Property litigation is our speciality
Over the past 20 years many foreign buyers have purchased property in Spain. Unfortunately during the times of boom and bust some suffered huge losses. Due to builders overextending themselves in many instances and the clients losing the money they paid. We can assist you with off-plan deposit claims.
For years there was no remedy to this when the constructor had disappeared or gone bankrupt. But then in 2015 a landmark ruling in the Supreme Tribunal of Spain changed everything. It referred back to Law 57/1968 of 27 July 1968 which stated that Banks and Insurance companies should have insisted on bank guarantees from constructors. They would be also considered jointly liable if a guarantee was not in place and the clients lost money.
A new law was passed at the beginning of 2016 limiting bank and insurance company liability from when the first construction licence was granted. Not from when the deposits were paid for the off-plan properties. However for those who lost their off-plan deposits before the new law was passed, and are within the time limitation of 15 years there is still an opportunity to recover the deposits. By suing the Bank with off-plan deposit claims due to this Supreme Court Judgement precedent.
We have handled many off-plan deposit claim cases with constructors such as Fortuna Golf, Trampolin Hills, Montepuchol and others. Please bear in mind that we will need documents. Such as the purchase contract, proof of payments, correspondence and possibly other documents. We have been very successful in these types of claims.
In addition we have had class actions relating to the Technologica building companies and clients who still do not have the deeds to their property, having paid outright. Also legal cases related to construction defect problems, problems with architects. Plus other tradesmen and sales of properties without proper licences to live there. If we can help with any off-plan deposit cases contact us.