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New Law to Clean up Spanish Property Industry. Wednesday, July 04, 2007
A new Spanish law brought into force on the 1st July has been designed to bring greater transparency to the planning system and increase confidence in the Spanish property industry.
This new Spanish law, which covers the Land Legal System, Property Valuation, and Citizens Rights and Duties, will address the issue of how to sustain and manage growth in cities and urban sprawl and the protection of the environment. The new law also expressly rules on ownership rights, landowners’ obligations and the right of citizens to participate in urban planning proceedings.
In an attempt to prevent abuse of the planning system, it will now be against the law not to make public who will benefit from land that has been reclassified as available for building. This means that public officials who have ties to the property industry or a property developer will be obliged to disclose this publicly as part of the planning process.
Based in the Marbella office of law firm Irwin Mitchell Abogados, Isabel Perez Blanco said: ‘If the law is adhered to then the levels of corruption which have gained the Spanish property market a bad reputation should be significantly reduced.’ She added that: ‘It appears that, in the most part, the new law will alleviate many concerns that people have surrounding buying a property in Spain.’
The law firm points out that, while Spanish nationals have the right to appeal against any parts of the law, no appeals have currently been lodged. ‘At the time of writing, there are no appeals in the pipeline and with days to go until the law goes live it looks like this law will be the first land law to come into force without any objections,’ said a spokesperson.
Story from OPP (registration required)