Real Estate Investment

02 Apr WHY YOU NEED A CADASTRAL CERTIFICATE TO BUY A SPANISH PROPERTY AND NOT JUST THE “NOTA SIMPLE”

The Cadastral Certification (Certificado Catastral) is an extract from the Land Registry (Oficina del Catastro). It is a report of the property’s physical characteristics. The measurements of the building are described and the borders of the plot.  There is also a description of such property in...

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20 Mar HAS THE INHERITANCE TAX BEEN ELIMINATED IN ANDALUSIA? YOU DON’T HAVE TO PAY ANYTHING?

The tax has not been eliminated and it continues in force. However, a reduction for close relatives from 1-1-2018 is applied, amounting to one million euros (1,000,000 euros), for inheritance or legacy acquisitions (mortis causa), including those of the beneficiaries of life insurance policies.  This...

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15 Jan My house in Spain was built about ten years ago and has serious construction defects, can I claim the builder? When and in what cases?

1) The responsibility of ten years obliges the builder, or any of the agents that intervened in the work (builder, architect, surveyor, contractor, etc.) and requires the necessary concurrence of two requirements, in such a way that the absence of one of them would impede...

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07 Sep How can I be sure that the value I sell my property for is not potentially subject to an under declaration claim From Spanish Hacienda?

The official valuations of property in Spain are perfectly predictable. There is even official websites like this one where for example, if you indicate your property’s cadastral value and your municipality, it will tell you what the official valuation is. Obviously every lawyer or estate agent...

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28 Jul I have a mortgage with bank for my company-owned house in Spain, can I get compensation for an unlawful “floor clause”

No, you cannot. As a Juridical person (i.e. a Mercantile Company) your company does not have the profile of a consumer according to the law. Consumers or users according to the law are the natural persons who act with a purpose outside their business, commercial...

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11 Jul What is a “cláusula suelo” anyhow and how illegal it is when it is included in a Loan contract

Practically the whole financial sector is subject to trial in front of  the judge in what refers to the controversial “ground clauses, or cláusulas suelo”, that prevented numerous mortgaged Spaniards or Spanish residents to benefit from the strong slope of the interest rates experienced from end of 2008. At...

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28 Oct What happens to the legacy of a Briton who dies being resident in Spain, without a will or with a will that does not establish that British law applies to it?

The inheritance shall be subject to the Spanish legal system, so that two-thirds of the inheritance will be attributed to his descendants, one of them necessarily divided between the sons/daughters equally and without any charge; and another with the possibility of being freely distributed by...

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04 Jun Q: My architect tells me that in Andalusia, I can build a house in the countryside in non-urban areas, just by asking for permission at the local Town Hall (Ayuntamiento). Is it true?

A: This is true, however be careful and be aware of the following particularities: The law of urban planning of Andalusia (LOUA) does not absolutely prohibit building on undeveloped land, but does establish certain limits to preserve the land adjoining or related to urban development. For this...

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