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In common with many countries all around the world, the Spanish property market is suffering a major downturn and as a result many Spanish banks are repossessing properties. Put simply, a home repossession (or bank repossession) in Spain is a property where the owner has taken out a mortgage on the property and has not kept up with the agreed monthly payment to the lender (the bank) in which case the Spanish bank has seized or taken back the property (know as repossessing it).