Interested in taking part in an auction published in the Boletín Oficial del Estado (BOE, Spain's Official State Gazette) but getting lost in the legal jargon? In this glossary we explain, in plain language, more than 200 terms relating to judicial and BOE auctions. Find out what an "award in payment" (adjudicación en pago) is, what a "deed in lieu of foreclosure" (dación en pago) means, or how a "preventive attachment" (embargo preventivo) works.
This guide is designed to help you understand the key concepts you need to know to navigate the auction process with confidence and make informed decisions. Each entry gives the English term followed by the original Spanish term in brackets, as that is the wording you will find on the BOE auction portal.
A
Provisional Award Record (Acta de Adjudicación Provisional)
Document identifying the provisional winner of an auction before the process or full payment has been completed.
Award Record (Acta de Adjudicación)
Official document confirming the sale of the asset to the winner of the auction.
Enforcement Record (Acta de Apremio)
Document certifying the seizure of a debtor's assets and authorising their sale at auction.
Certified Statement of Facts (Acta de Constatación)
Detailed report on the condition of a property, drawn up by a court official or a notary.
Bank-Owned Asset (Activo Bancario)
Properties owned by banks, usually acquired following mortgage defaults.
Insolvency Estate Asset (Activo Concursal)
Assets and rights forming part of the estate of a company or individual in insolvency proceedings.
Judicial Communications (Actos de Comunicación Judicial)
Official notices from the court to the parties involved in legal proceedings.
Out-of-Court Payment Agreement (Acuerdo Extrajudicial de Pagos)
Procedure allowing a debtor to negotiate with their creditors in order to avoid insolvency proceedings.
Ad Corpus Sale (Ad-corpus)
Sale of a property as a whole, regardless of the exact measurement of its floor area.
Direct Award (Adjudicación Directa)
Allocation of the asset to an interested party without the need for an auction.
Award in Payment (Adjudicación en Pago)
Transfer of an asset to settle a debt, similar to a deed in lieu (dación en pago).
Award (Adjudicación)
Act of granting the auctioned asset to the highest bidder.
Alienation (Alienación)
Act of selling or transferring ownership of an asset to another person.
Cautionary Entry (Anotación Preventiva)
Temporary entry in the Land Registry (Registro de la Propiedad) reflecting a transitional legal situation.
Direct Sale Notice (Anuncio de Venta Directa)
Official publication giving notice of the sale of an asset without an auction.
Auction Appeal (Apelación en Subasta)
Appeal against court decisions relating to the auction process.
Appeal (Apelación)
Application for a higher court to review the decision of a lower court.
Earnest Money Deposit (Arras)
Sum paid as a guarantee in the purchase of real estate.
Award Order (Auto de Adjudicación)
Court order assigning the auctioned asset to the highest bidder.
Maximum Amount Order (Auto de Cuantía Máxima)
Court order capping the maximum amount that may be seized.
Appraisal (Avalúo)
Official valuation or appraisal of a property.
B
Exempt Asset (Bien Inembargable)
Asset protected by law against seizure, such as the minimum wage.
Asset Earmarked for Seizure (Bien Traba)
Asset identified and designated for seizure.
Immovable Property by Attachment (Bienes Inmuebles por Incorporación)
Items permanently fixed to a property, such as a prefabricated house anchored to the ground.
Immovable Property by Nature (Bienes Inmuebles por Naturaleza)
Assets regarded as immovable by their very nature, such as land and buildings.
Ownerless Property (Bienes Mostrencos)
Assets with no known owner that may be appropriated by the State or the local council.
Movable and Immovable Property (Bienes Muebles e Inmuebles)
Classification of assets: movable property can be moved, immovable property cannot.
C
Lapse of the Seizure Entry (Caducidad de la Anotación de Embargo)
End of the seizure's effect because enforcement was not carried out within the set period.
Cancellation of Charges (Cancelación de Cargas)
Procedure to remove the charges on a property after its sale or settlement.
Cancellation of Entry (Cancelación de Inscripción)
Removal of an entry from the Land Registry.
Preferential Charge (Carga Preferente)
Obligations with priority of payment against the property.
Prior and Preferential Charges (Cargas Anteriores y Preferentes)
Obligations registered before others and with priority of payment.
Hidden Charges (Cargas Ocultas)
Charges that legally exist but do not appear in the registry or in the property's documentation.
