The area affected is Valencia, much further to the south, where the Valencian authorities brought in the LRAU (land grab law), under an Urban Development Act . This act was originally brought in to generate a housing programme for low paid workers and aimed at foiling speculators who bought cheap scrubland and then gained huge profitrs when the land was declared as urbanisation land.

It has been reported (18/04/05) that following an investigation by MEP´s into this matter, the Spanish authorities have been given until next month to end the practice, which is considered to be in breach of EU laws on property ownership and infringes human rights or be brought before the European Courts of Justice where they may  face heavy fines.

The ruling is said to have opened the doors to those who have been affected by this law to claim compensation for their losses.

We also have available the services of an English speaking notary and accountant. Contact us by email for further details.

Call LandBank International for more information - all administration in English, by English speaking Bank Officials.