The Spanish Supreme Court has recently said that YOU DO, since reception by the City Council does not mean the assumption of ownership of common services which continue to be shared ownership. And that is when: 1.- The plot or housing of the owners concerned is located...
In the task of buying a property in Spain the lawyer is your most important team member. It is sensible to ensure that they are on your side and have no financial connection with the estate agent or developer. This can be easier said...
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...
The Spanish Council of Ministers has recently approved a Bill to boost the housing rental market in Spain through measures aimed to increase its flexibility, reduce the time limits for the duration of the renting terms, and improve the legal certainty. It also introduces a...
Economic earnings arisen on the occasion of the transmission of urban properties acquired (for a price) from May 5th, 2012 and until Dec 31, 2012 are declared 50% exempt in income tax. This exemption is not applicable when the property has been acquired or transmitted...
Capital gains obtained as a result of selling a property are subject to tax. This income shall be deemed to be accrued when the property is transferred. In general, net gains shall be calculated based on the difference between the cost price and transmission value of...
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...
This is an useful guide published by the Spanish Property Registrars Association worth reading by every non-resident English speaking investor. You will note however that even if this guide clearly explains the basic steps needed and even though going through these seems to be presented as...
Practically the whole financial sector will be 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...
Form January 1st , those contributors who have a yearly income (taxable base) exceeding 24.107,20 €, will no longer enjoy the current tax deductions that were applicable to residents in Spain in cases of purchase of habitual housing or rehabilitation of those who are disabled....