El Blog de Lawyou
What is the right to vacations? . The vacation is the period of rest in which, despite not working, the worker continues to receive the salary that corresponds to him/her. The vacations correspond to that person who has worked during the whole year and must enjoy them within the year in which they have been […]
What is a business corruption offense?
The mere acceptance of an offer or promise to obtain an unjustified benefit or advantage in exchange for unduly favoring another in the acquisition or sale of goods, or in the contracting of services or in commercial relations is punishable as a crime of corruption in business.
Why is compliance so important for companies?
The criminal liability of companies
2015 was a key year for both criminal law and criminal procedural law, as the Criminal Code and the Criminal Procedure Act underwent reforms during that year.
With the reform of the Criminal Code, the criminal liability of legal entities was introduced. This implies the possibility that the commission of certain criminal acts can be imputed not only to individuals who have committed them within a company (whether partners, directors, managers or employees), but also to the company itself as an entity.
This means that companies must assume the acts of the individuals that make up their organization, being able to become passive subjects in the criminal process, and assuming the consequences of this, which may even include the closure of the company.
Surrogacy . The filiation derived from the figure of surrogacy is currently one of the most controversial issues that we find in the field of Family Law. This issue, which presents a myriad of opinions of both ethical and political significance, has a very high technical and legal complexity and valuation that brings with it […]
New Mortgage Law
On June 16th, 2019, Law 5/2019, of March 15th, regulating real estate credit contracts (hereinafter the «New Mortgage Law») came into force, which includes a series of new features that affect both customers and financial institutions offering loans with mortgage guarantees.
The first objective pursued by the New Mortgage Law is to establish measures for the protection of individual consumers who are debtors, guarantors or guarantors of loans secured by mortgage or other real right of guarantee on real estate. To this end, the New Mortgage Law establishes the following objectives:
To enhance legal certainty and transparency
To facilitate and guarantee the understanding of contracts and their clauses.
To regulate and establish a fair balance between the parties
In addition, it is relevant to take into account that the New Mortgage Law aims to transpose into national law the European Union regulations on this matter, reflected in Directive 2014/17/EU of the European Parliament and of the Council, of February 4th, 2014.
Questions and Consequences of the New Mortgage Law
There is a lot of confusion with the new Law regulating Real Estate Credit Contracts known as the «mortgage law». For this reason, we offer you 7 basic questions to take into account before this new change that affects banks and clients.
Does the new mortgage law affect what I am already paying?
This new law already in force will apply for all contracts signed from June 16, 2019. For customers who signed at an earlier date, they will not be able to benefit from many of the aspects to take into account. Although some of them will be retroactive.
Extension of the foreclosure period in case of non-payment.
Opportunity to change bank without the current entity being able to prevent it.
Change of a variable loan to a fixed rate with a discount in the commission.
What is the PSD2 standard? Es posible que durante los últimos días hayas recibido alguna comunicación de tu entidad bancaria en relación con la entrada en vigor de la nueva Directiva (UE) 2015/2366 sobre Servicios de Pago, también denominada PSD2 (Payment Services Directive 2). Esta Directiva deroga la normativa europea anterior, la Directiva […]
What is the IRPH?
The mortgage loan reference index (IRPH) is an interest rate that is calculated as a weighted average of the interest rates of loans with mortgage guarantee, with a term equal to or greater than 3 years, for the acquisition of free housing.
For its calculation it takes into account the APR, so it includes commissions, which means that the calculation of the new indexes (issued by the Bank of Spain), are multiplied exponentially.
What is the tax treatment of bad debts?. Part I. Spain. The impairment of financial assets, including receivables made up of trade receivables (for operations related to the company’s line of business) or receivables from non-trade operations (e.g. loans granted), is a recurrent occurrence in companies. As is the case […]
