Community fee debt on repossessed property
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I am told that banks do not need to register their ownership on repossessed properties until they are ready or able to sell them and that they do not do this because it enables them to avoid paying community fees.
Can you please tell me if this is true and confirm exactly at what point the bank becomes liable for onward community fees and also for the accrued debt?
Many thanks
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Hi Plexx - like many things in Spain, it depends! Some banks will pay the community fees regularly and others will wait until the last minute before paying out. I suppose the good thing is that they all seem to pay eventually, but often the community has to wait until there is a buyer before being paid.
In the community where I have a house, we have been able to charge some of the banks for the maintenance of the gardens of repossessed properties, as well as the fees. Others just ignore it. This can create real problems as it can take some of the banks about 2 years to put a property on the market and even then some are priced to sell and some are not.
Sorry to be so vague but that is my experience!
_______________________ Claire
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Thanks Claire. They may pay something eventually, but the waiting game is in their favour as I understand that they are only liable to pay current year to date and previous year fees from when they 'own' the property and that this is the rationale for them delaying registration.
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