Author: J Keeton

After nearly 50,000 home buyers have lost the legal rights to their properties across Spain, the Spanish development Minister (Jose Blanco) needs to convince investors to have faith in the housing market. He plans to promote the ´strength, transparency and soundness´ of purchasing property in Spain across a series of speeches in the UK, France, Germany, Switzerland, The Netherlands and Russia.

In 2006 it was found that Andalusia has 300,000 illegal homes, most of which belonging to UK expatriates whom the majority have all come to lose their property rights. After much time struggling to access basic needs like electricity or even access, the Spanish government shall now be pushing through legislation.

Developers have paid fines and handed land to the town hall meaning that 16,500 properties across Marbella may become legalized. Though many will still face demolition it is possible that owners may be able to reclaim a percentage of their loss according to Property Venture. The decision has yet to be announced whom will be the cost of these proceedings but rumours from the town hall say that third parties whom have been victims to these scams will be exempt. On the other hand reports from the regional government say that all parties may have to pay.

If you or anyone you know has been affected by the Spanish property scams, don´t hesitate to get in touch with Lexland Abogados for expert legal advice on property law available in 4 languages.

Sources:

-          http://www.mypropertyblog.wordpress.com

-          http://www.propertywire.com