Recent developments in inheritance law mean that, for individuals who are habitually resident in a Member State of the European Union, the transfer of a property by inheritance or gift is now largely tax-exempt. This is welcome news for anyone concerned about estate planning. For the acceptance of an inheritance involving a property in Spain, the traditional declaration of heirs (declaración de herederos) is no longer required or valid. Instead, the relevant document is n…
Progress has been made in the preparation of the new General Urban Development Plan (PGO) for the municipality of Los Llanos de Aridane. At the beginning of January, the tender for drafting the new plan was announced. Following completion of the tendering process, the preparation phase is expected to take approximately four years. This will be followed by the necessary technical implementation measures and the formal approval process by the local council, meaning that the …
Palminvest Estate Agency is launching its new website: offering improved functionality, greater clarity and—just as importantly—an enhanced presentation of our properties. We are very pleased with the result and hope you like the new design as much as we do. With our new favourites feature, you can easily save your preferred properties. In addition, we have expanded the search function and improved its usability. Among the new features is also the “News” section, w…
It is now official: the General Urban Development Plan (PGO) of the municipality of Los Llanos de Aridane, in La Palma, has been definitively annulled. Due to non-compliance with European directives, the entire plan has been declared void, according to a ruling of the Supreme Administrative Court. The trigger for this decision was a legal challenge brought by environmental activists and local residents against the construction of an asphalt plant in the affected municipality.
As our portfolio includes a significant number of building plots in the municipality of Los Llanos, we believe the following information is highly relevant for our clients. The Supreme Court of Spain has declared the current General Urban Development Plan (PGO) of the municipality of Los Llanos de Aridane to be null and void. The legal framework on which the plan was based has been annulled (the full ruling can be consulted separately).
