Spain will shortly use 'blockchain' approach to register properties for Holiday Rentals There is a new service launched by The Association of Registrars of Spain (CRE) to register properties for holiday rentals. The structure of the service is based on a 'blockchain' approach and the actual platform is called REGTURI. With this new system, the [...]
This article looks at the latest update relating to the regularization of illegal properties in Andalucía The real estate boom together with the increasing price of a property in the years prior to the recession in coastal areas in Andalucía, gave rise to a high demand of properties in the countryside. A lot of them [...]
On Monday 17th June 2019, a new Mortgage Act (Law 5/2019 of 15th of March) came into force in Spain With the introduction of the new mortgage act, it has raised a few questions, this article aims to address most questions people may have in relation to the change. 1) To which mortgage loans is [...]
These are the latest changes introduced in the Urban Letting Act, 1994 by Royal Decree 7-2019 passed by the Spanish Cabinet which is pending ratification by the Parliament. LATEST CHANGES RE REGISTRATION OF THE RENTAL CONTRACT IN THE LAND REGISTRY. It is not longer required to register the contract in the Land Registry in order for [...]
Government moves fast to force Banks to pay mortgage tax after tax ruling A most unusual event has happened by the Government; a Royal decree has been passed after the Supreme Court said the client should pay the tax. The government has responded fast after the Supreme Court controversially ruled this month that customers must [...]
The acronym AFO – Asimilado Fuera de ordenación – has now become a part of the selling process for rural properties. But why has this come about? Well the AFO by means of an administrative certificate confirms the legal status of the property as officially recognised out of planning. This means that although the construction of the [...]
You have a house in an urbanisation, and your neighbour, to have more air and light, has decided to put in a window in the wall of their house, a short distance from your land ... Can they do that? How should you act as now your privacy is compromised? The window - By putting [...]
Do I Buy a Reformed Property or an Unreformed Property? You are looking for a second residence, and are torn between a property that needs renovation and another more expensive property but that is already renovated. Buying the Property - Well, if the total amount you are going to pay for both properties is the [...]
IMPORTANT UPDATE – ABUSIVE MORTGAGE CLAUSES A new court resolution has been issued this week relating to abusive clauses in a Deed of Mortgage. The resolution makes certain clauses included in the mortgage loan null and void as they are considered to be abusive for the borrower. The default clause; if you default on any [...]
Property Rental Subletting Contract Clause As you will have seen in the media, there have been many cases of tenants, who have been subletting their property they are renting to tourists. What! You say, but do you know what your tenants are doing? Sub letting. Lately there have been many cases of tenants who, after renting [...]