Tuesday, 20 November 2012

Two years' 'moratorium' on evictions

MADRID The Government agreed last week on allowing a delay of two years to families whose income is below €19,200 per year, and are defined as large families (familia numerosa, a legal definition) or with small children or other dependents, are unemployed or are victims of domestic violence. The mortgaged property must in all cases be the primary residence. A social housing pool is also being created. The Council of Ministers approved the Royal Decree-Law to protect mortgagees from being evicted for non-payment, and the housing fund to house those who do get evicted. Evictions are stopped for those coming under the above definitions, for two years. There are a number of requirements to qualify for protection under the decree. The housing pool will be created from properties the banks have repossessed by banks. The new law comes as a quick response to numerous evictions and the suicide of at least two people who were about to be evicted, as we reported here.

No comments: