i have found myself in somewhat of a predicament, and wonder if there is anybody among the members who can maybe give me some diection.
recently i engaged a couple of estate agents for a house visit to give me their opinions, valuations etc, with a view to marketing the property. i gave them all paperwork, such as nota simple and escriturra, then was shocked to discover that my home was still under VPO !!!
when i bought the property through UNICASA, 9 years ago, i was told by my Spanish lawyer that when the property was more than 10 years old (2007), the VPO would no longer apply, and it would assume normal market value for all intents and purposes, with no further action required from me as the owner.
to my dismay, i learned from the visiting estate agents that this was not true, and although not fully certain of procedure, i should go to the Junta de Andalucia in Malaga with all of the house documents to request release from the VPO, but even then, it was a very long process it and not certain to be granted - in fact (although unlikely) it could be within the Junta's rights to buy back the property at a figure of their own valuation!
though i did know the property was VPO when i bought, it now appears that i was massively mislead by the parties involved, namely UNICASA, the lawyer, and (most disappointing of all) the lending bank for my mortgage, Banco Halifax (now Lloyds Bank International) - surely they should not even have lent the money, having all of the information to hand, and knowing the possible ramifications. they should certainly have advised me of these massive pitfalls.
can anyone tell me if indeed it was legal for the transaction to occur at all ? the house cost me over 250k, but the VPO value at the time was apparrently only 100k...
i'd be really grateful if someone has any advice on where i should go from here to find out where i stand legally, then i can attempt to sort the whole mess out.
fingers crossed...