contracts Tag

Costa Luz Lawyers > Posts tagged "contracts"

Timeshare Sentences by the Supreme Court in Spain

The last two Court Sentences of the Spanish Supreme Court on Timeshares are a compendium of the doctrine that the High Court has produced so far: 1. Timeshare Law applies to holiday club memberships as, the object that was transmitted in the contract, is  a right to use one or several properties during a determined or determinable period of time. 2. If the contract did not respect the form established by law, it is null and void. 3. The indefinite duration of these contracts makes it null and void and they can only be constituted for a maximum period of 50 years. 4. Any individual...

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Starting a business in Spain? Choosing between Limited and Autónomo

There are different economic, legal or images sake reasons in order to choose between one or other form of trading. You need to choose the legal form that best suits your needs. Disclaimer: In the case of a self-employed, the liability is unlimited while limited liability companies´ liability is limited to the capital. Thus, when a limited company goes bankrupt, only respond with his possessions, and never will with the properties of their owners. Financial requirements: A limited requires a minimum capital of € 3006.00. Taxes: Self-employed individual can obtain directly the benefits of their business and be taxed in the...

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Is your property being repossessed?

Read the below legal tips  by CostaLuz Lawyers: • Any notification to the debtor must have been practised by the courts after investigation of different possibilities. It is not enough if the Court just tries the foreign address in Spain which was mentioned on the deeds. • Action taken cannot be based on an illegal or abusive clause (floor clause, early expiry clause, debtors’ interests’ clause…) • Law has imposed Bank a minimum value (50% of auction value of the property) for the event of repossession by them after an auction with no bidders. If your debt is below that minimum     ...

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Help in foreclosure procedures

The Advocate General of the Court of Justice of the European Union (CJEU) has recently issued his expert conclusion on five questions referred by different Spanish Courts, the Supreme Court among others, in regards to early maturity clause contained in mortgage contracts. What is an early maturity clause? It is a clause by which Bank can claim the whole debt just after a minor default (one installment) by the mortgage debtor What did Spanish Courts ask the European Court? In an scenario where a foreclosure procedure was started after many unpaid mortgage installments BUT based on the existence of a clause on the mortgage...

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