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  3. Law: Contract(s)

ESCRITURA DE OPCIÓN DE COMPRA

English translation: notarial (or) notarially-recorded purchase option

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:ESCRITURA DE OPCIÓN DE COMPRA
English translation:notarial (or) notarially-recorded purchase option
Entered by: Justin Peterson

07:59 Oct 10, 2019
Spanish to English translations [PRO]
Law/Patents - Law: Contract(s)
Spanish term or phrase: ESCRITURA DE OPCIÓN DE COMPRA
The escritura is, generally, of course, a DEED

But, in English, I see almost no examples of a Purchase Option "Deed", presumably due to differences in Spanish vs Anglo-Saxon legal systems.

Dilemma: this is registered with the authorities as an escritura; should the term most proximate to the Spanish concept be used, or the one that is most natural in English?
Justin Peterson
Spain
Local time: 23:41
notarial (or) notarially-recorded purchase option
Explanation:
An escritura really isn't a "deed", although "deed" has certainly been used to translate "escritura" thousands of times. The basic reason for objecting to this translation is that "deed" in no way conveys the fact that an "escritura" is a notarial instrument signed in the presence of a civil law notary, recorded in his "protocol", and that serves to provide a level of legal certainty with regard to the underlying transaction. None of this can be said of a common law "deed".

Loads of translators will object to this assertion and, in fact, legal translators may perhaps be divided into two groups: those who think "deed" is an acceptable translation for "escritura," and those who believe it is just not a close enough "functional equivalent." "Escritura" is everywhere; we are called upon to translate the term practically daily, so it would be great to have a simple four-letter word that for the concept that fits handily into a translation and really conveys its meaning. If "deed" is to be used, perhaps "notarial deed", or better, "notarially-recorded deed" would be preferable. If not, "notarial/notarially-certified/notarially-recorded instrument" are terms that "non-deeder" translators use.

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Note added at 7 days (2019-10-17 10:04:18 GMT) Post-grading
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Thanks for your kind words, Justin. I'm glad you found this answer useful.
Selected response from:

Rebecca Jowers
Spain
Local time: 23:41
Grading comment
As always, Rebecca's answer is thorough and based on a profound grasp of the legal systems in question. Impeccable.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +8notarial (or) notarially-recorded purchase option
Rebecca Jowers
3 +2(Land) Purchase Option Deed; (Oz) Call Option Deed
Adrian MM.
5Option to Buy Contract/Option to Purchase Agreement
marideoba
4call option deed
Shaun Murdock
4purchase option contract
Enrique Soria


Discussion entries: 3





  

Answers


52 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
call option deed


Explanation:
Hi,

An opción de compra is a call option, while an opción de compra is a put option.

Shaun

Shaun Murdock
United Kingdom
Local time: 22:41
Native speaker of: English
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58 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
(Land) Purchase Option Deed; (Oz) Call Option Deed


Explanation:
Instrument in AmE of course if not related to a 'deeded' purchase of land.

Call option deed does work Down Under in another Anglo-American (= 'Anglo-Saxon') Law country, not only for commodities and company shares, but for land.

Unusual in the UK for such an option to be contained in a deed, but could well be over unregistered land. In the case of registered land, the option to buy would be registered as an *estate contract* - in which event there would be no need for a paper Deed under Seal.



Example sentence(s):
  • Oz: The option deed must have annexed to it a complete and valid contract for sale and purchase of land (in addition to other technical documents).

