On May 4 last, Law 13/2009 of 3 November on the Reform of Procedural Law came into force. Included amongst the many new provisions of this law are changes to the Civil Monetary Process, which has been considerably expanded in its scope as a result of this reform and it now provides for debt claims of up to €250,000 whereas, until this reform, the amounts claimed had been limited to €30,000.
There are different rules which apply depending on whether you are considering acquiring a property for personal or business use, or whether the property is old or new or is a listed building, or whether you are buying on your own or in joint ownership or even as a time share.
This article deals with the purchase of a residential property.
We are sometimes faced with situations where we have a shared heritage with others for various reasons, for example, because of buying in common and undivided, because they inherited a property in common with others, because they were married under the matrimonial property regime and purchased goods during the marriage.
The 1st of January 2011 the International Chamber of Commerce (ICC) will release a new version of INCOTERMS under the title, “Incoterms 2010 ICC rules for the use of domestic and international trade terms“. Such version, through a clear and easy understanding wording, encourages the application of the International Commercial Terms (INCOTERMS) not only for international trade but also for domestic.
The council of ministers approved on the 2nd of July a the Redrafted Text regarding the Law of Capital Companies through the Royal Legislative Decree 1/2010, in which one legal document unifies the respective norms regarding public limited companies, limited-liability companies, public companies and partnership limited by shares, in other words all capital companies existent in our system.
In Spain, it is often the case that entries recorded in the cadastre and the land register (register of deeds) are not identical and the two registries can often contradict the actual plots on the ground.
We are currently in an economic stage of globalization and the internationalization of trade relations. Within this period, the increasing complexity of transactions and the current economic crisis are contributing factors to a greater proliferation of international commercial disputes.
