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Litigation is a legal process involving the resolution of disputes through the court system. In Gibraltar, civil and criminal litigation encompasses a wide range of legal matters, from personal disputes to serious criminal charges. It is crucial to understand the distinctions between civil and criminal cases and the legal processes involved in each.

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Property Law Services in Gibraltar

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Strait Law has extensive experience in property law, making us well-equipped to handle a wide range of property matters. Our in-depth knowledge of Gibraltar’s legal landscape ensures that we provide accurate and reliable advice. Our dedicated team of professionals is committed to delivering high-quality legal services to our clients.

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In 2024, Gibraltar continues to offer attractive incentives for individuals seeking to relocate under its Category 2 status. This special tax status is designed for high-net-worth individuals, providing favourable tax conditions and enhancing Gibraltar’s appeal as a residential destination. Strait Law provides an expert overview of what Category 2 status entails and the implications for those considering this option.

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Buying Property in Gibraltar

Buying Property in Gibraltar

Buying property in Gibraltar is a significant decision with many legal and financial considerations. This blog provides insights into the market, outlines the legal framework, and discusses essential steps like financial planning and property valuation, aimed at helping buyers make well-informed decisions

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Redundancy and Your Rights as an Employee in Gibraltar

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Explore your rights and protections under Gibraltar’s redundancy laws with our comprehensive guide. Learn about the legal foundations, notification processes, fair selection criteria, redundancy pay calculations, and your rights to appeal. Ensure you’re well-informed and prepared if you face redundancy in Gibraltar

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Strait-Law,-advice-on-Buying-a-Property-in-Gibraltar.

Buying Property in Gibraltar

by | Sep 7, 2023 | Uncategorized

Buying Property in Gibraltar: Legal Considerations Every Buyer Should Know

Buying property is a significant milestone, and when it comes to buying property in Gibraltar, it is essential to be well-acquainted with Gibraltar property law to make informed decisions. In this guide, we delve into the legal considerations every prospective buyer should be aware of to navigate the property market successfully.

Understanding Gibraltar Property Law

Gibraltar has a unique legal landscape that governs property transactions. Understanding the nuances of Gibraltar property law can help you avoid potential pitfalls and ensure a smooth buying process. Here, we outline the key legal frameworks and considerations that play a pivotal role in property transactions.

Property Ownership Rights

In Gibraltar, property ownership can be either leasehold or freehold. It is crucial to understand the differences between these two to know exactly what you are buying.

  • Leasehold: Most properties in Gibraltar are sold on a leasehold basis, where you own the property for a predetermined number of years, decades or even centuries.
  • Freehold: This type of ownership is less common but means you own the property and the land it stands on outright.

Due Diligence

Conducting due diligence is a vital step in the buying process. It involves:

  • Property Inspection: Ensuring the property is in good condition and identifying any potential issues.
  • Title Search: Verifying the legal owner of the property and ensuring there are no disputes or encumbrances on the property.

Contract Drafting and Review

Once you decide on a property, the next step is contract drafting and review. It is advisable to work with a solicitor experienced in Gibraltar property law to draft or review your contract, ensuring it protects your interests.

Legal Considerations for Buying Property: Taxes and Fees

Buying property in Gibraltar involves various taxes and fees, including:

  • Stamp Duty: A tax levied on property transactions, with the rate depending on the property value.
  • Legal Fees: These are the fees payable to your solicitor for their services.

Securing a Mortgage

If you are considering financing your property purchase through a mortgage, it is essential to be aware of the legal implications and requirements involved in securing a mortgage in Gibraltar.

Final Thoughts

Buying property in Gibraltar is a significant investment, and being well-versed in the legal considerations can aid in making the process seamless. From understanding the different types of property ownership rights to being aware of the various taxes and fees involved, being informed is your first step towards a successful property purchase.

Are you considering buying property in Gibraltar and looking for legal guidance? Strait Law is here to assist you every step of the way. With expertise in Gibraltar property law, we can help you navigate the legal landscape with ease.

Contact us today at EMAIL: office@straitlaw.gi, PHONE: +350 200 66177 or fill in the form at: Strait Law Contact Us to get started on your property buying journey in Gibraltar.