners of non-rented residential properties are deemed to generate a notional taxable income. This imputed income is subject to personal income tax or non-resident income tax, depending on the owner’s tax status.
Notional taxable income assigned to non-rented properties.
Inscription in Land Registry (Inscripción registral)
The act of recording ownership, rights or charges affecting a property in the Land Registry. Registration provides legal certainty, public notice and protection against third parties, although ownership may exist even if not registered.
Official registration of property rights in the Land Registry.
Investment Property (Inversión inmobiliaria)
An investment property is a real estate asset acquired with the purpose of generating income, capital appreciation or both. Returns may come from rental income, resale gains or long-term value growth.
Property acquired for income generation or capital appreciation.
Joint Ownership (Copropiedad)
Joint ownership is a legal situation in which two or more persons hold ownership rights over the same property, each owning an undivided share. Each co-owner has rights and obligations proportionate to their share, including use, expenses and decision-making.
Shared ownership of a property by two or more parties.
Joint Owners’ Meeting (Junta de propietarios)
The Joint Owners’ Meeting is the governing body of a community of owners, where property owners meet to approve budgets, accounts, rules, maintenance works and other matters affecting common elements of the building or residential complex.
Assembly of property owners governing a community.
Land Registry (Registro de la Propiedad)
The Land Registry is the official public register that records ownership, rights and charges affecting real estate properties. Registration provides legal certainty, public notice and protection against third parties, and is a key element in property transactions.
Official public register of property ownership and rights.
Landlord (Arrendador)
The landlord is the individual or legal entity that owns a property and grants its use to another party under a lease agreement, in exchange for rent. The landlord retains ownership while assuming legal obligations related to maintenance and habitability.
Property owner who rents out a property.
Leaseholder / Tenant (Arrendatario)
The tenant is the person or entity that occupies and uses a property under a lease agreement, in exchange for the payment of rent. The tenant has rights and obligations defined by law and by the terms of the lease contract.
Person who rents and occupies a property.
Licence of First Occupation (Licencia de primera ocupación)
An administrative licence issued by the local authority certifying that a newly constructed property complies with the approved project and urban planning regulations, and is suitable for residential use. It is required to occupy the property and to contract utility supplies.
Municipal licence authorising first occupation of a new property.
Licence of Second Occupation (Licencia de segunda ocupación)
An administrative licence issued by the local authority confirming that an existing property remains suitable for residential use after a change of ownership, renovation or period of vacancy. It is often required to reactivate utility services.
Municipal licence confirming continued habitability of an existing property.
Liquidity (Real Estate) (Liquidez inmobiliaria)
Liquidity in real estate refers to the ease and speed with which a property can be sold on the market at a price close to its market value. High liquidity indicates strong demand and shorter selling periods.
Ease with which a property can be sold at market value.
Market Valuation (Valoración inmobiliaria)
Market valuation is the professional assessment of a property’s value based on market conditions, comparable transactions, location, characteristics and legal status. It is used for buying, selling, financing, taxation and investment analysis, and may be carried out by certified appraisers or valuation experts.
Professional assessment of a property’s market value.
Mortgage Interest Rate (Interés hipotecario)
The mortgage interest rate is the percentage applied to the outstanding loan capital that determines the cost of borrowing. It may be fixed, variable or mixed, and directly affects monthly repayments and the total cost of the mortgage.
Percentage charged on borrowed mortgage capital.
Mortgage Novation (Novación hipotecaria)
Mortgage novation is the modification of the original terms of a mortgage loan by agreement between the borrower and the lender. It may affect interest rates, loan term, repayment conditions or other contractual clauses, without changing the lender.
Modification of mortgage conditions with the same lender.
Mortgage Subrogation (Subrogación hipotecaria)
Mortgage subrogation is the process by which a mortgage loan is transferred from one lender to another, or from one borrower to another, while maintaining the existing loan. It is commonly used to improve financing conditions or when purchasing a property with an existing mortgage.
Transfer of a mortgage to a new lender or borrower.
Non-Cash Contribution (Aportación no dineraria)
A non-cash contribution is the transfer of assets other than money, such as real estate, into a company or legal structure. In real estate transactions, it is commonly used in corporate restructurings, capital increases or asset transfers, and may have tax implications.