Subsequent Charges (Cargas Posteriores)
Obligations registered after others, without priority of payment.
Charges (Cargas)
Debts, encumbrances or restrictions on the auctioned property.
Cadastre (Catastro)
Administrative register describing real estate.
Notice of Service (Cédula de Notificación)
Document used to officially communicate steps in court proceedings.
Certificate of Charges (Certificación de Cargas)
Document certifying the charges on a property.
Certificate of Title and Charges (Certificación de Dominio y Cargas)
Document certifying the ownership of, and charges on, a property.
Assignment of the Winning Bid (Cesión de Remate)
Act of assigning the right to the award to another person after winning the auction.
Auction Close (Cierre de la Subasta)
The point at which the period for submitting bids ends.
Registry Closure (Cierre Registral)
Temporary suspension of entries in the Land Registry.
Penalty Clause (Cláusula Penal)
Provision setting compensation payable for breach.
Rebus Sic Stantibus Clause (Cláusula Rebus Sic Stantibus)
Principle allowing contracts to be revised in the event of an extraordinary change in circumstances.
Mortgage Floor Clause (Cláusula Suelo)
Provision setting a minimum interest rate on mortgage loans.
Award Commission (Comisión de Adjudicación)
Percentage of the price charged by the auction administrator or manager.
Insolvency Proceedings (Concurso de Acreedores)
Legal procedure for liquidating a debtor's assets and paying their creditors.
Involuntary Insolvency (Concurso Necesario)
Insolvency proceedings initiated by creditors because of the debtor's insolvency.
Condition Subsequent (Condición Resolutoria)
Condition that terminates the effects of a contract if a specific event occurs.
Conflict of Interest (Conflicto de Intereses)
Situation in which auction staff have personal interests that affect their objectivity.
Payment into Court (Consignación)
Deposit of money with the court or a designated body in order to meet an obligation.
Claim against the Estate (Crédito contra la Masa)
Claim arising after insolvency has been declared, which has priority of payment.
Preferential Claim (Crédito Privilegiado)
Claim with priority of payment, such as those secured by a mortgage.
Sale as a Specific Unit (Cuerpo Cierto)
Sale of a property considered individually, regardless of its exact measurements.
D
Deed in Lieu of Foreclosure (Dación en Pago)
Transfer of an asset to extinguish a debt secured on that same asset.
Declaration of Heirs (Declaración de Herederos)
Act designating the legal successors of a deceased person.
Mortgage Enforcement Claim (Demanda de Ejecución Hipotecaria)
Legal claim to demand payment of a mortgage debt.
Counterclaim (Demanda Reconvencional)
Claim brought by a defendant against the claimant in the same proceedings.
Deposit (Depósito)
Amount that must be lodged in order to take part in an auction.
Right to Improve a Bid (Derecho de Mejora)
Option for a bidder to increase their offer within a set period.
Right of Redemption (Derecho de Redención)
Opportunity to recover a property that has been sold, cancelling the sale under certain conditions.
Statutory Right of Repurchase (Derecho de Retracto Legal)
Legal right to recover an asset that has been sold, subject to certain conditions and time limits.
Surface Right (Derecho de Superficie)
Right to build or plant on someone else's land for a fixed period.
Right of First Refusal (Derecho de Tanteo)
Preferential right to buy an asset on the same terms offered to a third party.
Eviction (Desahucio)
Court procedure to recover possession of a rented property.
Release from Seizure (Desembargo)
Lifting of the seizure on a debtor's assets.
Boundary Demarcation (Deslinde)
Procedure for determining the boundaries between adjoining properties.
Undue Delays (Dilaciones Indebidas)
Unjustified delays in court proceedings.
Procedural Order (Diligencia de Ordenación)
Decision by a court clerk to prepare a procedure.
Horizontal Division (División Horizontal)
Legal process for dividing a building into independent properties.
Full Ownership (Dominio Pleno)
Complete ownership of an asset, with all its rights and responsibilities.
E
Court Clerk (El LAJ, Letrado de la Administración de Justicia)
Legal professional who works alongside judges and holds the court's authority to certify proceedings (fe pública judicial).
Notice of Auction Call (Edicto de Convocatoria)
Official publication announcing an auction and inviting interested parties.
Auction Notice (Edicto de Subasta)
Official document announcing the auction and its conditions.
Public Notice (Edicto)
Official publication of judicial auctions and other procedural steps.
