Spanish term

English term

Abogado

Lawyer

Administrador de Fincas

Licensed property administrator

Agente de la Propiedad Inmobiliaria (API)

Property agent

Amortización

Depreciation. Redemption

Arras

Down payment, deposit

Aval

Guarantee requested by the bank to approve a mortgage application

Caja de ahorros

Savings bank

Cargas

Charges. Burden

Certificado registral

Certificate informing about debts of a specific property

Chalet

Villa

Comunidad de propietarios

Community of property owners

Contrato de Compraventa

Private property sales contract. The buyer pays a 10% deposit and the contract is signed by buyer and vendor.

Documento privado

Private document

Documento público

Public document

Escritura

Deeds

Escritura pública de compraventa

Title Deed

Euribor

Euro Interbank Offered Rate

Finca

Land or land and house

Gestoría

Firm specialised in obtaining official authorisations, permits, licences etc

Hipoteca

Mortgage

Impuesto sobre Bienes Inmuebles

Yearly property tax

Impuesto sobre el Incremento del Valor de los Terrenos

Tax on the increase of land value

Inmobiliaria

Estate agent

Libre de cargas

Free of debts

N.I.E.

Identity Number for Foreigners

Notario

Notary

Nota simple

Certificate from Property Registry

Obra nueva

Document certifying a brand new building

Oferta vinculante

Bank document certifying the exact mortgage conditions

Pago en efectivo

Cash payment

Piso

Flat

Poder

Power of attorney

Préstamo con techo

Loan with variable interests with fixed minimum and maximum

Préstamo hipotecario

Mortgage loan

Plusvalía Municipal

Capital gains tax on the sale of property

Registro de la Propiedad

Property ownership Register

Residencia (permiso)

Residency (permit)

Residente

Resident

Seguro de amortización de préstamos

Loan repayment insurance

Seguro Multirriesgo Hogar

House insurance

Señal

Deposit, down payment

Tasación

Independent valuation of property

Terreno

Plot of land

Tipo de interés

Rate of interest

Título de propiedad

Deeds stating the ownership of property, date of sale

Valor Catastral

Assessed value of property for tax purposes