The Real Estate Lease-Purchase Contract in Spain
The real estate lease-purchase contract allows the rental of a property for a specific period and grants the tenant the right to buy it at a pre-determined price at the end of said period.
Real estate law governs property transactions of immovable goods and rights that exist over them: sale of properties and real estate companies, leasing, etc. Construction law governs construction, regional planning and land use and it also governs the powers and obligations of land owners.
Legal Framekwork of the SOCIMI in Spain
In order to boost the real estate market in Spain, the figure of the SOCIMI (real estate investment company) emerged in 2009. These are listed companies that principally carry out the acquisition, promotion, and restoration of leasehold urban assets.
Moratorium on renting commercial premises in Spain, the RDL 15/2020
We analyse the requirements to apply the moratorium on the payment of rent on commercial premises, according to the provisions of RDL 15/2020 in the context of the State of Alarm decreed in Spain.
Responsibility of the construction agents to the landowners and the users
Article 17.1 in the Law of Construction Planning, “Responsibilities and guarantees,” regulates the civil responsibility of the agents involved in the construction process as well as the deadlines for dealing with them.
Construction Developer’s Duties and Responsibilities in Spain
The figure of the construction developer was not defined uniformly in Spanish legislation until the entry into force of the LOE. Article 9 establishes that a construction developer is understood as a promoter and what his obligations are, while Article 17 determines his civil liability regime.
Building agents in Spain: definition and types
The Building Regulation Act (BRA) in Spain establishes in article 8 that all people involved in a building process are to be considered building agents. It is worth considering who is classified under this condition as well as the different types of building agents in Spain.
Fees and taxes for real estate acquisitions in Spain
Acquisition of real estate in Spain can generate various fees for which, without careful preparation, the buyer can quickly find himself liable. Furthermore, the transaction can accrue taxes, which can be quite different for the buyer and the seller.
Financing the acquisition of real estate in Spain
In Spain, banks usually finance real estate acquisitions through mortgages as well as other services. Borrowers run the risk of finding the liability for fees incurred by the appraisal of the property, notarisation of the mortgage and entry into the land registry shifted onto them.
Seeking and acquiring real estate in Spain
Seeking real estate in Spain can be done by internet, with the help of a real estate consultant or through an agent. Care should be taken if using an agent, as well as in signing a contract, because agents generate fees and only notarisation can ensure acquisition in good faith.
The forward purchase contract VS the forward funding contract in Spain
Forward purchase and forward funding contracts are particular kinds of contracts that perfectly meet the characteristics of a sales contract of a future good. These are two types of bilateral sales contracts of a future building concluded between an owner builder seller and an investor buyer. These contracts are often used in large real estate transactions.