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Off-Plan Property Deposits Reclaims

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September 27, 2016

Buyers who purchased their an off-plan property in Spain and who were left empty-handed when the developers went out of business may now qualify for a refund. Up to 250,000 foreign investors who lost money when the Spanish property market collapsed are now in line for a payout. The average compensation is around €30,000.

RECLAIM REQUIREMENTS

  1. The property was not completed within the timeframe outlined in the contract.
  2. The “licence of first occupation” (licencia de Primera ocupación) must not have been issued (or issued but after the completion deadline).
  3. The first deposit needs to have been paid no more than 15 years before the date of lodging the claim.

In all instances it is important to keep in mind that one can make a claim only once so it needs to be done correctly, there are no second chances. As your lawyers, it is our job to give you maximum support and given our extensive expertise in litigation claims and court proceedings, we’ll gladly assist you to reclaim your money back.

To ask for a free consultation simply submit the form on the left and one of our advisors will get in touch with you shortly!

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