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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tip 840. Murcia punishing Banks
17 October 2012 @ 20:30

 

New judgment declaring the responsibility as custodian of banks where off plan amounts were deposited while the building process, under  Article 1 second of  law 57/68;  this time by the Provincial Court of Murcia.

Such liability is defined as subsidiary to the developer´s and different to the guarantoor´s. 

Perhaps,  the most telling statement of the judgment is one in which it is stated that the obligation of custodians of deposits are:

"Legal obligations which makes these entities guardians of the existence of guarantees for the protection of interests of purchasers "

New era for banks coming!

Maria
 
 
 
En directo...
 
"En directo....", Tarifa, Cadiz, Southern Spain, by Chodaboy, at flickr.com
 


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1 Comments


Chris said:
17 October 2012 @ 22:17

Fantastic news!!The pressure on the banks is mounting, but what a shame it takes so much work and stress to get them to do the right thing!

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