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KEVIN TYLER
03-01-2006, 10:37 AM
Im selling a house in june, there is a, 50k mortgage on the property,i understand that after my bank manager receives his cheque for this amount, the mortgage against the property must be cancelled before the new deed is prepared for the new owner. I have hired a translator who intends to oversee the cancelation of the mortgage on my behalf, is there anything in Spanish law which would prevent this individual from doing this for me?

thank you

kevin

Expert advisor
03-09-2006, 12:22 PM
I can advice you that for the cancelation of the mortgage a translator is not required since it is an obligation the unilateral sigining by the bank that granted the mortgage, and consequently you do not have to sign anything.

You do not pay taxes for the cancelation of the mortgage, but the notary and land registry fees will amount about 500 Euros.

Should you have any further question, please do not hesitate to contact us.