Buyers beware of ‘land grab’ law threat
The quirky property development law applies to land in the popular Valencia region in the east of Spain, and the Department of Foreign Affairs is raising its legality with the Spanish Government.
The legislation allows property developers, who own over 50% of land in a given area, to oblige homeowners to sell them the actual land around their apartments or houses. The developer can then also force those home owners to pay the costs of the infrastructural development.
