Recent Amendments Come Into Force In Relation To The Spanish Public Notaries Act

Executive Summary

The recent amendments to the Spanish Public Notaries Act (Ley de 28 de mayo de 1862, del Notariado), which became effective on October 15, 2015, strengthen the regulation for notarial enforcement, with recently enacted rules applicable to the nonjudicial procedure. The principal rules of the enforcement procedure are the following:

• An electronic auction will be convened by the Notary, after certifying the established legal requirements and the capacity and legitimacy to carry it out. The auction will be held in the Auctions Portal of the State Agency Official Spanish Gazette (Portal de Subastas de la Agencia Estatal Boletín Oficial del Estado).
• The procedure begins with an auction announcement to be published in the Spanish Official Gazette (Boletín Oficial del Estado) at least 24 hours prior to the opening of the auction´s submissions. Once opened, it will be possible to make electronic bids for a period of at least 20 calendar days only.