Bank Disclosures
Thursday, March 3, 2011 @ 2:08 PM
This has just been printed in the Olive Press...the interesting part for those losing deposit money is in bold...not sufficient support yet for those of us without a bank guarantee but at least one step closer I think to getting the authorities to recognise that their bank SHOULD HAVE issue bank guarantees on all Property Purchase deposits anyway AND therefore owe us the money back. After all it is the banks who have their debt secured on the property that our deposits funded the development.
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.