Property Types & Forms of Ownership

Q: Forms of ownership

nuda propiedad subject to a reserved life usufruct — a price discount, but use only after the usufruct ends). Hacienda formula for the usufruct value: 89 − age (in %). → usually only AJD ~1 % instead of ITP (a tax advantage). ownership; the term „multipropiedad" is prohibited by law.

Q: Areas & land register

registral vs. catastral — 🟡 discrepancies are common, reconcile before buying. deslinde/linde/colindante (boundary/neighbour).

Property Guys

*From the ático to the possessió, from full ownership to the Mallorcan alou — the terms that show up in listings and the land register.*

Property types#

finca — any piece of real estate; finca rústica (rural, → building only restricted) vs.

finca urbana (urban).

finca registral — the unit recorded in the land register (≠ necessarily identical to

cadastral parcels).

casa de pueblo (village house), chalet, villa, adosado (terraced house),

pareado (semi-detached house).

ático (penthouse), dúplex, estudio, apartamento/piso, **planta baja/

bajo con jardín**.

possessió / finca señorial — large Mallorcan country estate; casa payesa —

traditional farmhouse. Often listed as a protected monument.

solar / parcela — building plot (solar = urban parcel ready to build on).

Forms of ownership#

pleno dominio (full ownership) = nuda propiedad + usufructo.
nuda propiedad & usufructo (usufruct): selling them separately is common (sale of the

nuda propiedad subject to a reserved life usufruct — a price discount, but use only after the usufruct ends). Hacienda formula for the usufruct value: 89 − age (in %).

proindiviso / copropiedad (co-ownership of shares); extinción de condominio (dissolution)

→ usually only AJD ~1 % instead of ITP (a tax advantage).

multipropiedad / aprovechamiento por turno (timeshare, Ley 4/2012) — not true

ownership; the term “multipropiedad" is prohibited by law.

VPO/VPP (subsidised housing) — price and disposal restrictions during the protection period.
servidumbre (easement), servidumbre de paso (right of way — crucial for fincas).
derecho de tanteo y retracto (pre-emption right — tenants, neighbours, authorities).

Balearic peculiarity: `censo` / `alou` / `lluïsme` ✅#

Historical forms of split ownership (long lease). alou/alodio: on every transfer for value of the beneficial ownership a laudemio (Catalan lluïsme) falls due. ✅ Rate after the reform 0.5 % (Ley 7/2017, Compilación Art. 56; previously 1 %). Redeemable (redención). → Check the land register.

Areas & land register#

superficie útil (usable area) vs. construida (built area, ~útil × 0.80–0.85) vs.

registral vs. catastral — 🟡 discrepancies are common, reconcile before buying.

referencia catastral (20-digit), coeficiente de participación (share of co-ownership),

deslinde/linde/colindante (boundary/neighbour).

declaración de obra nueva & división horizontal (legal division into

land-register units).

Sources (selection)#

Compilación DLeg 79/1990, Art. 56 (alou), Ley 7/2017 · Ley 4/2012 (timeshare)
Código Civil (servidumbre, tanteo/retracto) · Ley 13/2015 (Registro/Catastro)