NEWS

Approval of the Provisional Tenth Regulation by the “Consell Insulares” (LOUS)

17Jul

Property Law and Tax Issues

As we have been posting during the last months in our blog, the last 29th of May it entered into force the New Balearic Planning Law (LOUS), that contemplates the possibility of legalizing about 30.000 properties built in rustic common land in Mallorca and Ibiza. The extraordinary procedure for the regularization of the buildings in rustic common lands is established in the provisional tenth regulation of the law Ley 2/2014 of the 25th nof march, and has been approved by the plenary session at the “Consell Insular D’Eivissa” (Ibiza) the past 2nd of June of 2014. It will be followed by the “Consell Insular de Mallorca”, that as stated by its president, María Salom, it will approved this provisional tenth regulation in the next plenary session scheduled for the 10th of July, with its later approval on the 24th of July. This way, a term of 3 years will be open in order to proceed with all the steps for the legalizations that will be subjected to the payment of all taxes and fees provided in the normal activity, plus a fine calculated on the costs of the execution of the building to be legalized that will be of a 15% during the first year of application, 20% during the second and 25% during the third one.

Please feel free to contact us in any of our offices in Mallorca or Ibiza. Bufete Frau lawyers and solicitors are ready to assist you in this and any other matter or concern you may have.

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