It stands to reason that if nobody is buying, selling or building properties, public notaries are not taking much in the fees area, are they.
Non Residents in Spain owning a property in Spain are like in most countries subject to taxes. In most cases the taxes related to a property that a non-resident will have to pay are less than what a resident would pay. Here is brief outline of what non-residents are expected to pay.
They are innocent people who have bought their Spanish property in good faith, with all the correct documentation, having invested their life savings into their dream homes. Most of them are elderly.
It’s not uncommon that after purchasing a property, a new buyer finds concealed defects that seriously affect the value or the usage of the property. For example this could be a leaking swimming pool or more serious, a structural problem which compromises the stability of the building.
On March 14th 2013, the Luxembourg Court of Justice of the European Union ruled against the present Spanish mortgage laws and will force Spain to adapt the present legislation governing evictions and foreclosures to EU directives.
Two men have been sentenced to 1-year’s imprisonment for selling a property that was simply not theirs to sell.
In Spain the relationship between the insurance company and the insured is regulated by Law 8/1980 of the 8th October on insurance contracts.
When purchasing house insurance, there are several concepts that the buyer needs to keep in mind before choosing the most appropriate policy.
Part of Swedbank Fastighetsbyrån, Sweden’s largest real estate chain, The Real Estate Agency has had two successful years in Spain with steady growth.
On 1st January 2012 the Junta de Andalucía introduced several changes on how taxes under the jurisdiction of the autonomous region will be calculated.
More specifically transfer tax and stamp duty (in Spanish “Impuesto sobre Transmisiones Patrimoniales y Actos Jurídicos Documentados”) have been overall increased. Transfer tax and Stamp duty are regulated by the Royal decree 1/1993 of the 24th of September and enforced with the Royal decree 828/1995 of the 29th of May.
Last September the Spanish government passed a new decree related to a temporary patrimonial tax for the fiscal year 2011/2012. Law 13/2011 of the 16th September was justified by the economical crisis and the need for the government to compensate the increasing deficit. According to the law this tax will be temporary and will apply to the fiscal year 2011/2012 and will have to be paid in the tax declaration of 2012/2013.