What Are the Rights of ” Tanteo y retracto”?
The rights of ” Tanteo y retracto” are preferential acquisition rights that allow the Generalitat Valenciana to acquire a property with priority over other potential buyers.
Previous Requirements for Property Sales
Until now, any person owning a property that had previously been acquired by a bank or investment fund through proceedings such as seizure, deed in lieu of payment, or foreclosure, was required to notify the Regional Ministry of Housing of the buyer’s details and the sale price.
They had to wait for an administrative resolution in which the Generalitat stated that it would not exercise these rights. This document was essential for executing the public deed, as the notary was obliged to refuse signing if the resolution was not provided.
Problems Arising from the Procedure
The main issue that arose in most cases was that the Land Registrar did not record this encumbrance or limitation in the nota simple (land registry extract) requested by individuals, which led to unpleasant surprises at the notary’s office.
Repeal of the Right of First Refusal: What Is Changing?
Since 1 June 2025, the Valencian Regional Government has abolished this requirement, reserving it only for public housing, better known as VPO, for which the seller must notify the provincial housing service of their intention to sell the property, the price and the people involved in the transaction.Implications for Property Owners and Buyers
It is expected that, just as occurred with the elimination of military authorization in most cases, this measure will help significantly reduce the transfer tax (ITP) and stamp duty (AJD), bringing the Valencian Community more in line with other, more competitive autonomous regions.
Conclusion: Towards a More Agile and Accessible Market
This announcement represents a step forward in removing barriers that have affected many property transactions.
