DID YOU LOSE YOUR DEPOSIT WHEN YOU BOUGHT YOUR PROPERTY OFF PLAN IN COSTA BLANCA AREA?
NOW YOU COULD RECOVER YOUR MONEY
If you bought a property off plan in Spain which was not finished, because the builder or the property developer went to bankrupt, you could get your money back now.
The Spanish High Court, in its judgment of 21 st of December 733/ 2015 stated the liability of BANKS, obliging them to pay the buyers their money back. The Spanish High Court has stated: ( …) ” Banks are responsible of giving the money back to the buyers. ( …)
According to the afore mentioned resolution, those buyers who paid a deposit to buy a property off plan, which was not finished by the property developer, they could recover the money paid, even the builder went to bankrupt.
The reason given by the Spanish High Court is BANKS had the obligation of opening an “special account linked with a bank guarantee, according to the Law 57/ 1968 27 th of July. Banks should deposit the money paid by the buyers in that special account in order to guarantee the money back to the buyers in case their properties were not finally finished by the builder.
However, as banks did not accomplish to the Law 57/ 1968, they are responsible to pay the money back to the buyers, according to the Spanish High Court judgment.
Our property lawyers will advise you about the documents you need in order to claim your money back. Our office is based in Costa Blanca area, Playa Flamenca, Orihuela Costa and Torrevieja.
For further information, please contact us through the phone number below or either by e mail address.
Lourdes Fernandez, Partner, Abogada at Fernández Abogados-Lawyers
Lawyer based in Orihuela Costa – Torrevieja, Costa Blanca.
Email: lourdes@fernandezabogados.es
Phone: 0034 966730264
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