The recent ruling of the Supreme Court, corroborating that previously issued by the Provincial Court of Madrid, represents the first major setback for vulture funds in Spain. For the first time, this fund will have to sell the homes they received as a gift from the Madrid City Council, then led by Mayor Ana Botella, at the same purchase price, around €68,000. That is, the citizens who lived in said homes – in this first sentence there are four families – will be able to reacquire them, revoking the scam that that operation represented for 1,800 families.
This ruling could represent a historic change in the future of public housing policy in Madrid institutions, but also in the rest of the national territory. The proliferation of investment funds under Socimi legislation, with family branches very close to the Aznar family, have taken advantage of very lax tax legislation, causing, through practices of dubious legality, the expulsion of vulnerable tenants with the approval of governed administrations. by the PP, but also by the media and, until today, by a large part of the judiciary.
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