Derecho De Tanteo y Retracto is to do with a new law in the Valencia region of Spain. This became law in June in 2020. It affects property as it gives the Valencian government the right to first refusal and withdrawal of property transactions.
How Does Derecho de Tanteo Y Retracto Affect Clients?
Basically if an owner is selling their property, now they need to obtain the permission of the regional Valencia government. Without it the sale cannot take place at the Notary.
This is something that will particularly affect people who think they do not need someone to help with the legal work for selling a property. As most people would not know which properties need an authorisation or what to do.
In addition, in another twist to this new rule, properties that are not affected still need a different certificate. This is to prove they are not affected by the law for completion at the Notary.
Important to Note
It is important that the paperwork is done right. Otherwise it could affect the sale and cost you money. It is also important that timescales for these documents are taken into account when planning a completion.
If you are thinking of selling your property in Spain, please do contact the team. Then we can discuss with you your property’s paperwork and advise and assist you, as now there are several requirements to meet when selling a property.