Buying a property abroad conjures up images of warm evenings relaxing on the terrace overlooking the sea. Keeping that image firmly in mind can help English buyers get through the complexity of dealing with another country’s legal system on buying property – which will invariably bring with it the need for a local lawyer or representative and possibly a translator generic actos.
Over the last year, there seems to have been an upsurge in people wanting to invest in foreign property and we have seen enquiries increasing in relation to buying in Spain. After clinching the deal, they return home to finalise the deal at a distance which can take them out of their comfort zone.
One couple contacted us in a hurry with a document they did not understand and which they had been told they needed to sign and return to enable the purchase to go ahead – they were working and could not get out to Spain. This turned out to be a Power of Attorney, written in two columns – one in English and one in Spanish – giving their local lawyer in Spain wide powers to buy the property on their behalf. This was urgent.
We needed to deal with this quickly. First, we explained that once the document had been signed, it would be necessary to send it to the Foreign and Commonwealth Office for an apostille to be fixed (and worked out how this would impact on their timetable). Then we discussed what the document meant and pointed out to them that the authorities to be given to the local lawyer were very wide. We needed to be comfortable that they understood these and they decided to go back to the Spanish lawyers to talk these through.
While they were on the phone to their local lawyer, we double checked the accuracy of the translation (otherwise we would have needed to go a reputable translator and certify his or her signature to the translation). It was fine. We then emailed the Spanish lawyer to ensure that the Power of Attorney was worded so that, once signed, it would be valid under both Spanish and English law. This meant a fair bit of amendment to the form of the Power of Attorney to include what is known as an “eschatocol” – a form of words necessary to ensure that the Power of Attorney would be valid not only under Spanish law but also English law. A few emails later, all was agreed.
By the end of the day, we were comfortable that our clients knew exactly what they were doing and how it was going to happen. All that was left to do was to arrange a quick meeting to establish their ID, complete the legal formalities and then arrange for a motorbike courier to deliver the notarised Power of Attorney to the FCO and then to the local lawyer. Job done brcrw4s. Our clients’ dream had come true and the next time they would be relaxing on a terrace in Spain, it would be on their terrace.
