laws Tag

Costa Luz Lawyers > Posts tagged "laws"

Spanish Timeshare industry being punished by the Supreme Court

The Timeshare industry is being heavily punished by the Spanish Supreme Court as, in most of the cases; contracts were drafted against formal requirements of the Law. The Supreme Court is condemning Timeshare companies to refund clients a proportional part of all payments made by them. Being the proportion based on the number of years that the timeshare has been used over a period of 50 years.  The Supreme Court is also condemning related financial institutions to refund amounts jointly and severally with the Timeshare companies. CostaLuz Lawyers have so far  helped clients in these timeshare developments:  Diamond Resorts, Club Primavera,...

Continue reading

Touristic housing to be controlled by Communities of owners

The communities of owners will be able to prohibit by a majority of three fifths the establishment of tourist apartments in their building, against the rule of unanimity which has been required until now. The Secretary of State for Tourism, Isabel Oliver, announced on Monday the modification of two key laws on housing to regulate this phenomenon. Oliver highlighted the intention to "separate short-term rentals and rentals for tourist use", and to giving communities of owners the power to decide on their properties and "what can be allowed". For this purpose, the urban lease law and the horizontal property law will be modified....

Continue reading

On European Wills

On August 17 2015, a European Regulation on inheritance law came into force. This regulation, allows European citizens to choose for their inheritance to be regulated by either country of residence or country of nationality. Therefore if you are currently a Spanish resident, but you have a different nationality that will provide you with better conditions for your heirs, you can choose this by simply stating it in your will. This came into effect in 2015 along with the European Certificate of Succession (ECS). This document has been designed to make international probate procedures easier in Spain as it will be a...

Continue reading

Q&A on Tourism Rentals in Spain

The rules that as owner you have to follow to rent your property to tourists in Spain are a complete hieroglyph today. What is the law that regulates tourist rental? Currently, there are 43 different Tourism regulations in the Spanish national territory. The City Councils can also add requirements from the competences they have in planning matters. Can the Community of Owners prohibit tourist rental? The Community of owners does not have the power to limit the owner's rights, among which is to rent the property. They can regulate and enforce the statutes that regulate the use of common elements of the...

Continue reading

What a foreigner must know to buy a property in Spain

To buy a property is not an easy task, but if you know the steps to take, and get the right advice from the suitable person, you could obtain a big advance in this section and definetly a safe option to not to be wrong at the moment of buying a property The purchase of property abroad continues being a guideline at historical highs of property purchase by trimester of years before and has rised up to a 15% by international investors Each person who has decided to invest in property in this territory must know all alternatives and prices to avoid...

Continue reading

List of all abusive clauses that a mortgage may contain

Clause of limitation to the minimum interest rate (floor clause): It is usually located in the stipulation 3 bis with the denomination. "Límite a la variacióndeltipo de interés variable” It usually coexists with another upward limit (or ceiling). The abusiveness of the clause due to imbalance arises when there is a disproportion between the floor and the ceiling so that it is the Bank that is covered against the mortgagor. 87% of mortgage users were not informed by their bank of the inclusion of said clause Multi-currency clause: The Supreme Court, in its Judgment of November 15, 2017,...

Continue reading