Legal Verification: A Must Before Buying a Property in Spain

Buying a home is one of the most significant financial transactions a person can make in their lifetime. Therefore, the buyer must be properly informed and advised before signing any contract or delivering any amount of money. One crucial aspect is to know the property's ownership situation. In this sense, it is essential to know the difference between naked ownership and usufruct, as it can significantly affect the property's value and use.

In this particular case, the buyer found the house through a real estate agency, which was unaware that the seller did not have full ownership of the property. The buyer delivered an amount as a deposit trusting that the seller was the legitimate owner of the property. However, later, he discovered that the seller was only the owner of the naked property, that is, he had the right to own the property, but he could not use or enjoy it, as the usufruct fell on his mother until her death.

The buyer felt cheated and deceived because he had not been provided with clear and transparent information about the property's legal situation by the real estate agency. Additionally, as it was a property with usufruct, its market value was considerably lower than what he had paid as a deposit. However, real estate agencies include a series of clauses in the contracts they sign with the selling party that exempt them from any responsibility in these cases, making it legally challenging to claim any economic compensation for this part, except that it could be demonstrated that there was bad faith in the sale management or that they were aware of this fact and did not inform the buyer to protect their client's interest.

The buyer must be properly informed and advised before carrying out any purchase and sale operation of a property, even if it is done through a real estate agency. Knowing the property's legal situation is essential to avoid legal and economic problems in the future. Regardless of whether this constitutes a breach of the deposit contract, delivering an amount of money to the selling party already poses a significant problem since, at this point, the buyer depends on the other party's goodwill to recover their money. Otherwise, they will have to start a legal process that will likely be slow and costly.

At Valido Home, we offer the Legal Verification service, thanks to which any buyer can know in just 24 hours, online, and for a cost of €99 if the property seller they are interested in buying has full ownership of the property, that is, they have the total right over the naked property and usufruct. Thus, you can avoid legal and economic problems in the future and make the best decision for your investment. Contact us before risking your savings!