Real Subrogation Effect (Efecto de Subrogación Real)
Situation in which a third party pays off a mortgage debt and acquires the creditor's rights.
Enforcement of Judgment (Ejecución de Sentencia)
Stage at which the terms of a final court decision are carried out.
Seizure of Real Estate (Embargo de Bienes Inmuebles)
Legal attachment of a property to secure payment of a debt.
Garnishment of Receivables (Embargo de Créditos)
Measure affecting the amounts a third party owes to the judgment debtor.
Seizure of Movable Goods (Embargo Prendario)
Seizure of movable assets in the debtor's possession.
Preventive Attachment (Embargo Preventivo)
Interim measure that holds the debtor's assets to secure future recovery of the debt.
Seizure (Embargo)
Legal attachment of an asset to secure payment of a debt.
Mortgage Deed (Escritura de Constitución de Hipoteca)
Notarial document formalising a mortgage over a property.
Public Deed (Escritura Pública)
Document executed before a notary that gives authenticity to acts or contracts.
Third-Party Beneficiary Stipulation (Estipulación a Favor de Tercero)
Agreement conferring a benefit on someone who is not a party to the contract.
Exequatur (Exequátur)
Procedure for recognising and enforcing a foreign court decision.
Title Proceedings (Expediente de Dominio)
Procedure for registering, or restoring the registration of, properties in the Registry.
Dissolution of Co-ownership (Extinción de Condominio)
Ending of joint ownership of a property.
F
Liquidation Phase (Fase de Liquidación)
Stage of insolvency proceedings in which the debtor's assets are liquidated.
Possession Phase (Fase de Posesión)
Stage in which the successful bidder obtains actual possession of the property.
Security Bond (Fianza)
Financial guarantee to secure fulfilment of an obligation.
Finality of the Award Order (Firmeza del Auto de Adjudicación)
The point at which the award can no longer be appealed.
Working Capital (Fondo de Maniobra)
A company's liquid financial resources, relevant in insolvency auctions.
H
Reverse Mortgage (Hipoteca Inversa)
Mortgage loan for older people that converts the value of their home into cash.
Tacit Statutory Mortgage (Hipoteca Legal Tácita)
Implied security benefiting certain creditors, such as employees in respect of their wages.
Chattel Mortgage (Hipoteca Mobiliaria)
Security similar to a property mortgage, but over movable assets.
Mortgage (Hipoteca)
Right encumbering real estate to secure payment of a debt.
I
Challenge to the Auction (Impugnación de la Subasta)
Legal action to question the validity or the procedure of an auction.
Undivided Ownership (Indivisión)
Situation in which several owners share an asset without physically dividing it.
Valuation Report (Informe de Tasación)
Document estimating the value of a property.
First Registration (Inmatriculación)
First entry of a property in the Land Registry.
Immovable by Purpose (Inmueble por Destino)
Movable assets regarded as immovable because of their relationship with a property.
Registration of Cancellation of Charges (Inscripción de Cancelación de Cargas)
Act that removes the registered charges on a property.
Registration of Claim (Inscripción de Demanda)
Entry recording a claim that could affect the legal status of a property.
Registration of Title (Inscripción de Dominio)
Entry recording the ownership of a property.
Registration of the Award (Inscripción de la Adjudicación)
Recording of the award of the property to the winner of the auction.
Registry Entry (Inscripción Registral)
Recording of legal acts concerning a property in the Registry.
Possessory Action (Interdicto)
Procedure to protect possession of a property.
Judicial Oversight (Intervención Judicial)
A judge's involvement in the auction to ensure its legality.
J
Creditors' Meeting (Junta de Acreedores)
Meeting of creditors to decide on the liquidation of assets in insolvency proceedings.
Fee Recovery Procedure (Jura de Cuentas)
Procedure to approve the expenses and fees of a professional in a court case.
Fair Valuation (Justiprecio)
Official valuation of an asset for expropriation or tax purposes.
L
Tax Agency Auction Board (La Mesa de Subastas de Hacienda)
Body that manages auctions of assets seized by the Agencia Tributaria (Spanish Tax Agency).
Lifting of the Seizure (Levantamiento del Embargo)
Act of cancelling the seizure on an asset.
Civil Procedure Act (Ley de Enjuiciamiento Civil)
Legislation governing civil court proceedings in Spain.
