Must Land Titles Be Included in the Registry of Business Owners?
This short article discusses land titles in the context of the provisions of Article 104 of the Law on Corporations,specifically the text, The private limited company shall maintain company records in Registry Books, which will include the record of first ownership, the successive, voluntary, or compulsory transfers of the corporate holdings, and the constitution of rights in rem as well as the taxes arising from it.
Although the Spanish Civil Code does not strictly consider retention of title a right in rem, other doctrines have ruled on the question. For this reason, the Guarantee-Based Doctrine (which the Spanish Insolvency Law has also considered) defends the concept of retention of title expressed as a right in rem as a guarantee of payment of the fixed price. Considering this principal Doctrine and other leading case law, the retention of title as a right in rem and guarantee must be included in the Registry of Business Owners.
This article is not considered as legal advice