Home News Legal Spanish Off-Plan Property Deposits Reclaim: All our clients have been able to recoup their money directly from the banks involved!

Spanish Off-Plan Property Deposits Reclaim: All our clients have been able to recoup their money directly from the banks involved!

6 min read

Dear Readers, clients and friends,

We wonder if you remember that a few months ago, we posted a few articles and testimonials, with regards to the landmark Supreme Court’s decision rendered in December 2015, that forced Spanish banks to return millions of Euros to EU consumers in failed building promotions. (http://englishsolicitorinspain.com/2018/02/13/another-great-success-achieved-by-ricor-solicitorsabogados-two-landmark-courts-judgments-rendered-by-the-alicante-and-murcia-courts-against-two-well-known-spanish-banks-w/)

The Spanish Supreme Court, – taking as a reference point the important 57/1968 Act, –set a new legal precedent, by ordering banks to refund all the deposits paid in advance by Buyers to developers, in order to buy off-plan properties in Spain that were never built.

The good news is that since then, we have been winning all the lawsuits against Spanish banks, and as a result, all our clients have been able to recover all their money back, lost as a result of a failed building promotion.

These are in essence some of the essential requirements in order to be able to submit a claim against the bank:

1º) The claim must be submitted against the bank that actually received the deposits from the buyers. It is irrelevant whether the bank actually opened (or not) a separate account for the deposits received.

2º) A previous or simultaneous claim against the developer (even if the builder has gone into liquidation) would be required.

3º) Lastly, the dwelling must NOT be physically or legally completed (i.e., lacking the license of first occupation).

How to claim

If you think you are eligible, you will need the following paperwork:
I. Private purchase contract signed with the developer.
II. Proof of payments made into the developer’s account. (i.e. bank transfers, etc)
III. Other supporting documents, such as email exchanges, letters before claims to the developer, etc

It is of the utmost importance that you act quickly because the deadline for claims is 7 October 2020.

“Ricor Abogados&Solicitors” has a strong legal team with proven extensive experience in all areas of law. We run a totally independent and honest Law Firm, helping clients across a range of legal services in Spain, from corporate and individual civil&criminal litigation, and we are proficient in conducting successful civil claims against developers and banks. Our high rate of success is subsequently explained by the fact that we continually provide complete and “home-made” tailored solutions both to individuals and businesses alike.
Therefore, should you be affected by such serious problem, don’t delay, as time is of the essence.

Please contact us and we will be most delighted to help you. If you kindly check our testimonials section of our websites www.englishsolicitorinspain.com or www.ricorabogados.com you will find plenty of testimonials from real clients who put their trust in our Firm.
All our clients are very grateful to our Firm for the excellent work and protection offered, which fills us with a lot of professional satisfaction and pride.

Thank you very much again for your attention and should you be affected by this serious problem (or by any other legal need or problem in Spain), please do not hesitate to contact our Firm and we will be delighted to help you.

We look forward to giving you a personalized service and the benefit of a high quality and cost-effective advice.
Yours sincerely,

Mr. Oscar Ricor Morales
“NON-PRACTISING ENGLISH SOLICITOR IN ENGLAND AND WALES”, under the “Solicitors Regulation Authority” (SRA) SRA number 519196 and practicing Spanish Solicitor.
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