Contribution of assets other than money, such as property.
Non-Resident Income Tax (IRNR) (IRNR – Impuesto sobre la Renta de No Residentes)
Non-Resident Income Tax (IRNR) is a Spanish tax applicable to individuals or entities without tax residence in Spain who obtain income or own real estate assets in the country. It applies, among others, to rental income, imputed income and capital gains.
Spanish tax applicable to non-resident property owners.
Notary Deed (Escritura pública)
A notary deed is a public document executed before a notary public, who verifies the identity of the parties, their legal capacity and the legality of the act. In real estate transactions, notary deeds are required for property transfers and mortgage formalisation.
Public legal document executed before a notary.
Notary Power of Attorney (Poder notarial)
A notary power of attorney is a public deed by which one person grants authority to another to act on their behalf in legal or administrative matters. In real estate, it is commonly used to allow property transactions without the physical presence of the owner.
Public deed granting legal representation to another person.
Option to Purchase (Opción de compra)
An option to purchase is a contractual agreement by which the property owner grants another party the exclusive right, but not the obligation, to purchase a property within a specified period and under agreed conditions. It is commonly used in lease-option arrangements or investment structures.
Contract granting the right, but not the obligation, to buy a property.
Outstanding Community Fees (Cuota de comunidad)
Outstanding community fees are unpaid amounts owed by a property owner to the community of owners for the maintenance of common areas, services and installations. These debts may be claimed from the property and must usually be settled prior to transfer.
Unpaid fees owed to the community of owners.
Parcel (Parcela)
A parcel is a defined plot of land with specific boundaries and surface area, which may be subject to planning regulations and building rights. Parcels can be urban, developable or rural, depending on their planning classification.
Defined plot of land with legally established boundaries.
Penalty Clause (Cláusula penal)
A penalty clause is a contractual provision establishing a predefined financial compensation payable in the event of breach of contract. In real estate agreements, it is commonly used to discourage non-compliance and to simplify damage claims.
Contractual clause setting financial consequences for breach.
Planning Classification (Calificación urbanística)
Planning classification determines the permitted use, building rights and development conditions of land or property according to urban planning regulations. It defines whether land is urban, developable or rural and sets construction limits.
Urban planning designation determining land use and building rights.
Planning Infringement (Infracción urbanística)
A planning infringement occurs when construction or land use does not comply with applicable urban planning regulations, licences or permits. It may result in administrative sanctions, fines, demolition orders or legal proceedings.
Breach of urban planning regulations or permits.
Property Age (Antigüedad del inmueble)
Property age refers to the number of years elapsed since a building was constructed or officially completed. It may influence valuation, maintenance requirements, energy efficiency and applicable regulations.
Number of years since a property was built.
Property Management (Administración de fincas)
Property management refers to the professional administration of residential or commercial properties, including maintenance, accounting, legal compliance and representation of owners before public authorities and communities of owners.
Professional management of properties and communities.
Property Transfer Tax (ITP) (Impuesto de Transmisiones Patrimoniales)
Property Transfer Tax (ITP) is a regional tax applicable in Spain to the purchase of second-hand properties. The tax rate varies by region and is calculated based on the taxable base determined by law.
Tax applied to second-hand property purchases.
Property Value Reference (Valor de referencia)
The property value reference is an official value established by the tax authorities based on market data, used as a minimum taxable value for certain taxes. If the declared purchase price is lower, taxes may still be calculated using this reference value.
Official reference value used for tax calculation.
Real Estate Appraisal (Tasación inmobiliaria)
A real estate appraisal is an objective and professional valuation of a property carried out by a certified appraiser, based on market data, comparable properties, location, physical characteristics and legal status. It is commonly required for mortgage financing, taxation, inheritance and investment decisions.
Certified professional valuation of a property.
Reservation Agreement (Acuerdo de reserva)
A reservation agreement is a preliminary contract by which a buyer reserves a property for a limited period in exchange for a deposit, temporarily removing it from the market. It usually sets out basic terms, deadlines and the consequences if the transaction does not proceed.
Preliminary agreement to reserve a property with a deposit.
