Spanish Corporate - Real Estate Legal Update No 26

    January 2015

    Welcome to the latest issue of our Spanish CorporateReal Estate Legal Update where you can find relevant information related to CorporateReal Estate.

    This issue contains the following articles:

    Modifying the Capital Companies Act for the Improvement of Corporate Government – Act 31/2014 of 3 December

    Following the Cabinet agreement of 10 May 2013, which set up an expert committee on corporate government, on 4 December 2014, Act 31/2014 of 3 December was published in the Official State Gazette.

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    Annual VAT Return (Form 390) Exemption for the Lease of Properties

    In an effort to reduce the administrative burden of the process, the Spanish Internal Revenue has decided to remove the requirement of submitting the 390 model (VAT return annual summary) for a sector of taxpayers.

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    Amendment of the Land and Town Planning Law of the Basque Country 

    The Land and Town Planning Law of the Basque Country, which came into effect in September 2006, established a maximum period of eight years for adapting all general plans and subsidiary rules on this matter in the autonomous region. In other words, according to those regulations, by 20 September 2014 all municipalities in the Autonomous Region of the Basque Country must have adapted their planning.

    Despite the efforts of local corporations, only 56 of the 251 municipalities in the autonomous region had met the deadline, while other 65 municipalities were still in the process of adapting their general plans and subsidiary rules to that Law.

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    The Supreme Court of Justice confirms that the Public Register does not give the Administration a title to property, merely possessory presumption which does not take precedence over the title registered in the Land Registry

    Judgement of the Supreme Court of Justice of 6 November 2014, Civil Division, Section 1.

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    The Supreme Court imposes the need for sufficient motivation on the part of the Administration for the individualised requirements of information relative to real estate surveys 

    Supreme Court Sentence (Contentiousadministrative Court room 3) of 20 October 2014. 

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    The Supreme Court decrees the nonapplication of the suspension of the payment of the warrant at first requirement of the debtor, considering that it is contrary to the independent nature of this guarantee with respect to the underlying relationship 

    Supreme Court Sentence number 398/2014 of 17 July. 

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