When you are buying a property, it is important that you understand the role of title insurance. Title insurance is a one-time purchase required for the transfer of a property in Spain. The policy is obtained through insurance companies and is processed through a law firm specializing in real estate. Title insurance protects the owner’s interest in the property and is in force as long as the owner has an interest in the property. It is important to note that title insurance does not protect against risks such as zoning changes, environmental hazards or undisclosed liens. For this reason, it is important to consult with a professional before making any decisions about the purchase of your property.

This insurance protects the buyer from possible defects or encumbrances on the title, third party claims, inheritance rights, fraud in the transaction, errors in the deeds, lack of authorization of the parties, debts or open permits with the city, etc.

The rate decreases on a sliding scale for properties valued at more than one million dollars.