How to Sell a Property in Spain Typically, it’s commonly believed that in the event of a property sale, the buyer, being the weaker party, seeks legal guidance. However, this “legal” assistance is often provided by a middleman. Though this may seem accurate at first glance, it’s not entirely the case. According to Spanish law, both the seller and the buyer face equal risks when real estate is being sold. The seller risks the sale being declared invalid, resulting in a refund of all funds. Similarly, the buyer risks the purchase not meeting the agreed-upon terms or lacking necessary guarantees ..read more

Second homes in Mallorca are a valuable investment and a retreat for those seeking to escape the hustle and stress of daily life. However, maintaining and managing these properties can be a challenge, especially if you are a foreign owner. This is where Property Management services come into play. Hiring the services of a professional property manager can make a difference in the experience of owning a second residence in Mallorca. In this article, we will explore the importance of hiring Property Management services and how they can benefit you. Ongoing Care and Maintenance: One of the main ..read more

The Land Value Increment Tax (LVIT) is a levy on the increase in the value of urban land at the time of its transfer. It is a local tax applied in many countries, including Spain, and its main objective is to generate revenue for municipalities. In this article, we will explore what the Land Value Increment Tax entails and how it is calculated in the Spanish context. What is the Land Value Increment Tax? It is applied when the ownership of urban land or property is transferred. The tax is based on the theory that the value of the land increases over time due to urban development and improvemen ..read more

Mallorca, the jewel of the Mediterranean, has long captured the attention of foreign investors seeking lucrative opportunities in the real estate market. With its exceptional climate, beautiful beaches, breathtaking scenery and enviable quality of life, it is no wonder that Mallorca has become a popular destination for those wishing to invest in property abroad. In this article, we explore the growing trend of foreign property investment on the island and the reasons why it offers an attractive and profitable opportunity for investors. Stability and Profitability: Mallorca offers a stable and ..read more

Logically, the most sought after plots of land on the Islands are those near the sea. It is thought that there is a risk involved in their purchase, when, in reality, if they are classified as urban, the protection does not make them unbuildable, but it is necessary to take advice in order to comply with a series of conditions imposed by the Coastal Law. The purpose of the aforementioned Law is to regulate the use of these properties, in accordance with their nature, their purposes and with respect for the landscape, the environment and the historical heritage. As well as achieving and maintai ..read more

The Inheritance and Gift Tax is a tax ceded strongy the State to the autonomous community which is levied on increases in wealth (inheritance, legacy, donation and life insurance not sustrongject to personal income tax) of individuals and whose management and collection is the responsistrongility of the Government of the strongalearic Islands, if any of the following: the donor of the transfers “mortis causa” had his hastrongitual residence in the territory of the strongalearic Islands, when the donated real estate is located in the territory of the strongalearic Islands when the donee has hi ..read more

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After the 33rd anniversary of Despacho Lamas, we met with the founder, the lawyer who in 1989 decided to open what was then called Bufete Jaime Lamas, and his two daughters who joined the firm five years ago. There are no secret formulas. Preparation, creativity, work, work, work and work. After thirty years of experience, the firm has established itself as one of the most important on the island in real estate law and in all services related to the purchase, sale and administration of properties (Property Management). And after three decades, what is the firm’s philosophy? “A job well done ..read more

We are often asked under what conditions a landlord of a property can terminate the lease before the end of the rental period if the tenant fulfils his obligations, in particular the payment of rent. In another article, we will look at the time limits set out in the Urban Leases Act. Today it is important to highlight that if after the first year of the contract and provided that it is a natural person and not a company, the landlord needs the rented property either for himself or for his first-degree blood relatives or for his spouse, he can reclaim the property. In the event of a final divor ..read more

From January 2021, people from the UK are no longer EU citizens and, although they can still travel to Spain, they can only stay in the country for a maximum of 90 days PER 180-day period. For those wishing to stay longer or even permanently, a residence permit is now required. A relatively simple way of acquiring such residency for british nationals wishing to purchase property in Spain dates back to 2013. This visa entitles you to reside and work in Spain and to travel in Europe (90 days out of 180 days) In September of that year, the Spanish government passed a law to encourage foreigners t ..read more