Legal tip 484. Cataluña Notaries for giving keys back to the Bank
Thursday, March 31, 2011 @ 10:29 AM
In a recent conference held at the Notary Society in Cataluña.
Some good measures proposed by them:
1.- Bank to repossess houses to the level of 80% of the debt against the current 50%.
2.- Delay interests to be in balance with market interests against the current 20%.
3.- A better regulation of property valuations system is also seen as very necessary as this has been on of the main source of problems of the current system.
4.- To promote notary sales of repossesed houses against costly and slow judicial processes. This needs to be expressly agreed on the mortgage deed.
The dean of Cataluña Notaries stressed that the role of legal proffessionals is to propose balanced visions of problems and to propose fair solutions in order to impede abuses against individual people at the same time as protecting lenders
He added that we need to learn from the current crisis and to introduce those modifications which will improve the system and which respond to an increasing and justified social alarm.
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"Golf Club La Alcaidesa", by Luis López-Cortijo