José December 11, 2009 Legal , Real Estate , Info-Buyers , sellers info Views: 657 View Comments Print this post Send this post Copyright Jose Ramirez

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The closing day is strictly legal expenses associated with the deeds of sale and mortgage. This article will show you what the scriptures that occur at closing, what expenses are associated with them and which of them, correspond to the owner or buyer.

In a typical closing came three original scripts and three certified copies

In a typical end produce six scripts. By typical I mean the transaction is between a seller who has a mortgage to cancel to sell and the buyer gets a mortgage through financing. In this closing to occur:

1. The deed, which transfers title to the property.

2. Writing Constitució No mortgage, where you create a new mortgage to the buyer.

3. Writing mortgage cancelation, which cancels the existing mortgage on behalf of the seller.

The originals of these deeds remain with the notary and spend granted after the protocol of the notary. When registering property are certified copies of each of the scripts above. This process thus generates three original scripts and three certified copies .

Each script is a separate instrument

The scriptures are known as instruments, and each, both sales, like those of a mortgage or cancellation, as well as certified copies of them, pay fees, stamps and vouchers separately under different criteria. That is, it pays for the original sale, and cancellation of registration of mortgages and certified copies of each.

Costs associated with the granting of deeds

During the granting of the deed of sale or mortgage incur the following expenses:

Notary fees: This is the salary of the notary, which charges for its services.

Internal revenue stamps: The writing is accompanied by internal revenue stamps to pay for the registration of deeds, a contribution to the legal aid society, the tax attorney and other fees.

Proof of submission No: This is a scripture plantillita accompanying presentation at the register and which is paid.

Who pays the expenses of the sale deeds during

The Civil Code provides that, except "conmtrario agreed" the owner paid: fees, stamp of the original deed of sale and all costs associated with the cancellation of the existing mortgage. The buyer will apply: Registration fees of writing, charges for an original certificate from the same deed of sale and all expenses associated with the formation of a new mortgage.

In summary:

The owner will pay for: the (1) original of the sale, (2) original cancellation of the existing mortgage and the (3) a certified copy of the latter that will register the property.

The buyer will pay for: the (4) certified copy of the purchase (for submission to the land registry and publish the title ), by (5) write original articles of association and the mortgage (6) copies certified in the mortgage that will go to register to publish his debt.

You see, six items for six instruments. In the next article in detail desgolsaré you paid for every write.