ECJ Rules on Spanish Eviction Law
The European Court of Justice (ECJ) delivered a victory to Spanish mortgage holders by striking down a law that proscribed Spanish courts from halting evictions even if the fairness of the mortgage agreement was in dispute. The court noted that the law gave mortgage holders “incomplete and insufficient” protection, particularly when the subject property was a family’s primary residence, according to The Financial Times.
According to Spain’s General Council the Judiciary, about 415,000 eviction orders have been issued since 2008 and 60 percent of those evictions have been executed.
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The Spanish government has promised to bring the law in line with the court’s decision.
Last Updated on March 17, 2013 by Ramin Seddiq