    Reference: http://www.proz.com/personal-glossaries/entry/18271334-opci%...
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 278

Peer comments on this answer (and responses from the answerer)
agree  AllegroTrans: Well it's not the UK so nothing unusual, prcatically everything gets recorded by notaries in Spain, including what the parties ate for breakfast
3 hrs
  -> Indeed. It's a Spanish routine. I like Rebecca's notarial record if a physical doc. rather than an entry - except British (and Irish) expats in Spain, incl. my relatives, refer to their 'escritura' loosely as the conveyance.
agree  Francois Boye: call option deed
13 hrs
  -> Merci, gracias and thanks.
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
purchase option contract


Explanation:
saludos

Enrique Soria
Mexico
Local time: 15:41
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 14

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: It is effectively a contract but "escritura" doesn't mean contract
42 mins
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2 days 8 hrs   confidence: Answerer confidence 5/5
Option to Buy Contract/Option to Purchase Agreement


Explanation:
This the way I have translated this type of agreement in the past. Both are correct and the same transaction. Of course, you do not need to write "notarial", because is implicit.

Example sentence(s):
  • OPTION AGREEMENT. This Option Agreement is made on this the ___ day of , 20 , by and between ______ , hereinafter referred to as the SELLER and ______
  • A real estate option to purchase agreement also known as option to buy contract is a contract on a specific piece of real estate that allows the buyer the exclusive

    https://freelegalforms.uslegal.com/options/purchase-property/
    https://www.realestatesalesllc.com/real-estate/option-buy-contract-protects/
marideoba
Local time: 16:41
Works in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 22
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51 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +8
notarial (or) notarially-recorded purchase option


Explanation:
An escritura really isn't a "deed", although "deed" has certainly been used to translate "escritura" thousands of times. The basic reason for objecting to this translation is that "deed" in no way conveys the fact that an "escritura" is a notarial instrument signed in the presence of a civil law notary, recorded in his "protocol", and that serves to provide a level of legal certainty with regard to the underlying transaction. None of this can be said of a common law "deed".

Loads of translators will object to this assertion and, in fact, legal translators may perhaps be divided into two groups: those who think "deed" is an acceptable translation for "escritura," and those who believe it is just not a close enough "functional equivalent." "Escritura" is everywhere; we are called upon to translate the term practically daily, so it would be great to have a simple four-letter word that for the concept that fits handily into a translation and really conveys its meaning. If "deed" is to be used, perhaps "notarial deed", or better, "notarially-recorded deed" would be preferable. If not, "notarial/notarially-certified/notarially-recorded instrument" are terms that "non-deeder" translators use.

--------------------------------------------------
Note added at 7 days (2019-10-17 10:04:18 GMT) Post-grading
--------------------------------------------------

Thanks for your kind words, Justin. I'm glad you found this answer useful.

Rebecca Jowers
Spain
Local time: 23:41
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 806
Grading comment
As always, Rebecca's answer is thorough and based on a profound grasp of the legal systems in question. Impeccable.
Notes to answerer
Asker: A thorough and well-reasoned answer, as always. Hats off, Rebecca.


Peer comments on this answer (and responses from the answerer)
agree  Toni Castano: I am one of those "sinners" who has used "deed" many times as a translation of "escritura pública", you know, most of times for the sake of brevity, but your line of reasoning is solid, true and fully convincing. I shall leave it here.
29 mins
  -> Thanks, Toni. Maybe you will become a "non-deeder" too!
agree  Yvonne Gallagher: absolutely agree about overuse of "deed"
2 hrs
  -> Thanks, Yvonne
agree  Maria Garcia
2 hrs
  -> Thanks, María
agree  AllegroTrans
3 hrs
  -> Thanks, Allegro
agree  Andy Watkinson
4 hrs
  -> Thanks, Andy
agree  Manuel Aburto
8 hrs
  -> Gracias, Manuel
agree  Richard Cadena: Your explanation is the same explanation I got from my guru, Tom West, in a course that I took with him.
9 hrs
  -> Thanks, Richard. Tom is a good friend; we've exchanged translation ideas for many years, and we're on the same "wave length" on many aspects of legal terminology.
neutral  Adrian MM.: are you sure it's the (purported, may be non-existent) option and not the 'escritura' being regd. I've regd. these 'escrituras' at the Registro de Propiedad and Mercantil in Madrid and the 'asiento' shows up as the escritura.
6 days
agree  meminube
100 days
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