In today’s ‘El Pais’ newspaper, the national Spanish periodical, the front
page story is that the EU Court in Luxembourg considers present Spanish mortgage
law to be incompatible with European Law as it prevents Judges from protecting
home owners from evictions.
The report goes on to say that the Spanish legislation is contrary to a
European directive of 1993 on consumer
protection. This has come to light in a case brought by a judge in Cataluña.
This latest
ruling will affect all current and future foreclosures and it is expected that
the Spanish Government will have to change the law.
De Cotta Law
will be preparing a report on this in due course.
If you have any
questions about property ownership, please feel free to contact De Cotta Law.
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