contract Tag

20 Dec Can my bank seize and auction in Spain other assets in my name beyond the mortgaged property in case I stop paying?

Yes, the bank can do that. Generally speaking, mortgage-loan contracts for individuals signed with bank entities include the faculty for the bank being able to choose any of the debtor’s assets, present or future, at the time they recover the debt. Therefore, the bank can...

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06 Jul AIFOS’s owners acquitted by the Court

The Malaga’s provincial High Court has acquitted Jesús Ruiz and his wife Teresa Maldonado, the owners of the real estate developer company AIFOS, previously accused by the prosecution as perpetrators of crimes of fraud and criminal offence against consumer’s rights, for selling 16 to-be-developed apartments...

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26 May Can I force my Spanish bank to give me a complete and clear list of the terms and conditions to be applied to my mortgage rather than the longish and fuzzy “Escritura”?

Yes you can. In fact, banks are forced by law to provide to their clients such binding offer, listing clearly and unequivocally what are the basic terms of the Loan & mortgage with time enough in advance of the meeting at the Notary. for the...

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16 Mar My rental contract does not mention any tenant’s address other than the rented property. Where should I send him an official notice if I know he is not there?

The recently approved new Reform of the Law for Leases ( Ley 19/2009) has solved this old dilemma. It clearly indicates that in case the parties have not stated otherwise, the tenant’s address for official notices is the rented property. And this is so regardless...

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