The statute that governs mortgage lending and the Land Registry in Spain was implemented 150 years ago.
It was enacted on February 8, 1861, in the reign of Isabel II, and formed the basis and foundation of the current real estate registry system.
Its enactment marked an important milestone in changing the Spanish legal system from a situation of an accumulation of stratified rules to the empirical processing of the regulations.
It allowed Spain to adapt to modern times in regulating property ownership and mercantile trade, favouring the creation of regional credit banks.
Monday, 20 July 2015