Why are repossession procedures stopped in Spain?

Surely they are subject to HPA laws once they purchase properties from the bank.

I assume they must register as new owners, therefore liable for historic unpaid plus future fees.

Hugh_Man: Yes, you are correct, once they are registered at the Land Registry as new owners and communicate this to the Property Administrator, or he knows about this by any mean, they are under HPA;  not before, which is the period I was referring to when I said in my last post that there is no regulation.

A fund can be legal owner ( after repossession by the Bank, according to agreements between the bank and the fund) of a property and a Land Registrar can estimate, he cannot register its ownership rights out of repossesion as it was not the holder of mortgage rights there. So there is a limbo time where it is not clear  even who can be the registrar owner, let alone, who is risponsible for paying community fees. 

This is the loophole that I made reference to Maria and needs to be reported to ALL the relevant authorities, as it's currently being abused by the Banks.

Plus it does a grave disservice to not only innocent owners within the communities but also it sadly harms the reputation of purchase in Spain leaving existing owners within communities at unnecessary risk to pay the price in all manner of compromises associated with the shortfalls in community fees owed by the Banks in the lengthy interim periods. ( Not a small amount... and to repeat for those unfamiliar with this problem, currently to the tune of 330.8 millions owed by the Banks to communities). Shameful.

It really shouldn't have to be this way!

Kind regards and sincere thanks for clarifying this Maria.

This message was last edited by ads on 15/09/2017.

This message was last edited by ads on 15/09/2017.

Yes Ads tiatally agree, we have waited up to 12 months after supposed repossession of a property before the bank registers it with the land registry IF at all, using all sorts of excuses of paperwork and documentation.

As I said banks like La Caixa regularly wait until they sell the property on to a new buyer, if they can, but are now reacting quicker, if and once a Burofax is sent.

Communities and Administrators have to be proactive.

I am unsure though who can report this anomaly, to whom and whether it is actually illegal or merely immoral on behalf of the banks.

Even many Administrators don't seem to be aware of who or how to inform, they are still in awe of the banks and the lawyers and have no wish to upset the cosey status quo.

http://www.cgcafe.org/contacto/ Property Administrators

https://www.ombudsman.europa.eu/en/atyourservice/whocanhelpyou.faces European Ombudsman

http://www.eba.europa.eu/about-us

The European Banking Authority (EBA) is an independent EU Authority which works to ensure effective and consistent prudential regulation and supervision across the European banking sector. Its overall objectives are to maintain financial stability in the EU and to safeguard the integrity, efficiency and orderly functioning of the banking sector.

The main task of the EBA is to contribute to the creation of the European Single Rulebook in banking whose objective is to provide a single set of harmonised prudential rules for financial institutions throughout the EU. The Authority also plays an important role in promoting convergence of supervisory practices and is mandated to assess risks and vulnerabilities in the EU banking sector.

The EBA was established on 1 January 2011 as part of the European System of Financial Supervision (ESFS) and took over all existing responsibilities and tasks of the Committee of European Banking Supervisors.

"The EBA is mandated under Article 9 of its founding Regulation to monitor financial innovation across the EU and to foster a consistent supervisory approach to innovation in the financial sector."

http://www.bde.es/bde/en/secciones/servicios/Particulares_y_e/Servicio_de_Ate/Servicios_de_At_6d9079a9970c631.html

Consejo General del Notariado (http://www.notariado.org/liferay/en/web/notariado/home

Just a few to consider Hugh and Maria.....

Are your properties being repossessed by the Bank?

After recent Court decission by the European Court, possibilities to oppose an enforcement procedure if the anticipated maturity clause was included in your Notary deeds are much higher

Also, depending on value given to the property for auctions, a settlement with the Bank is possible. There are also other abusive clauses playing now much in your favour if a repossession is started

https://www.costaluzlawyers.es/2019/04/04/new-cjeu-sentence-to-favour-mortgage-holders-in-spain/

https://www.costaluzlawyers.es/2018/10/19/european-union-comission-on-irph-clause/