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Old 06-11-2007, 07:43 PM   #2 (permalink)
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Homefinder
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Default The "Tranpaso"

A valid instrument for leasing is called a "traspaso" in Spanish.

What happens is that the person holding the traspaso is encouraged to maintain and improve the building and build up his business.
With luck he can then sell the business on and there is a clause relating to a commission for the owner.

The owner benefits as well because the value of the property increases and he can always sell it on but has to give 1st refusal to the tenent.

A traspaso should always be drawn up by an abogado. I would not trust a Gestor to do this. The contract should be notarised and can be registered in the Land or Contracts Registry, thereby protecting the tenent.

I know several people who have come unstuck with their traspaso and there is no need for this if it is drawn up properly.

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