Filed under: Law
The Plusvalia Tax is a tax set by the local authorities and based on the increase of the value of the land from the date the owner acquired the property to the time of the present sale.
The local authorities determine the amount of plusvalía to be paid for each house purchase in Spain, depending on the area where the property is located. The market value or sales price of the property does not have an effect on the plusvalía tax.
Normally, but not necessarily, the seller pays the plusvalía tax. However, this will depend on the sales agreement. The tax is calculated according to the ratable value of the property and the number of years it has been in the ownership of the vendor.
Filed under: Law
The Statutes and the internal rules of the community
Most communities have a wide set of rules which governs the property owners rights and standards of behaviour expected from the persons who reside on the complex. The Statutes of the community may only be modified by unanimity vote of the community owners, both present in person and by proxy. If Statutes need changing, this pertains to the annual general meeting.
The Statutes must set out the private share which corresponds to each owner.
If any member of the community violates the statutes, the community members can vote to ask the court to issue an injunction, which will forbid him from entering his property for a period of up to 2 years.
Besides the Statutes, the owners may establish internal rules, providing standards of behaviour for the community members and use of the common services. The owners are also obliged to comply with these rules, which may be modified by their simple majority vote.
Article by iAbogado Servicios Jurídicos SL (Madrid, Spain). Visit www.iAbogado.com for more original content like this. Reprint permission granted with this footer included.
Filed under: Law
Finding out your community share before buying your property
If you are going to buy a Spanish property, which takes part of a block, it is advisable to check at the Spanish Property Registry (Registro de la Propiedad) the physical description of your apartment and the building that is attached to, in this way you will find out your property size and what is your common-area share.
The Spanish Property Registry may also provide you with the rules about the use of the common facilities, general management and maintenance, which take part of the Statutes of the Community of Owners. Every new owner will be bound automatically by the Statutes and the decisions taken at previous meetings.
You should also make sure the seller is current in his payments, otherwise the unpaid back community fees could be charged to the new owner.
If you are purchasing in a new development the rules of the Community must be explained to you and approved on your behalf.
Article by iAbogado Servicios Jurídicos SL (Madrid, Spain). Visit www.iAbogado.com for more original content like this. Reprint permission granted with this footer included.
