The sale of property under construction, an alternative to the crisis

Before the economic and financial crisis, the Spanish real estate and construction sectors constituted one of the pillars of the country’s economy and real estate promoters used to benefit from the support of national banks. Because of the crisis, the real estate market has sharply declined. Real estate promoters had to find alternative funding sources.

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The sales contract of a property under construction in Spain

A sales contract of a property under construction is similar to a sales contract of a future good. The future good is certainly an object that does not exist, but on whose existence the parties have already agreed upon. Consequently, the parties agree on the object of the contract, in this case the building to be constructed, on the price, the rules to calculate the price, the obligations, and the conditions regarding the transmission of the building once it has been constructed.

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The sale of properties under construction in Spain

Selling a property under construction consists in the conclusion of a sales contract related to a property that has not yet been constructed, but the parties have already agreed on its existence and hence on its creation as well as on its price. Therefore, the parties conclude a sales contract related to a future good which involves its own different characteristics.

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Abogados en España

Unfair Competition: The Violation of Trade Secrets in Spain

The violation of trade or industrial secrets is regulated under Article 13 of the Law on Unfair Competition and consists of acts of exploitation of confidential information for the benefit of one’s self or a third party. To find a violation of secrets, a number of requirements must be met.

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