Mortgage Act (Ley Hipotecaria)
Legislation governing rights in rem over real estate.
First Occupancy Licence (Licencia de Primera Ocupación)
Permit to use a newly built or refurbished building.
Bidder (Licitador)
Person who takes part in the auction by placing bids.
Settlement of Charges (Liquidación de Cargas)
Process of paying off and cancelling the charges on the auctioned property.
Joinder of Parties (Litisconsorcio)
Joining of several people in the same court proceedings, as claimants or defendants.
Lis Pendens (Litispendencia)
Situation that arises when court proceedings are under way concerning an asset or right.
Lot (Lote)
Individual unit put up for auction; it may be a single property or a group of them.
M
Cancellation Order (Mandamiento de Cancelación)
Court order to cancel entries or annotations in the Land Registry.
Insolvency Estate (Masa Activa)
All of the debtor's assets and rights subject to liquidation in insolvency proceedings.
Highest Bidder (Mejor Postor)
Person who offers the highest price at an auction.
Bid Above the Reserve (Mejora del Tipo)
Bid that exceeds the minimum price set for the auction.
Timeshare (Multipropiedad)
Arrangement in which several people share ownership of a property, each with the right to use it during specific periods.
N
Marginal Note (Nota Marginal)
Annotation in the margin of registry entries indicating a special circumstance.
Land Registry Extract (Nota Simple)
Land Registry document providing information on the legal status of a property.
Service by Public Notice (Notificación Edictal)
Notification through official publications when personal service is not possible.
NPL (Non-Performing Loan)
Unpaid mortgage-backed loans that may be put up for auction.
Bare Ownership (Nuda Propiedad)
Ownership of an asset from which the usufruct has been separated.
O
New Construction (Obra Nueva)
Building work carried out on land or on an existing structure, increasing its value.
Unlawful Occupation (Ocupación Ilegal)
Situation in which someone occupies a property without being its owner or having any right to do so.
Occupants (Ocupantes)
People living in the auctioned property, whether or not they are lawful tenants.
Sealed Bid (Oferta en Sobre Cerrado)
Bidding method in which offers are submitted in sealed envelopes.
P
Seizable Assets (Patrimonio Embargable)
All of a person's assets and rights that can be seized.
Terms and Conditions of Sale (Pliego de Condiciones)
Document setting out the rules and conditions of an auction.
Municipal Capital Gains Tax (Plusvalía Municipal)
Tax on the increase in value of urban land.
Power of Attorney for Litigation (Poder para Pleitos)
Authorisation for someone to act on another person's behalf in court proceedings.
BOE Auction Portal (Portal de Subastas)
Official platform of the Boletín Oficial del Estado (Spain's Official State Gazette) for publishing judicial auctions.
Interim Possession (Posesión Interina)
Temporary right to occupy a property before the legal process has been completed.
Minimum Acceptable Bid (Postura Legal)
Minimum offer required to take part in an auction.
Preliminary Notice of Claim (Preanotación de Demanda)
Entry in the Land Registry regarding a claim that could affect a property.
Priority of Claims (Preferencia de Crédito)
Order of priority for paying claims in the event of the debtor's insolvency.
Non-Possessory Pledge (Prenda sin Desplazamiento)
Security over a movable asset without physically handing it over to the creditor.
Payment Order Procedure (Proceso Monitorio)
Fast-track court procedure for recovering money debts.
Undivided Co-ownership (Proindiviso)
Situation in which an asset belongs to several people without being physically divided.
Public Nature of the Registry (Publicidad Registral)
Principle under which Land Registry entries are considered public.
Bid (Puja)
Monetary offer made by an interested party at an auction.
Q
Bankruptcy (Quiebra)
Legal state of insolvency of an individual or a legal entity.
R
Reduction of the Reserve Price (Rebaja del Tipo)
Reduction of the auction's base price in certain circumstances.
Application for Reconsideration (Recurso de Reposición)
Appeal lodged with the same body that issued a decision, asking it to reconsider.
Capital Reduction (Reducción de Capital)
Decrease in a company's share capital, which may affect the value of its properties.
Procedural Reforms (Reformas Procesales)
Changes to the rules governing court proceedings.
Separate Property Regime (Régimen de Separación de Bienes)
Matrimonial property regime in which each spouse retains independent ownership and management of their own assets.
Land Registry (Registro de la Propiedad)
Public institution that records rights over real estate.
