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...
The Committee on Legal Affairs of the European Parliament has recently adopted the proposal for the regulation on legal issues in relation to Inheritance Law in the European area and creation of a European certificate of inheritance, whose purpose is to facilitate the process concerning...
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...
The Spanish Supreme Court’s judgement recently published is bringing a somehow renewed and fresh approach in this matter and is based on the idea that the consumer’s defence on a house’s purchase is performed through a set of legal rules not only previous but also...
No you cannot, since the law protects any actual occupant of a real estate property even if the legal validity of the occupation is finishing or in dispute. The same rule applies to cases where the tenancy’s term is clearly over but the tenant has...
Yes, you can. Private contracts, as opposed to public contracts (the ones signed in front of Notaries) also have validity and completion force in what refers to any permissible condition they include and are perfectly binding for you and your seller. However, according to the Spanish...
(Google translation from Noticias Vlex.com) The Congress of Deputies validated by a majority a number of fiscal stimulus initiatives aimed at the home rehabilitation sector that were included in the Royal Decree on Measures to Promote Economic Recovery and Employment, approved on Friday April 9 by...
The transfer tax, or Impuesto de Transmisiones Patrimoniales (ITP), applicable to private real estate property sales, is for the time being in Andalucía a 7% of the value declared in the contract for private sales. However, as from March 19th, 2010 the tax has been...