Is it true that money laundering controls have been tightened?
Yes, and the one that will most affect property buyers is the obligation to include the method of payment within the escritura. Previously, buyer and seller simply had to swear to the notary that the full purchase price had been paid and received. Now they have to state in the deeds how it has been paid and failure to do so will mean that the property cannot be registered in the new owner’s name.
