SPANISH LAWYER IN MARBELLA INFORMING ON “LIEU OF PAYMENT” (DEED IN LIEU OF FORECLOSURE) AND OTHER LEGAL INSTRUMENTS IN FIGHTING EVICTIONS PROCEDURES (I)

English speaking lawyer in Marbella, Felix Ruiz Peña, profesional of Arcos & Lamers Asociados would not desire to leave without comment on our blog, referring to the financial crisis and the bursting of the housing market bubble, the drama of evictions in our country. The number of foreclosures continues to rise, up to 18% more than last year at this time, according to the “Consejo General del Poder Judicial” (Spanish General Council of the Judiciary). Both, Government and Opposition meet to try to find a solution to thousands of families affected, with serious risk of losing their homes, for the imperative of a expired law and alien “to the social reality of the time that is to be applied” ( art. 3 Spanish Civil Code).A drama that supposes to the affected people to stay, by the overnight, on the street, being their only and main residence in many cases. Again, politicians are coming late and wrong to a problem that, safe to say, has been out of hand. In Spain, as in other countries around us, there is unlimited liability in the ejection of mortgages, ie the debtor, who grant a loan with a bank, responds –besides with the mortgaged property- with their present and future assets until the debt is paid off (art. 105 LH). And this is where we find the drama of evictions. Our Spanish Law firm, Arcos & Lamers Asociados, will not get into analyzing who is to blame for this situation, if those who once borrowed, perhaps, above their possibilities, or banks that knowingly, granted mortgage loans all around, who, after risk analysis, would not have the financial capacity to meet the payment obligation. All are partly to blame, but this would note take away the hopeless situation of many families.

Terms such as “lieu of payment (deed in lieu of foreclosure)”, “social tenancy rent”, “bailment”, “unfair terms”, “unjust enrichment” are no longer the exclusive legal forums, but the collective knowledge of common citizens.

After the failure of the Spanish Law, “Royal Decree Law 6/2012 of 9 March on urgent measures to protect mortgage holders without resources”, please do not leave to read out blog (“LIEU IN PAYMENT” (DEED IN LIEU OF FORECLOSURE) AND OTHER LEGAL INSTRUMENTS IN FIGHTING EVICTIONS PROCEDURES (II) where the efficient and professional lawyers, accountants and tax advisers of English speaking law firm, Arcos & Lamers Asociados will discuss some courts judgments that would support the “dación en pago” in Spain and other arguments that promote a change in our longstanding Spanish mortgage legislation.

Félix Ruiz Peña, Lawyer in Marbella, Málaga Spain.

Do you wish to help a relative or a third party with economical recourses? Do not hesitate to contact this English speaking law firm, Arcos & Lamers Asociados, for obtaining the corresponding legal advise to ascertain that you obtain additional guarantees to get your funds back.

Have you lend funds and is the borrower not fulfilling his obligations? contact now the registered lawyers of this English speaking law firm in Spain settled in Marbella Arcos & Lamers Asociados. The Spanish execution processes of Spanish mortgages guarantees is one of the services that in these difficult times are highly demanded.

Are you the borrower and you did obtain a mortgage facility in Spain and now you are not able to fulfill your obligations to the bank? Do not hesitate to contact the lawyers and solicitors in Marbella of Arcos & Lamers Asociados who will assist you efficiently to achieve the corresponding “Dación en Pago” with the bank – lender.

Approach the English speaking Spanish Lawyers of Arcos & Lamers Asociados for any legal, tax, labour and company advice you may need!.

Information with regards to bankruptcy proceedings in Spain may be found HERE.

Marbella, December, 2012.