Reimbursement for Improvements (Reintegro de Mejoras)
Obligation to compensate a good-faith possessor for investments made in the property.
Judicial Auction Sale (Remate Judicial)
Process of compulsory sale of an asset at a public judicial auction.
Winning Bid (Remate)
Final accepted bid at an auction, resulting in the award of the asset.
Debt Forgiveness (Remisión de Deuda)
Voluntary waiver of a debt by the creditor.
Replacement of Title Deeds (Reposición de Títulos)
Process for obtaining a new title deed if the original is lost or destroyed.
Retention of Title (Reserva de Dominio)
Clause reserving ownership to the seller until the price has been paid in full.
Statutory Right of Redemption (Retracto Legal)
Legal right of certain persons to recover an asset that has been sold by reimbursing the buyer the price paid.
Right of Pre-emption (Retracto)
Right of certain interested parties to acquire the auctioned asset on the same terms as the highest bidder.
Revocation (Revocación)
Annulment of a judicial or administrative decision.
S
Legal Certainty in Property Transactions (Seguridad del Tráfico Jurídico Inmobiliario)
Measures to ensure the transparency and reliability of property transactions.
Preventive Legal Certainty (Seguridad Jurídica Preventiva)
Measures to protect the rights of the parties in an auction.
Easement (Servidumbre)
Burden imposed on one property for the benefit of another property with a different owner.
Surplus (Sobrante)
Money left over after all debts and costs have been covered in an auction.
Stay of Enforcement (Sobreseimiento de la Ejecución)
Suspension or termination of enforcement proceedings on legal grounds.
Dismissal (Sobreseimiento)
Court decision that ends proceedings without ruling on the merits.
Voluntary Insolvency Petition (Solicitud de Concurso Voluntario)
Application by an insolvent debtor to open insolvency proceedings.
Judicial Auction Request (Solicitud de Subasta Judicial)
Formal request to start an auction of a seized asset.
Void Auction (Subasta Desierta)
Situation in which no valid bids are submitted at an auction.
Online Auction (Subasta Electrónica)
Auction held via digital platforms or the internet.
Judicial Auction (Subasta Judicial)
Legal process for selling an asset seized by court order.
T
Contradictory Expert Valuation (Tasación Pericial Contradictoria)
Valuation carried out by an expert to contest a previous valuation.
Third-Party Ownership Claim (Tercería de Dominio)
Procedure in which a third party claims to be the owner of a seized asset.
Third-Party Priority Claim (Tercería de Mejor Derecho)
Claim by a third party asserting a preferential right over the auctioned asset.
Certified Court Copy (Testimonio Judicial)
Document issued by a court clerk setting out the facts of a procedural act.
Starting Price (Tipo de Salida)
Minimum price set to open an auction.
Registered Ownership (Titularidad Registral)
Status of being registered as the owner of a property in the Land Registry.
Enforceable Title (Título Ejecutivo)
Document allowing compulsory enforcement proceedings to be started.
Chain of Title (Tracto Sucesivo)
Principle under which Land Registry entries must follow an unbroken sequence.
Bid Increment (Tramo entre Pujas)
Mandatory minimum increase between bids in an auction.
Assignment of Debt (Transmisión de Crédito)
Transaction by which a creditor's claim is transferred to another person.
U
Adverse Possession (Usucapión)
Means of acquiring ownership of assets through continuous possession for the period set by law.
Life Usufruct (Usufructo Vitalicio)
Right to use and enjoy another person's asset for the whole of the usufructuary's life.
Usufruct (Usufructo)
Temporary right to use and enjoy another person's assets, including earning income from them.
V
Auction Valuation (Valor de Tasación para Subasta)
Value assigned to a property as a reference for the auction.
Appraised Value (Valor de Tasación)
Official estimate of a property's value, used to set the starting price at an auction.
Direct Sale (Venta Directa)
Sale of assets linked to defaulted loans or insolvency proceedings without going through an auction.
Compulsory Sale (Venta Forzosa)
Sale resulting from a judicial or administrative procedure, against the owner's will.
Latent Defect (Vicio Oculto)
Non-apparent defect in a property that may justify rescinding the sale or reducing the price.
Main Residence (Vivienda Habitual)
Home in which a person lives regularly and permanently.
Right to Inherit (Vocación Hereditaria)
A person's right to succeed to another's estate, by will or by law.