How can we reduce the Wealth Tax bill?
by Ibiza-Legal
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The wealth Tax was abolished in Spain in 2008, but a few years ago it was brought back again at national level, and thus, also in Ibiza. This tax is applied both to the property of residents and of non-residents when the value of their belongings in Spain is over and above of 700,000 €.

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What are the mortgage costs that the Spanish banks will need to repay?
by Ibiza-Legal
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There has been much talk in the press recently about the latest rulings stating that the banks should have to pay back to their customers at least part of the additional costs of setting up a mortgage. Until recently, there was a clause in the general conditions of mortgage loans that determined that the client, as the borrower, had to assume all additional costs. These include, primarily, the costs for the notary, the land registry and the accountancy, as well as the “impuesto sobre actos jurídicos documentados”(IAJD), a tax paid by the buyer at the time of closing.

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The function of the Land Registry
by Ibiza-Legal
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Even a layman knows the importance of checking the Land Registry when buying a property in Ibiza. This institution is based on the principle of the public faith registration, i.e., the information about registered properties has objective reliability.

In contrast to private contracts, the deed of sale that appears in the registry is opposable to third parties and the recorded data is available to everyone without limitations.

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