First of all, it is crucial that the seller inform the buyer of any outstanding spills. In accordance with the Horizontal Property Law, the seller has the obligation to provide the buyer with all relevant information about the financial situation of the community of owners, including the amounts payable.
If the seller omits this information and the buyer later discovers that there is a pending spill, he can take legal action alleging hidden defects within a period of 6 months.
Depending on the amount of the spill, the legal process can follow different routes, whether it is a verbal trial or an ordinary trial.
Furthermore, if the buyer finds out about the existence of a pending spill after purchasing a home, he can also resort to legal measures such as “aliud pro alio” to claim what was agreed. In all cases, if you need any help of real estate agent, don’t hesitate to contact Oasis Home Buyers.
Who Pays The Spill In A Sale?
If there is an approved spill before the sale, the responsibility for payment may fall on both the seller and the buyer, depending on the specific situation.
In Which Cases Does The Seller Pay The Spill?
The seller may have to assume responsibility for paying the amount if it was already approved and in the process of payment at the time of the sale.
However, it is important to highlight that if the seller informs the buyer about the existence of the spill and the deadlines for its payment, and there is no agreement to the contrary, the buyer must assume the payments of said spill that are issued as of the day of your purchase.
In Which Cases Does The Buyer Pay The Spill?
If the approval of the spill occurs after the sale, the responsibility falls on the buyer. That is, even if the buyer had no prior knowledge of this additional expense, when acquiring the property he agrees to face the costs associated with said spill.
It is important to highlight that as long as the seller informs the buyer of the approved expenses, it is possible to negotiate this issue and reach an agreement between both that must be reflected in the purchase and sale contract.
How Do You Know If A Property Has Pending Spills?
To determine if a property has pending spills, there are a few key steps you can follow.
First of all, it is essential to request the seller’s debt certificate from the community of owners. This document details all pending payments, offering a clear view of the financial obligations that could fall on you as a buyer.
Additionally, conducting a thorough building inspection is crucial. In this way, you will be able to evaluate the state of conservation and maintenance of the property, anticipating possible repair needs that could require future spills. Observing the general condition of the building will give you clues about the possible additional expenses of the sale that you could face in the future.
Another aspect to take into account is to carefully review the legal documentation of the property. Verifying that there are no debts with the community of owners is essential, since these debts could be transferred to you as the new owner. Analyzing the financial and contractual situation of the home before purchasing will help you avoid unpleasant surprises later.
Is It Possible To Claim If The Property Has Pending Spills?
You have a period of 6 months to assert your claim. If the amount at stake is less than 6,000 euros, the process will be through a verbal trial; if it exceeds that figure, it will be an ordinary trial.
In addition, there is the possibility of resorting to the legal figure of “aliud pro alio”, which basically means that they have given you something different than what was agreed, but it is important that you know that both actions can go hand in hand and that the term of this second option extends to 5 years.
Interesting Related Article: “Exciting Trends in Private Real Estate Investment“