If you’re looking to move to Spain or simply want to find a place for a new vacation, the country has lots of beautiful real estate to offer. The country has a particularly low cost of living, and you’ll be in the midst of beautiful beaches and warm weather.
I recently bought a property in Javea, and used to have a townhouse in a small village called Giat in France, so I am aware there are some pitfalls in purchasing assets in a foreign country and Spain is no exception. With a combination of bequest law and selling difficulties, you need to beware of all potential dangers that you might face.
Beware of fake dealers
While it is not hard to buy assets in Spain, there are those who become prey to corrupt dealers. You need to be very cautious when an agent, a promoter or even a lawyer is urging you to cut corners in order to save time or money. When you choose a representative to help you buy property, you need to make sure that they are qualified and professional as well.
If you were to die while in Spain, your relatives are going to be faced with a set of rules and regulations in regard to your assets. Upon your demise, your possessions are going to be divided among all dependants in accordance to the legal regulations of the nation from which you come from. In contrast, there are rules that stipulate you must follow laws of the country where you died. In order to avoid this confusion, it is advisable that you write a will in regard to your assets in Spain. This is going to save your relatives a lot of trouble in trying to get your assets.
Spain has been in the headlines a lot lately and not always for a good reason. After global recession started in 2008, many countries suffered but it has only been lately that Spain has felt full brunt of the crisis. There are also strange property laws which were introduced in 2012. This law is only applicable to populations of not more than twenty five thousand people.
It is therefore essential that you take above information into account before getting property in Spain.