The Directorate General for Legal Certainty and Public Faith establishes that the Registrar's power of qualification is limited to the formal legality of the title and the validity of the dispositive act (Art. 18 LH). The Registrar may not reinterpret a formally valid transaction nor substitute the notary's assessment of legality to allege a possible concealment of a legal transaction (Art. 18 LH). The resolution criticises the qualification of an option to purchase right as a forfeiture clause (pacto comisorio) without literal proof in the deed.
For individuals and option holders, legal certainty is reinforced against registry qualifications based on assumptions regarding the parties' intentions (Art. 18 LH). Registrars must adhere to the form and content of the document without examining the economic cause (Art. 18 LH). An unfounded refusal to register may lead to civil liability for the Registry (Art. 296 LH) and deprive the interested party of the protection of public registry faith (Arts. 32 and 34 LH).
The tax team reviews your specific situation.