Spanish Corporate Real Estate Legal Update No 29

    View Author January 2016

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

    This issue contains the following articles:

    Royal Legislative Decree 7/2015, Approving the Consolidated Text of the Town Planning Act

    On 31 October 2015 the new consolidated text of the Town Planning Act approved by Royal Legislative Decree 7/2015 of 30 October was published in the Official State Gazette of Spain (in Spanish, BOE), replacing and repealing that of 2008.

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    Current Problems Posed by the Tax On IIVTNU

    In the aftermath of the real estate bubble burst and the onset of the economic crisis, the fall in housing prices has been drastic, having been estimated as a 30-40% drop in property values since 2007, the peak year of the real estate bubble. The sharp decline in these prices has resulted in a frequent phenomenon whereby the cadastral value of the properties is much higher than the market value, leading to a significant gap between register value and actual value of properties.

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    Order Jus/1840/2015 on the New Model of Public Deed of Telematic Incorporation of Limited Liability Companies

    On 12 September 2015, Order Jus/1840/2015 of 9 September was published in the Official State Gazette of Spain (BOE). This approved the model of public deed in a standardised format and encoded fields for limited liability companies, as well as the list of activities that may be included in the corporate purpose of such entities.

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    The Technical System to Exchange Information Between the Cadastre and Land Registry Comes Into Force

    On 30 October 2015, Sub-secretariat Order of the 29 October 2015 was issued, publishing the Joint Order of the National Registers and Notaries Directorate General and the Cadastre Directorate General. This order regulates the technical requirements for the exchange of information between the Cadastre and the Land Registry.

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    DGRN Updates Its Doctrine on the Resignation of the Office of Agent of a Company

    Ruling number 10467/2015 of 30 July of 2015 from the Directorate General of Registries and Notaries (DGRN).

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    Competence of The Magistrate of the Mercantile Court Regarding Social Security Debts as Part of Insolvency Proceedings

    Brief notes on the Ruling of the Provincial Court of Zaragoza, 5th Section, of 16 February 2015.

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    DGRN Issues a Resolution on the Statutory Mention of Executive Administrator Remuneration

    Resolution number 10470/2015 of 30 July from the Directorate General of Registries and Notaries (DGRN).

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    The Supreme Court Cancels the Limitations Imposed on the Surface Area of Shopping Malls in the Basque Country

    Supreme Court Ruling, Contentious Administrative Chamber, of 3 September 2015.

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    Spanish Supreme Court Issues Interim Relief Order to Suspend the €3 Million Tax on Three Shopping Centres

    Analysis of the Sentences of the Administrative Law Court, Section Two of the Supreme Court of 14 December 2015.

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    The Supreme Court Rules on the Termination of Sale Contracts Due to an Unjustified Delay in the Formalisation of the Deed

    Supreme Court Ruling, First Civil Chamber, Ruling number 364/2015 of 28 June 2015.

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