Return on Investment (Yield) (Yield inmobiliario)
Return on investment (yield) measures the profitability of a real estate investment, typically expressed as a percentage. It is calculated by comparing the annual net income generated by the property with its acquisition cost or market value.
Percentage measure of real estate investment profitability.
Rural Land (Suelo rústico)
Rural land refers to land classified as non-urban under planning regulations, typically intended for agricultural, forestry or environmental use. Construction rights are usually limited and subject to strict regulatory conditions.
Non-urban land subject to restricted development rules.
Stamp Duty Tax (AJD) (Impuesto de Actos Jurídicos Documentados)
Stamp Duty Tax (AJD) is a Spanish tax levied on certain notarial deeds, administrative documents and registrable acts. In real estate transactions, it typically applies to mortgage deeds and, in some cases, to new-build property purchases, depending on regional regulations.
Tax applied to notarised and registrable legal documents.
Structural Warranty (Ten Years) (Garantía decenal)
The ten-year structural warranty is a mandatory guarantee covering serious structural defects affecting the stability and safety of a building for a period of ten years from completion. It is required for new constructions and protects buyers against major construction failures.
Mandatory ten-year guarantee covering major structural defects.
Surface Area (Usable) (Metros útiles)
Usable surface area refers to the interior space of a property that can be effectively used, excluding walls, structural elements and, in most cases, common areas. It is a key metric for assessing functionality and value.
Interior surface area available for effective use.
Supply Utilities (Water, Electricity, Gas) (Suministros)
Utilities supply refers to essential services required for the normal use of a property, including water, electricity and gas. Activation or transfer of utilities usually requires proof of ownership or occupancy and compliance with habitability requirements.
Essential utility services for residential or commercial use.
Tenant (Arrendatario)
A tenant is the person or legal entity that occupies and uses a property under a lease agreement in exchange for the payment of rent. The tenant’s rights and obligations are defined by law and by the terms agreed in the lease, including use of the property, duration, maintenance duties and termination conditions.
Person or entity renting and occupying a property.
Title Deed (Título de propiedad)
A title deed is the legal document that evidences ownership of a property. In Spain, ownership is formally documented through a notarial deed of sale and reinforced by registration in the Land Registry.
Legal document proving ownership of a property.
Transfer of Ownership (Compraventa)
Transfer of ownership is the legal act by which property ownership is transferred from seller to buyer in exchange for a price. It is typically formalised through a notarial deed and may be subject to taxes, registration and compliance with legal requirements.
Legal transaction transferring property ownership.
Urban Planning (Urbanismo)
Urban planning refers to the set of regulations and planning instruments governing land use, building rights and urban development. It defines what can be built, where and under what conditions, ensuring orderly and sustainable growth.
Regulatory framework governing land use and urban development.
Use of Land (Uso del suelo)
Use of land defines the legally permitted purpose of a plot or property, such as residential, commercial, industrial or mixed use, according to urban planning regulations.
Legally authorised purpose assigned to land or property.
Usufruct (Usufructo)
Usufruct is a real right that allows a person to use and enjoy a property owned by another, without altering its substance. It is commonly used in inheritance, family arrangements and estate planning.
Right to use and enjoy property owned by another.
Usufructuary (Usufructuario)
A usufructuary is the individual entitled to exercise the right of usufruct, benefiting from the use and enjoyment of a property while preserving its condition.
Person holding the right of usufruct.
VAT on Real Estate (IVA inmobiliario)
VAT on real estate is the Value Added Tax applicable to certain property transactions, mainly new-build purchases and developer sales, according to Spanish tax law.
Value Added Tax applied to specific property transactions.
Visible / Hidden Defects (Vicios ocultos)
Visible or hidden defects are flaws affecting a property that may reduce its value or usability. Hidden defects are not apparent at the time of purchase and may give rise to legal claims after completion.
Property defects that may generate post-sale liability.
Zoning Area (Zona urbanística)
A zoning area is a territorially defined section subject to specific planning rules that determine permitted land uses, building density and development conditions.
Planning-designated area with specific development rules.
Zoning Regulations (Zonificación del suelo)
Zoning regulations establish the legal rules governing land use, building parameters and development limitations within each zoning area.
Legal rules defining land use and development conditions.
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