In mortgages, a person guarantees the payment of a debt or obligation with an asset, normally a property, so that if the debt is not satisfied, the asset can be auctioned. They allow people to obtain financing for their needs. The person constituting the mortgage always has the right to choose the notary who will advise him.
Necessary documentation:
DNI, passport, NIE or residence card of the natural persons who are going to constitute the mortgage or documents that accredit the personality and representation of legal persons.
Title proving ownership of the property subject to the mortgage or note from the Land Registry.
If necessary, for example when a consumer mortgages, having processed the prior document of material transparency.
Mortgage Cancellation:
They consist of verifying in the Property Registry that a mortgage debt has already been satisfied so that it appears from now on without said charge.
Requirements:
Request a certificate from the financial institution that granted the mortgage that the mortgage debt has been satisfied.
Only the representative of the financial institution will attend the signature at the notary, who will have to prove their powers in accordance with the general rules of corporate representation.
Novations and subrogations:
They are modifications of a mortgage that can have a varied content. Thus, among other cases, there may be changes in mortgage debtors (adding or increasing their number), change of lending entity, extensions or reductions of term or capital or changes in relation to the interest rate.
Requirements:
As a general rule, both the financial institution and the people who are going to remain in the mortgage loan must sign. This implies for natural persons to present their DNI, passport, NIE or residence card and for legal persons the documents that prove their personality and representation.
In some cases, it is necessary to process a prior document of material transparency (it is free).
Previous records of material transparency:
These are notarial files in relation to a consumer mortgage that mean that the client can deal with the future mortgage with the notary, so that he can know the content calmly and without pressure, since only the clients and the notary are present. . Those who constitute the mortgage always have the right to choose the notary. It is a free notarial performance.
Requirements:
The client or clients must notify the bank of the notary they choose.
The bank electronically sends a series of documents to the notary and the mortgage cannot be signed in Catalonia until 14 calendar days have elapsed since it was sent or ten if the client waives the extra term established by Catalan legislation.
The client goes to the notary and the notary will explain all the documents personally. After that, the mortgage signing date can be programmed.
Dations in payment:
They are the contracts in which an asset is delivered in exchange for the extinction of a previous debt, thus leaving the previous debtor free.
Necessary documentation:
DNI, passport, NIE or residence card of natural persons or documents that prove the personality and representation of legal persons.
Title that accredits the ownership of the asset that is the object of the dation in payment.
Identification of the debt to be extinguished.