How is Case Law evolving for actions against off-plan developer’s Banks?

Quite brilliantly!  More and more for the protection of buyers and the fair equilibrium of risks and guarantees in that field.  A very human centered approach.  Good for the Spanish Judges. The last relevant Sentences by Provincial Appeal Courts are those which negate the banks argument which was … [Read more...]

Closing down a company in Spain

If you have an inactive company in Spain and are looking to close it down, these are the steps: Partners agreement and Minutes of Dissolution 2. Notary deed of Dissolution and Liquidation 3. Settlement of accounts 4. Report to the Mercantile Registry 5. De-registering from the Tax … [Read more...]

Is the commission that banks charge for early repayment of mortgage debts legal?

Yes, it is legal, providing it respects maximum limits. It can of course be agreed that no commission is taken. Mortgages at variable rates signed before 04/27/2003: The maximum commission will be 1%, whether it is a cancellation per subrogation or not. Mortgages at variable rates signed … [Read more...]

Spain’s Supreme Courts keeps punishing illegal timeshare contracts

As mentioned in a previous post, Spain’s Supreme Court is continuing its clear and strong line regarding the illegal practices of Timeshare companies in Spain. September 2017 has been the month in which the Supreme Court has made it clear that timeshare rights sold under the form of Memberships … [Read more...]

Courts against Banks in Spanish illegal properties

Another great decision dated April 2017 by Alicante Provincial Appeal Court Section 9 in a case against CAIXABANK regarding solution to urban illegalities. Law 57/1968 is applied to a case of urban illegality where the buyer had been living in the house for 9 years with no habitation … [Read more...]

Spain Supreme Court clear and firm in null and void of timeshare contracts

2017 has been a very productive year for the Spanish Supreme Court in relation to Timeshare and Consumer Law. 22 Court decisions so far, which by applying Law 42/98 to timeshare agreements, have produced important statements such as: Law 42/98 established an obligatory legal form for the … [Read more...]

Anticipated maturity clause null in Spain mortgage loans

The Spanish Supreme Court in its decisions dated 23rd December 2015 and 18th February 2016 has ruled on the nullity of the clause on early maturity of mortgage loan which: (a) does not discriminate the class of default of the debtor, or (b) entitles the creditor to cancel the contract on default … [Read more...]

List of cases won by CostaLuz Lawyers/ De Castro in 2017 so far

List of cases won by CostaLuz Lawyers/ De Castro in 2017 so far. Contact us today if you bought off plan in any of these developments, a refund for you might be possible: BANK / INSURER PROMOTOR DEVELOPMENT SGR, BBVA, BANCO SABADELL HERRADA DEL TOLLO S.L. SANTA ANA DEL … [Read more...]

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...]

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