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Kyero Live
last updated: Feb 04 2012 2:19 PM
  • Non-hotel overnight stays increased by 5% in 2011
    Overnight stays in non-hotel tourist accommodation (apartments, campsites and rural tourism) exceeded 102.8 million in 2011, representing an increase of 5.2% over 2010, according to figures released by the National Statistics Institute. The rise experienced in overnight stays in non-hotel accommodation last year was as a result of a 7.5% increase in stays made by [...]
  • Cold Snap Heading for Malaga
    Europe is freezing, with the wave of cold weather hitting several countries, mainly in the East, leaving many dead, according to recent reports. Temperatures plummeted to -33ºC in the Ukraine, -31ºC in eastern Bosnia and to similar figures in Poland, Romania and Bulgaria, and this drop in temperature is likely to be felt in Malaga [...]
  • Demise of Spanair Good News, Says Ryanair
    The Chairman of Ryanair, Michael O’Leary, believes that the bankruptcy of Spanair is “good news for tourism and employment in Spain”, because, in his view, “it will allow the arrival of new airlines to take its place and, at the same time, increase traffic by offering lower rates and a more efficient service”. In a [...]
  • Moody’s Believe New Spanish Bank Mergers Will Affect Their Credit
    The rating agency Moody’s anticipates a significant deterioration of credit due to the second wave of mergers in the Spanish financial system, a process that “will not be financed with public funds,” although the Bank Restructuring Fund (FROB) remains in force. “The Government has clearly expressed its intention to limit public support to banks,” warned [...]
  • 2011 Closed with Highest Unemployed Rate Since 1994
    The number of unemployed in Spain has surpassed the 5 million mark for the first time, ending 2011 with 5,273,600 unemployed, according to the Labour Force Survey (EPA), released on Friday by the National Statistics Institute. The unemployment rate increased by 1.33 points to 22.85%, which is the highest it has been since the first [...]
  • Facebook Generates Jobs in Spain
    The world’s largest social network is more than entertainment for its users. According to a report by Deloitte, Facebook generates 232,000 jobs in the European Union. The same study, which measures the employment and economic impact of Mark Zuckerberg’s company, said that this accounts for 15,300 million euros of the EU’s GDP and 1,400 million [...]
  • IMF Calls for Increased Funding
    The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has called to “increase” but not “double” the European bailout fund, so that countries like Spain and Italy are not drawn into a liquidity crisis. At a conference in Berlin before the German Society for Foreign Policy, Lagarde said that “stronger firewalls” are essential [...]
  • Electricity Bills to go back to Bi-monthly
    The invoicing for electricity is to go back to being bi-monthly. This was proposed by the Ministry of Industry, Energy and Tourism as a draft royal decree establishing that the billing of domestic electricity consumers should be based on actual meter readings, taken every two months. With this new law, El Mundo reported that the [...]
  • Iberia Flight Strikes Called Off
    The main trade unions of the 16,000 Iberia ground staff, the CCOO and UGT, along with the TCP, the union of the 4,000 cabin crew, on Friday reached an agreement with the heads of Iberia to extend the guarantees of employment for both groups until 2014, with automatic extension until 2015. This agreement has resulted [...]
  • Japan Calls for “Greater Efforts” from Europe
    Before attending the G20 meeting to be held in Mexico over the weekend, Japan reiterated the need for Europe to make its “best efforts” to resolve the debt crisis in the eurozone. “As we have said many times, Japan is prepared to support European efforts to stabilise the financial markets, including the loans from the [...]

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last updated: Feb 04 2012 8:33 AM

Vicios Cultos in Spain

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Posted by Administrator (admin) on Jun 30 2008
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Last year, a Property Pulse subscriber sold an old town house in the Valencia region. Some time later, she was contacted by the estate agent, saying that the new owner had recently discovered that the beams in one of the bedrooms were rotten. He had spent money on repairs, and wanted her to share the costs, citing the law of vicios cultos.

When the previous owner of the property contacted me , I asked experts, Mark Wilkins of The Rights Group and Campbell Ferguson of Survey Spain for their comments and advice. Here's what "vicios cultos" means to you if you're buying or selling property in Spain.

The liability lasts up to 6 months after the sale. It appears that the seller of a property is liable even if the defects cannot be seen and they are unaware of them. However, if the buyer can be shown to have any property expertise (or perhaps if they employ a surveyor to inspect the property for them) then the buyer becomes responsible and the seller has no more liability. It appears much more relevant to buying a TV, heater, loaf of bread from a shop, but the act does not exclude property.

The seller is obliged to remedy, or compensate for, any hidden defect or flaw that the sold article could have if that defect makes it unsuitable for the use to which it is intended, if it diminishes that use, and that having the buyer known of their existence would not have bought it or would have offered a lesser price for it. If the buyer is an expert or a qualified person due to their job, occupation or profession, the seller would not be deemed as responsible for those defects or flaws either if they are evident or visible, or if they can not be seen, being that that person should have been able to recognize them easily.

The buyer could opt to annul the contract, being the seller obliged to pay the buyer all the expenses that they have incurred or to reduce an amount proportional to the price that should be ascertained by experts. Moreover if the seller knew about the hidden defects and did not warn the buyer regarding them, the buyer may claim for a compensation for the damages and harms if the buyer opts for the contract annulment.

If the article which had a hidden defect is lost for any fortuitous cause or because of the buyer's fault, the buyer might claim the price they paid for the thing, deducting any reduction in value that the article might have had when it was lost, plus damages and harms if the seller acted in bad faith. These provisions expire six months following delivery of the article sold.

As a seller, specific wording can be incorporated within a sale document which effectively excludes this liability and means that the property is being sold 'as seen'. As a buyer, watch out for this clause in the contract as a possible indication that the seller might be aware of defects which you haven't noticed.

Even though a property survey is not always required by the mortgage company, it makes sense to use a qualified surveyor before making any commitment to purchase a property.

Martin Dell, Kyero.com

Last changed: Jul 02 2008 at 10:50 AM

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