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- Liva & Laia : 15th November
The European Land registry Association has created a scheme to address the problems encountered by many expats concerning the legality of property that they purchase in Spain.
The scheme has been funded by the EU, and has been praised by Diana Wallis, the Vice President of the EU Parliament, in allowing the purchase procedure to be undertaken in the buyer's home country, and therefore bound by the protective property laws in place there.
A representative of ELRA commented: "The fact that the deed is processed in the buyer's own language by a conveyancer from their own country, [means] they get the feeling that they are better legally protected and will be less reluctant to buy real estate in foreign countries where the real estate market has collapsed."
The scheme is expected to be well received by potential buyers of Spanish property, who may have shied away from investing here in the past due to the country's poor reputation over issues surrounding the legality of properties.