Spanish Law, Finance Regulators and hedge funds business examined by European Commission

What is the EU deciding with regards to assignment of mortgage debts to hedge/vulture funds? On 20 April 2018, the European Commission announced the admission for processing of the complaint filed by a Law Firm in Spain on behalf of 12 holders of Spanish mortgages for non-application of European … [Read more...]

The Supreme Court in Spain changes its criteria in relation to consumer agreements

The Supreme Court in Spain has changed its criteria in relation to consumer agreements, provided that it is proven by the Bank that the client was able to know the economic and legal consequences of its acceptance. In a ground clause case in which bank and client reached an agreement in order to … [Read more...]

Off-plan property case won by CostaLuz Lawyers-DeCastro for a property in ‘Calas del Pinar’ from the developer Peinsa 97 SL

Case won by Costaluz Lawyers-DeCastro in Peinsa 97, SL development “Complejo residential Calas del Pinar”, Pulpí, Almeria. Banco Santander S.A, has been condemned to return to the claimant € 103,493.54 plus the legal interest ( 4%-5% annual) from the dates payments were made to Peinsa. The Bank … [Read more...]

Spain’s Supreme Court bringing questions before Europe on IRPH index

Last December 2017, the Supreme Court in Spain declared that material transparency control of the IRPH clause was not due as this was a legal index. The sentence, naturally, received harsh criticism and raised doubts about its compliance to the doctrine of the European Union regarding the control … [Read more...]

Brexit and Settled Status in Spain

Is there anything clear on status of expats after Brexit? The negotiators of the European Union and the UK government set out a jointly report that will be part of the Withdrawal Agreement in full detail. This was published on the TF50 website on the 8th of December 2017. Access to the document … [Read more...]

5 Questions on the effects of Brexit when buying, owning and selling property in Spain

Will I still have rights to buy and own a property in Spain? Of course yes, your acquisition rights will remain intact. Ownership rights as regulated in our Civil Code are the same regardless of nationality. Will I still have rights to rent it out? Again, of course, rental rights are … [Read more...]

Cláusula Suelo – ECJ Press Release – 21 December 2016

COURT OF JUSTICE OF THE EUROPEAN UNION - PRESS RELEASE No. 144/16 - Luxembourg, 21 Dec 2016 CLAUSULA SUELO - MORTGAGE FLOOR CLAUSES Spanish case-law placing a temporal limitation on the effects of the invalidity of ‘floor clauses’ included in mortgage loan contracts in Spain is incompatible … [Read more...]

Changes in communication of mortgage enforcements

The evolution of mortgage laws is subject to changes throughout history that show the matters legislator intended to insist on. It is assumed that the law reflects and protects social needs. First Mortgage Act of Spain was created in 1861 in order to attract foreign investment for state needs … [Read more...]

Discriminatory conditions in Spanish Tax on Inheritance

Spain tax on inheritance and gift is, in part, contrary to Community legislation according to 3rd of September Luxembourg European Court decision. Spanish current legislation on IHT requests  foreign residents to pay higher taxes than Spanish residents. European  Court considers there is "no … [Read more...]

New European definition of “misleading commercial practice”

The European Unfair Commercial Practices Directive  includes a new description for "Misleading Commercial Practice": A practice that on the one hand, contains false information or is induced to deceive the average consumer, and on the other hand, can cause the consumer to take a transactional … [Read more...]

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