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Payment
The periodic payment made in order to pay off a loan and that consists partly of capital and partly of interest.

Pay Off
Once the agreed term has been reached and all the payments have been made, a mortgage can be considered as having been paid off. This involves registration charges, tax payments and recording in the register.

Potential Building Land
Land that can be built on once it has been classified as building land.

Purchase Agreement
The agreement between the purchaser and the vendor under the terms of which both parties enter into the purchase/sale process.

Promissory Note
Document in which the person issuing it recognises his/her obligation to meet the payment of a given amount within a fixed period of time.

P.G.O.U.
Town Development Plan.

Primary or Main Home
That which is used as the habitual dwelling of the tax payer. The expenses generated by the acquisition and financing thereof result in reductions in income tax.
It must be lived in within a year of the acquisition date and constantly occupied for three months, except in the event of reasons beyond the owner's control stipulated by the law, such as legal separation, professional transfer implying a change of address, etc.

Property Register
The public office at which everything that refers to the ownership of properties and all other rights related with them is recorded and filed.

Primary or Main Residence
That which is used as the habitual dwelling of the tax payer. The expenses generated by the acquisition and financing thereof result in reductions in income tax.
It must be lived in within a year of the acquisition date and constantly occupied for three months, except in the event of reasons beyond the owner's control stipulated by the law, such as legal separation, professional transfer implying a change of address, etc.