The recent updates to the Law of Urban Leases in Spain clarify that purchasing a rented property does not grant the new owner the right to evict current tenants. This legislation underscores that the existing rental contract must be honored until its completion.
When a property is sold while it is still under lease, the new owner automatically assumes the rights and obligations of the previous landlord, as stated in Article 14 of the law. This means that even if ownership changes, the tenant retains the right to continue residing in the property without interruption.
However, there is a notable exception to this rule. After the first year of the lease, if the landlord is an individual, they may not be obligated to extend the contract if they wish to occupy the property for themselves or for close relatives, as specified in the law. This provision applies in cases such as divorce or legal separation.
For this exception to be valid, the Ministry of Housing indicates that specific clauses must be included in the rental agreement. If these clauses are absent, the new property owner cannot terminate the existing lease under this condition.
As real estate investment continues to be a favored option in the current market, understanding these legal protections is essential for both buyers and tenants. The implications of this law emphasize the importance of knowing one”s rights when entering into rental agreements or purchasing properties with existing tenants.
