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new regulation Tag

Costa Luz Lawyers > Posts tagged "new regulation"

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....

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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...

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The European Commission says the Supreme Court Sentence on IRPH violates Community legislation

The European Commission has recently issued a report on IRPH clauses in Spain, which leaves Spain’s Supreme Court in a compromising situation. The effects could be of similar proportions to the cancellation of the ground clauses of the mortgages, although we will still have to wait for the response of the Court of Justice of the European Union (CJEU) to a question submitted by a court in Barcelona. In November 2017, Spain’s Supreme Court ruled that mortgage contracts linked to the IRPH are not abusive because this index, being official, already offers guarantees of transparency. But now the legal section of...

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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,...

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