Minimum Valuations on Foreclosed Properties Increased

Minimum Valuations on Foreclosed Properties Increased: discover what only the top, expert property lawyer in Spain know about minimum valuations on foreclosed properties increased

The National Council of Public Notaries in Spain has issued a circular to all practicing notaries to the effect that the new laws relating to foreclosures approved judicially should be extended to ‘non-judicial’ foreclosures. The new rules have a number of effects, the most important perhaps being that the minimum value that may be attributed to a foreclosed property is 60% of the assessed value instead of the previous 50%.

S0,  where a property is being foreclosed via the non-judicial route – which happens where the parties to the mortgage have expressly agreed what should happen where there is a default on the mortgage repayments – the mortgagees will  benefit from the same protection as those whose properties are being foreclosed via the courts.

To read the full story in Cinco Días in Spanish:

Los notarios ofrecerán las mismas garantías que un juez ante un embargo

And in English (via Google Translator):

Notaries set Minimum of 60% of Valuation on Foreclosed Properties

Related Services

23 Lawyers Offering Mortgage Disputes Services in Spain

Testimonials for our Mortgage Disputes service
  • Anuradha Oogur, La Manga Del Mar Menor
    Anuradha Oogur, La Manga Del Mar Menor
    Jul 15, 2021

    I definitely recommend Consuelo. Very professional, reliable, did the job with trust and confidence.


    English speaking and found her very helpful quickly responding to emails, phone calls. No hassle with the work. I really appreciate her work. I will definitely recommend Consuelo as I bought property and her job was done on time without any difficulties.


    Best of luck ,I will rate her work to 5 star!


Send Your Enquiry

Enquiry sent. Thank you!

Please fix errors