GIPE Newsletter 17 October 2024

LEASES:

TEMPORARY LEASE FOR WORK

The type of lease that must be formalized when renting a home to a person who moves for work reasons depends on the circumstances. If the tenant moves with his/her family for one or two years due to a professional project, it will be considered a housing lease. However, if he/she only needs to spend a few days a week in the city for work while his/her family remains in their usual residence, it will be a seasonal lease, since he/she keeps his/her main home.

REAL ESTATE:

CAN YOU SELL ME YOUR STORAGE ROOM?

If you have a storage room “attached” to your apartment and the owner of the adjacent storage room wants to buy it to expand his/her own, he/she must first disassociate the storage room from his/her home, since the attached elements are legally linked to the property. To sell it, several steps are required: meeting agreement, public deed and the sale. If the neighbour wants to combine the storage rooms in a single property, he/she will need administrative authorisation, a meeting agreement and notarial and registry procedures. Alternatively, you can choose to sign a contract of transfer of use or a lease to avoid the complicated procedures for disassociation.

CONSTRUCTION AND DEVELOPMENT:

IT IS OF LOWER QUALITY THAN INDICATED IN THE REPORT!

If when buying an off-plan flat the final result does not match the report of qualities provided, the buyer can make a claim. The report of qualities is essential to know the materials and equipment of the property. It is considered non-compliance when the materials used are of lower quality or have a different aesthetic than agreed. To make a claim against the developer, you must first try an extrajudicial route, filing a formal claim. If this does not resolve the problem, you can go to court within a period of five years. It is also possible to agree to terminate the contract and return what was paid if the result is not satisfactory.

MORTGAGES:

THIS INTEREST RATE IS ZERO

When granting a mortgage loan for the purchase of a home, banks apply two types of interest: remunerative, which is the bank’s profit for granting the loan, and default, which penalizes the borrower for late payment of the installments. The law establishes that in mortgages on residential properties, default interest cannot exceed the agreed remunerative interest by more than three percentage points. If this limit is exceeded, the borrower can claim that the default interest be declared null and void because it is considered abusive.

GIPE: Together we will be stronger