Torcal Estates Fincas and Country property - Málaga, Spain

Fincas and Country property - Málaga Property

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News - May 2010

New changes to the law to affect all home owners

From the 7th May 2010 the law has changed in relation to the registration of properties onto the Property Register.

As many people will know, the Property Register is the public register for all properties in Spain – this is where your property should appear, your ownership is confirmed, a brief description is noted and it is also where any mortgages or charges will be logged.

This register is best known because it is where the “nota simple” will be issued and this is often found at the back of your escritura.

The nota simple is a hugely important document because it is the first thing a lawyer will ask to see if buying a home.

The change in the law relates to the registration of extra meters, a pool or any real addition to the built meters of the property. If, for example, you are trying to register a 10 year old extension of 20meters you will need a certificate of antiquity (which effectively confirms that the extension is older than 4 years) but in addition you will now need to involve the local Town Hall.

In the past, the certificate of antiquity was sufficient for your lawyer to update the escritura and then pass this through the Notary to obtain an update at the Property Register – sadly, as common in Spain, the system was abused by people and many certificates were “fabricated”.

As an extra check, the Notary will now need to see a certificate from the local Town Hall to confirm that they are also happy with the property – now this can open a huge can of worms if works have been carried out without the knowledge of the Town Hall.

There is no doubt that the whole process surrounding planning permissions and retrospective approvals is tightening up (and that’s probably no bad thing!) but it does mean that many properties which haven’t been updated within the Property Register over the years will be more difficult to update.

If you need any advice regarding the registration of your property (or if you need an up-to-date Nota Simple) then contact Torcal Estates who are officially recognised at the Property Register and can supply Nota Simple’s at cost price of €10.

Austerity packages announced but the sun still shines!  

Yes, the global economic woes are finally being acted upon by the Spanish government. The public spending cuts recently seen in Greece have been swiftly followed by Prime Minister Zapatero which will affect many thousands of Spanish employees.

Pay cuts, salary freezes and a bleak future for public sector workers is to be expected and that will flow through to affect the rest of society – people will be spending less and everyone has understood the need to tighten one’s financial belt.

The fact that we are heading for a new age of prudence is without doubt but the one thing that differentiates Spain from many other European countries is that they have actually only been wealthy for a fairly short period of time.

The fact is that Spain, and in particular Andalucia has been very poor for many years and only in the last 10 to 15 years has wealth been seen to increase.  This recent poverty means that many people still recognise that a frugal way of life is actually the way forward. Whilst consumer spending and materialism has grown hugely off the back of the Spanish property boom many still remember their youth when shoes and meat were luxuries.

We have already seen a return to farming, self sufficiency and a control on expenditure in our small village which will need to be replicated across much of Spain in the coming weeks and months. You never know it may even reach the UK!.

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