The Spanish Off Plan property deposits reclaim
The
Spanish Off Plan property deposits reclaim
Reclaim
In a judgment issued on December 21, 2015, the Spanish Supreme Court has
declared that the banks are responsible, together with the real estate
developers, for returning the deposits paid (and deposited in bank accounts) by
the buyers of properties in Spain when said homes were not delivered to them in
due time.
According to Spanish legislation, builders and real estate developers who
received deposits from buyers for the purchase of homes had a legal obligation
to deposit them in a specific account and provide their customers with a bank
refund of amounts. The guarantor or insurance would then be responsible for
returning the deposits in case the developer did not deliver the property on
time.
In the times of the Spanish real estate bubble this obligation was not
fulfilled by the banks and by the builders and real estate developers.
When the Spanish real estate market collapsed in 2008, most of them went
bankrupt or simply disappeared leaving many constructions unfinished and
without returning the advances received. In this way, the buyers lost the
anticipated deposits.
The good news is that now the Sentence of the Supreme generates, finally,
the real and certain opportunity for justice to be done and for you to recover
your money.
The novelty of the sentence of the Supreme Court is that it declares that
the Banks are responsible for returning the money since they collaborated with
the promoters who fail to comply with the law and did not provide a return
insurance of amounts on account. The result is that the right to recover the
lost deposits is true and safe for those affected and the banks will have to
return the money plus the legal interest (but only to those who claim it in a
judicial process in Spain).
Claims are usually resolved between 1 year and a year and a half once
filed. During that time they will continue to generate the corresponding legal
interests from the delivery, which will be added to the amounts claimed.
The Spanish Supreme Court ruling is solid and
clear. It therefore cannot be contradicted by any
other private or public institution.
As a result, the
right to recover the deposits is
absolutely secure for anyone affected and financial institutions will have to
reimburse the deposit plus the legal interest (but only for those who make a
legal claim).
Contact us today for a
FREE CASE ANALYSIS, with NO obligation
We are a specialised legal service in Spain that damage individual
rights with economic consequences for them.
link
https://youtu.be/7iAi-jytFrQ
Ian Lincoln by Lexlegis Lawyers Phone 34 667044836 lexlegis@lexlegis.org Office Calle Camino Real, 17 1º B Yecla 30510
Murcia
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