Many people who buy property in Spain are told about the importance of making a Spanish will. However surprisingly few consider signing a lasting power of attorney at the same time. This can be particularly important for an older couple who have jointly owned property and bank accounts in Spain. If one of you becomes ill or cannot attend to matters in person the notaries and land registries in Spain will not allow you to sell your jointly owned property unless you have a power of attorney. Banks would also require a power of attorney if you want to close a joint bank account.
The power of attorney can be specific and just deal with your home and real estate or it can be a general power to deal with all your affairs. A couple can execute a joint or reciprocal power to each other which reduces the expense and this can include a substitution clause which would allow one of them to name another family member if they are not able to act.
To be valid in Spain the document has to be signed before a notary public. In Spain this can be done with your local notary and if you don´t speak Spanish you have to have a translator with you. However if you are not able to get to Spain we can arrange to have a power of attorney sent to you in two languages and this can be signed before a UK notary and then legalised by the UK Foreign office with the Apostille.
The power cannot be used after the death of the partner or spouse but it can be invaluable in reducing the stress when a partner becomes seriously ill or incapacitated.
For more please contact your nearest De Cotta Law office or email: [email protected]
Mijas-Costa / Calahonda – Coín – Nerja – Tenerife