More protection against evictions and COVID-19 measures

Automatic summary, not yet reviewed

1. Extends by four more years, until May 2024, the suspension of evictions of vulnerable people who lose their main home through a mortgage foreclosure. The suspension now applies no matter who is awarded the home, not only the creditor.
2. Expands the protected group: single-parent families with only one dependent child are now included, and the household income limit goes up, increasing per dependent child by 0.15 times the IPREMIPREM Indicador Público de Renta de Efectos Múltiples: a public income reference used in Spain to calculate benefits and income limits. for single-parent families or 0.10 times for other families.
3. Prevents SAREBSAREB Company created in 2012 to sell the real estate assets of bailed-out Spanish banks., the company that manages assets from bailed-out banks, from being dissolved for reducing its net worth below half of its share capital, so it can keep selling its assets normally.
4. Allows more existing financial entities (credit cooperatives, credit financial establishments, securities firms, payment entities and electronic money entities) to convert into banks, with minimum net worth of €18 million.
5. Allows the State to temporarily centralize the supply of medicines, medical devices and other products needed to protect health when there are exceptional supply difficulties.
6. Periods of isolation or illness due to COVID-19 are exceptionally treated as equivalent to a workplace accident for the purpose of receiving the temporary disability benefit from Social Security, for both self-employed and employed workers.

Who it affects

• People in situations of special vulnerability who lose their home through mortgage foreclosure: Can avoid eviction from their main home for four more years, with more situations now covered.
• SAREB, the asset management company from bank restructuring: Can keep operating and selling assets without risk of dissolution due to reduced net worth.
• Credit cooperatives, credit financial establishments, securities firms, payment entities and electronic money entities: Can apply for authorization as a bank if they meet the requirements, including €18 million in net worth.
• Self-employed and employed workers who must isolate or become ill from COVID-19: Will receive the temporary disability benefit as if it were a workplace accident.
• National health system and patients: The State can temporarily centralize their supply if there are supply difficulties.

Words worth knowing

Lanzamiento

Eviction from a home when a mortgage is foreclosed for non-payment.

IPREM

Indicador Público de Renta de Efectos Múltiples: a public income reference used in Spain to calculate benefits and income limits.

SAREB

Company created in 2012 to sell the real estate assets of bailed-out Spanish banks.

Incapacidad temporal

Temporary disability: sick leave that entitles a worker to a Social Security benefit.

Real decreto-ley

Royal decree-law: a rule with the force of law that the Government can pass urgently, without prior approval by Congress.

It summarizes the law as published in the BOE. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries