19 Feb 2017 11:09 PM:

Hi, 

I wonder if you could help me please. 

Around 10 yrs ago I purchased a property in Spain and a letting company managed the renting of the property. After around 1yr of ownership I received a letter to say the property had fallen into technical default. The letting company had gone bankrupt and had not informed us. The mortgage had not been paid for nearly a year. I spoke to the bank and they where not willing to negotiate and informed me it would be repossessed. So I walked away. Recently I contacted the Spanish solicitor about the property and he informed me that he still had the deeds and that I now owned the property outright.

I am going to contact him again tomorrow but I wanted to know, is it possible that I can now own the property? Does the bank have a certain time to repossess maybe and if not then the property passes to the owner? 

Thanks for you help.

J

Thread: Ownership of property

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04 May 2010 10:54 AM:

Thanks Joan and Faro for your replies.

THe current status is that the lawyer (With POA) has infomred me and my parents that it is a waiting game that he is 99% sure that he will be able to get the bank to take back the property. But it may take time. While in the mean time I am afraid to buy a house for myself (Not in spain) and continue to rent. I am afriad to get a mortgage here with this hanging over my head.

So if I terminate the lawyers POA it may mess up him being able to negotiate with the bank to take it back.

Also if a letter of repossesion is sent by the bank will it always go to the Lawyer ? Or could it go to the property (Which is vacant).

Sorry for the all the questions worried sick about all of this.

Thanks

J

Thread: Power of attorney

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04 May 2010 10:07 AM:

Hi Faro,

THanks for your reply.

I willingly bought the first property for my parents (Which has since been taken back by the bank). For the purchase of the first property I gave POA to a lawyer in Spain while I was there.

But after that another property was bought and I was infomred after the fact. This property was more expensive and the morgate has defaulted cause my parents could not get regular rent on it. But I found out the property has just my name on the mortgage.

What I am trying to find out is can the lawyer (With POA) buy another property without my consent. (My parents basicallly gave him the go ahead).

J

Thread: Power of attorney

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03 May 2010 11:45 PM:

Hi Claire,

Thanks a lot for reply.

THe problem is my parents wanted to buy a property in spain but as they are in there 60's they could not so being the good son I went to spain with them and signed power of attorney to a spainsih lawyer at a notery and also a and the bank for a mortgage.

Then 6 months later I get a call from my parents who inform me that they have bought another place this time in my name. (Nice hey) So then the crash happens they can't rent them either property or afford to keep up on the payments. The lawyer who has power of attorney was able to get the bank with the first property to hand it back. But the second bank will not take back the second one the lawyer is saying we have to wait.

So basiacally my parents bought another place without my consent. Does the lawyer have the power to buy another place without any consent from me ?

Regards

John

Thread: Power of attorney

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03 May 2010 12:00 AM:

Hi All,

Does anyone know if a laywer (Spanish) who I have granted power of attorney to can sign and agree to but a property without my consent ? (Written)

Thanks

John

Thread: Power of attorney

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