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This work analyses critically the sentence 48/2005 of the Supreme Constitutional Court of Spain. Its importance relies on the fact that this sentence is the first sentence where the Supreme Constitutional Court considers violated the constitutional right of private property and also it reduces to a more strict margins than the actual ones the institute of expropriation ope legis within Spain’s legal system. The new criterion of the «substantially equivalent protection» comes to revoke the existent doctrine of the Tribunal about legislative expropriations. But It is doubtfull that it can be interpreted as a change on the Tribunal’s view to a more protective reading of the right of private property. 412 FERNANDO REY MARTÍNEZ

El nuevo criterio de «la tutela materialmente "equivalente" en relación con las expropiaciones legislativas (La STC 48/2005)