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September 03, 2009 - Posted By (Admin) in (Law)
Change to Coastal Law in Spain means properties can be sold again
The 1988 Coastal Law had taken all beach property into public ownership ahead of demolition.
The Spanish Government has added a last minute amendment to the Ley de Costas, Coastal Law. The change comes as an attempt to lessen the barrage of criticism the law has received from Europe, following complaints from the British and German embassies.
The law is in fact not a new one, but is now 20 years old,...
October 06, 2009 - Posted By (Admin) in (Law)
The annual real estate tax on your spanish property must also be paid. This tax, based on your valor catastral, can vary widely from town to town for the same type of property because it is a municipal tax. This real estate tax is called the IBI, the Impuesto sobre Bienes Inmuebles. The tax is raised every year, in line with inflation. If you are a non-resident, the best solution for you is to have the tax directed debit in your spanish bank account. This is a standing order to the bank to pay the tax and you can include any other municipal charges as the rubbish collection tax. You obtain...
October 06, 2009 - Posted By (Admin) in (Law)
You go to see a Spanish lawyer and explain your wishes to him. In the case of death of one spouse, for example, you may wish to leave all possible assets directly to the other spouse, without any inheritance to the children. As a foreigner, you should be able to do this. Even if surviving children inherit their legal portion, it is not usually necessary for the house to be sold and the proceeds divided, for example. The surviving spouse continues to live in the house and administer it for the good of the children still at home. If the house is later sold, the children can then get their legal share...
August 14, 2009 - Posted By (Admin) in (Law)
You might be offered property already owned by an offshore company registered in one of the many tax havens around the world.
This means that the property is not registered in the name of the owner. It is registered in the name of a company located in Gibraltar or Panama or the Caiman Islands. The owner of the company owns the property.
These tax havens earn their name because they are legal jurisdictions where taxes on locally registered companies are nil or very small, and secrecy is assured from the owner`s own tax jurisdiction.
The advantages: When you sell your Spanish property, it is only the company ...
August 28, 2009 - Posted By (Admin) in (Law)
Costs involved in a property purchase in Spain will usually be less than 10 per cent of the purchase price , but can go higher in individual cases. (for instance when a mortgage is needed)
You have two taxes and two fees to pay on the transfer of your property. The two fees are for the notarisation of the deed and for its registry in the Property Registry. The two taxes are the transfer tax and a sort of capital gains tax on the increase in value of the land, usually called the Plus Valia Tax. This tax is a municipal tax. The Plusvalia is normally paid by the owner, but owner and buyer are free to make arrangements of who wil...
September 01, 2009 - Posted By (Admin) in (Law)
This is already the case for a longer while, to be exact from 2007, but lots of clients are still confused about this subject. In April of 2007, Spain ended the need for EU citizens to obtain a residence card. EU citizens now are issued a sheet of paper called a Certificado de Inscripción en el Registro Central de Extranjeros, a Certificate of Registration. The sheet also contains the EU citizen`s NIE, Numero de Identificación de Extranjero, which identifies him to the Spanish Tax Authorities. It is almost impossible to carry out any official or banking transaction without this number. All co...
September 10, 2009 - Posted By (Admin) in (Law)
If you already own a car with British or German registration and if you are a tourist in Spain, you can operate such a car for six months in a calendar year with no formalities beyond the presentation at the border of your driving licence, car registration and insurance certificate that is, if anyone bothers to stop you at the frontier.
You can keep your foreign-registered car in Spain permanently, but you will have to garage it for six months of each year as you can only drive it on Spanish roads for six months.
As Spain is now a member of the EU, the international insurance certificate, or s...
October 28, 2009 - Posted By (Admin) in (Law)
Legally, it is not absolutely necessary for you to make a Spanish will to dispose of your assets in spain. A Briton who owns property in Spain can bequeath his Spanish apartment in the same British Will he uses to dispose of his property in England, and his will can be probated in Spain. However, there are a number of steps which must ta...
May 21, 2010 - Posted By (Admin) in (Law)
The Plusvalia Tax is a tax set by the local authorities and based on the increase of the value of the land from the date the owner acquired the property to the time of the present sale. The local authorities determine the amount of plusvalía to be paid for each house purchase in Spain, depending on the area where the property is located. The market value or sales price of the property does not have an effect on the plusvalía tax. ...
May 20, 2010 - Posted By (Admin) in (Law)
1. General Information If you have bought an apartment or villa, which take part of a building complex, keep in mind that these will be subject to the Spanish Law of Horizontal Division (Ley de Propiedad Horizontal). This law is applicable whether you are resident or not. According to this law, every apartment or villa-owner has the co-property of the common elements of the building complex (stairs, lifts, façades, swimming pool, cleaning servi...
November 19, 2009 - Posted By (Admin) in (Law)
Finding out your community share before buying your property If you are going to buy a Spanish property, which takes part of a block, it is advisable to check at the Spanish Property Registry (Registro de la Propiedad) the physical description of your apartment and the building that is attached to, in this way you will find out your property size and what is your common-area share. The Spanish Property Registry may also provide you with the rules about the use of the common facilitie...
May 20, 2010 - Posted By (Admin) in (Law)
The Statutes and the internal rules of the community Most communities have a wide set of rules which governs the property owners rights and standards of behaviour expected from the persons who reside on the complex. The Statutes of the community may only be modified by unanimity vote of the community owners, both present in person and by proxy. If Statutes need changing, this pertains to the annual general meeting. The Statutes must set out the private share which corresponds to each owner. If any member of the community vi...
December 01, 2009 - Posted By (Admin) in (Law)
Every community owner can make repairs in their own property (flat, attached house…) under the following conditions: 1 Previous notice to the Community owners. 2 If the building general structure and façade was not modified. 3 Avoid causing any damages to the rights of other community owners. Article by iAbogado Servicios Jurídicos SL (Madrid, Spain). Visit www.iAbogado.com for more original content like this. Reprint permission granted...
