Faq

The New Works Deed and Horizontal Division means making public the fact that on a registered building (that refers to the land) a construction will be executed (New Works), so that this building disappears as such in the Registry and becomes a collection of as many buildings/homes there are in the horizontal division.

It can be signed as soon as the building permit has been conceded, a copy of which should be taken to the public notary, as well as an architect’s certificate stating that the description made in the document on new works and horizontal division corresponds with the project for which the building permit has been conceded. It is necessary for this to be signed before the mortgage loan to be made out to the developer can be made public (as the guarantee made on returning the loan is the mortgage to be made in favour of the financial institution on the resulting new buildings/homes), and, if there is no existing loan, is vital to be able to pass on the homes to the customers.

This document establishes the quota that will correspond to each registered building with respect to the total group of buildings, taking into account the proportional distribution of the communal areas. In those cases where there are several buildings within the same development, a particular quota is set for each building and another general one from the whole, including in the former the communal areas directly linked to the building and the latter to the outer communal areas. Moreover, the garages are set apart with a different quota. If there are several entrances for the same building, they may also be differentiated with a special quota, if it is thought convenient.