Excess capacity
Introduction
Excess space in a real estate appraisal refers to the existence of a surface area of land or building greater than that registered in the property registry.
To identify a property in the Property Registry, its surface measurement is used, among other characteristics. The surfaces that are usually described are those corresponding to the plot and the built surface in the event that there is a building. In the case of horizontal divisions, in which each home or apartment is an independent registered property, only the constructed surface of the home that makes up the independent registered property is described.
But there are times when the real surface area of the property exceeds that registered in the Property Registry. This excess may correspond either to the built surface, or to the land surface, or to both. In these cases, when an appraisal is carried out, the existence of the excess and how it affects the valuation is reported through precautions (observations, warnings or conditions).
Possible causes
Sometimes this excess space may simply be a material error in the measurement of the property, caused by the inaccuracy of the old measurement methods, leading to incorrect surfaces over the years; or other more compromised situations such as the attempt to alter the boundaries of the property in order to invade another neighboring property.
A common case is that of single-family homes in which the perimeter fence has invaded the plot of the adjacent home. In the field of rural properties, the situation of excess space is even more common since the imprecision in the boundaries is very frequent, which makes the identification process even more difficult.
Problem that generates excess space
One of the main problems derived from excess capacity is the lack of security in the identification of the property; That is to say, there is no certainty that the excess surface area actually belongs to the property or that it is, as mentioned above, an invasion of another neighboring property.
Furthermore, excess space is a problem in subsequent registrations of the property, as well as in the registrations of Declaration of New Construction and Horizontal Division.