When you start the process of buying a property, one of the steps to consider is to ask the seller for a Certificate of Debt, which, according to the LPH, will be necessary to grant the issue of a public document of sale. This certificate is requested when a home is in a Community of Owners, and will reflect any outstanding debt the property may have at present with the Community.

Despite reflected as necessary, as just mentioned, there is the possibility of registration of the sale without incorporating the certification, provided that the buyer will accept and exonerate the seller from the obligation.

The Debt Certificate, according to the Horizontal Property Act, must be issued within a maximum period of seven days, with the approval of the president. It will be the same and the person acting as secretary, who will answer, in case of negligence, for the accuracy of the information provided and any damages that its inaccuracy may cause.

However, regarding the period of issuance of this certificate, as many times the delay of the procedure is not applicants’ fault, but for other reasons; should not these always answer for the inconveniences caused to the seller and buyer.

Notably, the debts to take into account are those relating to the balance of the property in relation to the Community of Owners before the closure of the annual accounts, and cannot refer to future debts. Therefore, those claims which were approved but which happen to be paid after the transfer of ownership, will not be of compulsory inclusion in the Certificate.

Being the subject of property selling and buying a complex issue, with many nuances to consider, we would highly recommend contacting the experts in Daemi Zabalza & Associates, who have extensive experience and can advise and assist you during the entire process, so ensure maximum benefit.