Home News Legal Recovering Off-Plan deposits from banks: 100% success rate so far. Deadline for claims October 2020

Recovering Off-Plan deposits from banks: 100% success rate so far. Deadline for claims October 2020

4 min read

Dear readers,

After years of protracted legal ordeal, stress and suffering, homebuyers who were affected by the Spanish property market crisis, are finally recovering the money they paid for holiday homes that were never built.

A landmark ruling in Spain’s supreme court in December 21st 2015 (STS 5263/2015) – taking as a reference point the important 57/1968 Act, – has allowed since then thousands of victims to claim directly from the banks rather than builders or developers, who went into liquidation.

The “ratio decidendi” of the landmark Supreme Court’s Judgment can be summarized as follows:

1º) The claim must be submitted against the bank that actually received the deposits from the buyers, irrespective from the fact that the bank actually opened (or not) a separate account for the deposits received. (see the Supreme Court decision, 16th January 2015. No Rec. 2336/2013)

2º) The bank will still be responsible even if the developer failed to issue bank guarantee certificates to the buyers in accordance to the Spanish Act 57/68.

3º) The property must NOT be physically or legally completed (i.e, without license of first occupation).

In fact, we have successfully helped many innocent buyers to recover their money back.

How to claim

If you believe you are eligible, you will need to forward us the following paperwork:

a) Private purchase agreement signed with the developer.
b) Proof of payments made into the developer’s account. (i.e. bank transfers, etc)
c) Other supporting documents, such as email exchanges, letters before claims to the developer, etc

Remember that time is of the essence, because after 7 October 2020, it will be too late to submit new claims.

Therefore, in conclusion, should you need independent and reliable legal advice on claiming your deposit back (or for any other legal matter), please kindly visit our website www.bestsolicitorsinspain.com and we will be glad to assist you in a timely manner.

At BZN Lex, we are trained to handle your situation, which will help ensure that your case is properly dealt with, which in the end will guarantee that the outcome will be in your favor.

Thank you very much for your attention, and we look forward to offer you the benefit of our “know-how”.

Mr. Beuzón

Doctor in Law

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