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Property Deposit Reclaim In Spain

I am one of the many people who put a deposit on an off plan property in Spain, only to find several years on that I had no property and a very tough fight on my hands to reclaim my deposit. I have joined together with others on the same development who are in a similar situation and together we are working with Spanish Lawyers to take appropriate legal action. Some of the group members simply don't want their property now because it was not what it was supposed to be in the first place (like facilities were not put in place that were promised at the time they paid their deposits). This blog gives snippets of our journey and presents some key lessons learnt. We hope for a positive outcome some day, in fact some have had their money back already! The rest of our group are now taking action. We have learnt a lot of lessons along the way as to how to get your money back (and avoid having the lawyer take most of it from you on success!).

Bank Disclosures
03 March 2011

Bank Disclosures a Good Sign for Spain

FINALLY some good news for British property owners in Spain.
The Junta de Andalucia has announced that it is tackling the large number of properties in the region that have been built illegally and legalising properties where possible.
In some cases a minimum licence will be issued allowing the property to remain even if it is not incorporated into the town plan.

The Spanish government has also reformed the Criminal Code, which means tougher penalties for town planning crimes.

Public officials will now face hefty punishments for allowing any illegal properties to be built and will have to pay any costs incurred to restore the land to its original state.
In addition, all purchasers, whose properties have fallen through, will have the right to demand refunds from banks that guaranteed the construction of their home.
In the past, a number of banks had found ways to avoid paying.

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