Are property prices really on the up in Spain?

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14 Sep 2015 4:33 PM by johnzx Star rating in Spain. 5242 posts Send private message

Ads    re when I said the notary would not make the contract when I was going to make a load against a property.

When I did make it, I did not notify Property Registry that I had advanced a loan on the property.

Some while later I discovered that the property had been sold, but my loan had not been repaid.

When I explained to the notary who acted for the sale of the property, he said he would start proceedings against the new owner to receiver my debt. That was so even though the new owner, did not know of the debt and had no way of discovering it existed.

As things  turned out I was able to recover the load from the original owner.   But that is another story and not for here.

Moral of this story..  Don't be surprised of you inherit a debt when you buy a property in Spain,  which you could not have known about, but are still liable for.!

PS   I made a few loans after that incident but always made the record at the property reg, albeit that the legal fees for the lender s were ridiculously high.





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14 Sep 2015 5:47 PM by ads Star rating. 4134 posts Send private message

I keep saying this, but it doesn't have to be this way and this form of ongoing insecurity in the conveyancing system could be prevented at source if the system was reformed and registration was OBLIGATORY and not voluntary.

Likewise if recognised regulatory bodies for agents/lawyers etc (kite marks?) were brought into existence or associations such as the Bar Association could be more effective.

Sadly everything associated with conveyancing insecurities in Spain relates to a system that deals with problems after the event, instead of correcting at source.

It seems crazy to me, and self inflicted and unnecessary complexities. :(

If only the powers that be or those good people within the industry would fight for reform to remove such insecurities to the benefit of the Spanish real estate industry. 

 


This message was last edited by ads on 14/09/2015.



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31 Dec 2015 11:59 AM by KWMiers Star rating. 6 posts Send private message

Buying a new property is something one of the biggest decision a person makes in his life.





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31 Dec 2015 7:55 PM by acer Star rating. 1538 posts Send private message

Disagree, it's very minor compared to your marriage decision.



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