In certain cases the answer is YES, the Real Estate Agency may end up responding and having to pay the installments or the principal of the Mortgage or the damages in case of foreclosure of the mortgage for that omission of information. This, has been stated...
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...
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...
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...
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...
On July 01-2011 the Spanish Cabinet enacted an executive Decree containing several measures aimed to protect individual home owners against wild bank repossessions. The most important measures are: - Firstly, in order to lessen the harmful impact of the economy crisis on the citizens who are...
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...
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...
Spanish bank agent Bancaja Habitat is attracting foreign buyers to its repossessed property stock with 85% loan-to-value mortgages. Bancaja has sold around 40 units in the last three weeks to foreign and domestic buyers, who don’t have to start repaying the mortgage for three years. The reluctance...