Certificate of Habitation-Cedula de Habitabilidad-Licencia Segunda Ocupacion
Understanding the Certificate of Habitation (Cédula de Habitabilidad) in Spanish Real Estate: Andalucia and Valencia region The “Certificate of Habitation (Cédula de Habitabilidad)”, also known as the “License of Occupation“, is an essential document in the realm of Spanish real estate, particularly when it comes to the sale, purchase, and legal use of residential properties. […]
Termination of Co-Ownership, or Extinction of Condominium on Spanish properties
Termination of Co-Ownership in Spain: Extinction of Condominium The Extinction of Condominium (EC), also known as Termination of Co-Ownership, is a legal mechanism in Spain that allows one co-owner of an indivisible asset (typically a property) to acquire full ownership by compensating the remaining co-owners. This type of transaction is common in cases of […]
Spanish mortgage- Embargo, Spanish repossession
When there are monthly payments on arrears, usually, there the Spanish banks give 2 solutions to execute an unpaid mortgage: 1.- Public Auction – Embargo Once a determinate number of non-paid monthly mortgage payments occur, the bank sue the property in the Courts, and open a seizure process. In this moment, the costs of the […]
House insurance when renting in Spain
Is the house insurance obligatory? As difference with CAR INSURANCE, where insurance is OBLIGATORY, in respect of houses getting insurance is VOLUNTARY. Although “voluntary”, getting house insurance is highly recommendable, not only to cover eventual risks of robbery, inundation, fire (as the recent unfortunate case in Javea and Benitatxell- We make the best use of this report to […]
Rent with Option To Buy Contract (RTB)
Regarding the real estate residential market, that is, the purchase and sale of first/permanent residence, we were talking about the “latent demand” that exists in Spain with respect to those foreigners from other countries, who wish to come to Spain to live on permanent basis. A fact that has been constant for the last two […]
Property not sold- Who pays agent’s commission?
There is a popular misconception on the agent’s commissions on Spanish property sales. It is understood that agents collect their commissions only on completion, and when the sale has been successfully completed. But, what’s the real position of the agents by the Spanish laws? AN EXAMPLE: When the buyer pull out the sale without “reasonable […]
Expropriation of properties in Spain-Land’s Grab
Expropiation in Spain – Spanish property expropriation An expropriation is defined as “to take land without consent of the owner …”. It is hard to imagine an exercise of governmental authority that can have a more direct impact on an owner’s property rights than the taking of an owner’s land without the owner’s consent. As […]
Repossessed properties in Spain. Conveyance and practical aspects
TLACORP lawyers are experts in conveyance, and real estate, with wide experience in Spanish repossessions. This is an activity that we have developed during the recent years with high levels of efficacy and success to our clients. As you could see in this special section of repossessed properties, the decision to buy this kind of properties is adequate […]
Horizontal Divisions. Urbanisations in rustic land in Spain
Horizontal Division in Urbanizations means that the land where the different houses from the urbanization are placed belongs to all the owners “in common”. This Horizontal Division is a way used in urbanizations and buildings where the different owners own the 100 % from their houses and “in community” the land of the urbanization. So, the […]
Golden Visa for non EU citizens
Updated January 2021 Law 14/2013 in force in Spain from 2013 in Spain will authorize entry, stay and residence for foreigners Non-EU citizens with an investment in real estates, shares or deposits. The “Project of support for entrepreneurs and its internationalization” (Proyecto de Apoyo a Emprendedores y su Internacionalización” would amend the Immigration Law 4/2000 […]