Jardin de la Fleur- Your help / mis-adviced

[angie4peter]

Ownership/Title

I have recived the following from my solicitor and would appraciate any comments:



In respect of the latest letter sent by Property Logic in connection with the RT and VVT plots, please find below my comments on it.

The Property is a free hold property, and the clients will acquire a full title on it.
This new law intends to avoid having properties emptied all the year, so they are introducing a formula which is 70/30. Where the 70% will be desirable to be let out with the possibility of the owner to use the property for up ten weeks a year.
The other 30% will be exempted; however it is not clear the apportionment that will be carried out.
There is no obligation to comply with this law, as the property is a free hold property, however a number of tax benefits will be introduced in order to incentive those who wish to enter into the system to let the property out.
It would be vital that the management company is fully controlled by us or people that we trust in order to avoid having any problems in the future
Finally, the cost of running the communal areas is not clear, and once again it would be important to start looking into it as soon as completion approaches.

 

[just-alex]

Could someone please clarify, after looking at the master plan of the development, if there are any apartments anywhere on the whole site which do not have to be rented out under Moroccan Law?

 

[The Soup Dragon]

My understanding is that the restrictions apply to the touristic apartment plots (RT) but not the AP apartments.

 

[TimRawlins]

Does anyone know what has happened with the status of the Magnum plots? They were originally going to be RT plots, but I wonder if these have yet changed to the RIT status and how owners are getting on if they don't want to rent out?

 

[TimRawlins]

does anyone know if the RT status did eventually change to RIT status?

 

[SaidiaSpy]

This past weekend the first of the Magnum (RT1) apartments built by Fadesa (GFM) were handed over to their owners. They were told the RT stipulation no longer applies. I hope they got that in writing.

The handover was to a Spanish pressure-group of about 20 owners who came to an arrangement with GFM.

This waiving of the RT issue is the first to have been done - and it was by GFM. No other developers have delivered anything.

Buyer beware: we all now know that GFM's words are lies. Proceed with caution.