Identity theft could pose as big a threat to Spanish property owners as the application of CostaLaw (Ley de Costas), illegal building licences, demolition orders and 'Land Grab' laws, according to leading Spanish property website Fly2Let.
According to the site the activity has already had devastating effects on some property owners, making it vital for people to protect their personal information.
Ian Hawkins, Director of Safe Purchase Spain SL explains: “Thousands of Fly-to-let owners across Spain and the islands rent their properties every year. We are told by good lawyers to be careful with the contractual arrangements especially for longer-term lets, but not a lot else.”
Sighting a recent case in Madrid the website explains how easy it can be for an organised gang to carry out such fraud. The gang cruised suburbs, looking for unoccupied, rental properties to let. After agreeing to rent the property, they obtained the owners details from the rental agreement.
They then advertised the properties at well below market value in order to procure a quick sale. When a buyer was found, identity documents were forged and the sale made. Poor checks by the notary tend to make this easy to do.
“As a property owner, imagine arriving at your holiday home one day to find it occupied by someone you didn’t know who also claimed to be the property’s owner,” said Mr Hawkins: “The increasing trend in identity theft is something that every Spanish property owner should be concerned about.”
In some cases courts have nullified fraudulent sales, but not in every case. It is important that property owners protect themselves. A Safe Purchase Guarantee can be purchased for less than €25.
For more advice on this and other issues of Spanish Law please follow this link to our partner.
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