Caixabank must pay more than one million euros for failed off-plan ‘Jardines de Manilva’ property development in Estepona, Costa del Sol

In March 2017, the Court of First Instance No.4 in Estepona ordered Caixabank (previously Cajasol) to pay a group of British buyers the sum of 958,275.30€ plus the corresponding legal interest. The properties were not completed on time according to the Purchase Contracts which had been cancelled … [Read more...]

How can a non EU national start a company in Spain? Visa requisites

GENERAL REQUISITES Not be found irregularly on Spanish soil. Being over 18 years. Lack of criminal records in Spain and in the countries where he has resided in the last 5 years, for crimes foreseen in the Spanish legal system. Do not appear as objectionable in the territorial … [Read more...]

Avoid Spain inheritance Law after Brexit

UK National residing in Spain after Brexit: Do you want to avoid Spanish Inheritance Tax Law being applied to your inheritance? Use Brussels IV now A bit of history An EU Regulation passed in 2012 (650/2012, also known as Brussels IV) brought clarity to European cross-borders … [Read more...]

Barclays punished in Marbella off plan

Punishment to Barclays (now Caixabank) in Marbella in an off-plan development. Caixabank condemned to return more than €100,000 of interest in an off-plan development which was not finished on time, using Spanish Law 57/1968. The Fifth Section of the Provincial Court of Malaga, on a Court … [Read more...]

Claims on tax value of properties in Spain

Tax Value of Properties in Spain The Tax Value of a property is the value that the autonomous communities allocate to the real estate. Taxes are calculated on it at the moment a transmission is made. These values can be consulted in the different websites of each region, in some cases there is … [Read more...]

Stop negative equity in Spain

There are hundreds of buyers with negative equity in Spain as they were granted huge mortgages during the real estate/ financial boom for properties that have suffered a dramatic value loss along the last years. Once the bubble burst and many property buyers were over debiting, Spain Government … [Read more...]

Responsibility of the bank in urban unlawfulness

La Reserva de Marbella was one of the illegal developments that, nevertheless, was finished and “occupied" by its buyers. In these cases where the buyer signs a Notary sales deed for the purchase of a non-licensed house, he is placed in a legal "limbo" in which he can "occupy" his property - … [Read more...]

The Mortgage Price Reference Index (IRPH)

The majority of mortgages signed in Spain have Euribor, a European index that regulates the interest rate of loans between banks, as a reference to mark the price of mortgages. But there are other less known and less widespread methods such as the Mortgage Price Reference Index (IRPH). Between 10 … [Read more...]

A deposit contract can ruin your purchase

In many cases when clients come to us for conveyancing work, they have already signed the deposit contract. They have generally done it under the pressure of the agent or the seller. Bad start! Play your part in the negotiation (with the assistance of a good lawyer) in order to have … [Read more...]

Corvera Golf & Country Club – Bankruptcy procedure

LEY 57/1968 – RESPONSIBILITY OF THE FINANCIAL INSTITUTION – BANK OR INSURER On 16 December, the Mercantile Court Number One of Murcia declared, at the request of creditors represented by the Costaluz Lawyers & DeCastro legal teams, the insolvency and administration of Corvera Golf & … [Read more...]

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