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A new form of tenure in Catalonia

The Executive Board of the Catalan government approved amendments to the Civil Code, suggesting the formation of the latest model of tenure. According to the news agencies of the country, talking about the form of temporary and joint ownership.

This legal system was made individually for the real estate sector, however, it can be used in the examination and to movable property, if the purchase is accompanied by the introduction in any register.

As stated by the Spanish authorities, the proposal may be the settlement of the problem of over-indebted, which refers to the purchase of real estate, and emerged in the last 20 years. A government spokesman Francesc Homs Catalonia drew attention to the fact that that this form of “mainly adapted to today’s problems in the field of access to the housing market.” Thus, local residents continue to have the opportunity to buy properties at a lower cost, because the application of the new model will allow to reduce the size of many displaced costs.

Period of time the property can reach 6 to 99 years. After his term ends property will pass to the former owner or his heirs.

If the property is framed as a joint, then the buyer will need to pay the initial quota and throughout the rest of the time to pay the seller the amount of at least 10% of the total cost. Initial deposit is decided by both sides, and the buyer in this case almost all the rights of the owner.

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