LEY 57/68 - OFF PLAN PURCHASES

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13 May 2010 00:00 by Keith110 Star rating in the UK and I am lead.... 682 posts Send private message

Here is the Law - LEY 57/68, which relates to off-plan purchases, in English and Spanish.

Maria may correct me if I have made any errors in the translation...........!!

Kind regards


Keith
FINCA PARCS ACTION GROUP

www.fincaparcsactiongroup.com



LEY 57 / 1968

 

Article One - The legal and natural persons who promote the construction of homes, that are not of official protection, designed as a home for domicile or family residence with a permanent character or a seasonal residence, accidental or incidental and which seek to obtain deliveries of purchasers money before starting or during construction, must meet the following conditions:

First - To ensure the return of the payments made plus six percent annual interest, by means of Contract of Insurance granted with an Insurance Entity inscribed and authorized in the Record of the General Sub-department of Insurers or by means of a Bank Guarantee issued by an Entity inscribed in the Record of Banks and Bankers or Savings Banks, if the construction does not commence or complete for any reason by the agreed deadline.

Second - Depositing the sums advanced by purchasers through a Bank or Savings Bank, which must be deposited in Special Account, with separation from any other funds belonging to the promoter, which may only contain funds deposited for the construction of dwellings. For the opening of these accounts or deposits the Banking institution or Savings bank, under its responsibility, will demand the guarantee to which the previous condition refers.

Article Two - Contracts for the sale of the homes, referred to in the first article of this Law, which involve the payment of deposit funds to the Promoter must be expressly state:

a) The transferor is obliged to refund to the assignee of the sums received on account plus the six percent annual interest if construction is not commenced or completed within the agreed timeframe to be determined in the contract or if the Certificate of Habitability (Licence of First Occupation) is not granted.

b) Reference to the guarantee or insurance contract specified in the first condition of the previous article, with indication of the name of the guarantor or insurer.

c) Name of the Banking Institution or Savings Bank and details of the account where the deposit funds will be held as a result of the celebrated contract.


At the time of issuing the contract the grantor will issue to the grantee the above mentioned Guarantee Document which must cover all amounts paid towards the total price.


Article Three - Upon expiration of the period allowed if the construction and delivery of the dwelling has not taken place, the assignee may choose between the dissolution of the contract with repayment of the amounts paid in advance, plus the six percent annual interest, or give the assignor extended time and this period must be stated in an annex to the contract awarded, specifying the new period with the date of completion of construction and delivery of housing.

In insurance contract or an endorsement attached to the authentic evidence which did not credit the initiation of construction or delivery of housing will be enforceable for the purposes provided in Title XV of Book II of the Civil Procedure Act to require the insurer or guarantor delivery quantities to the assignee's right, in accordance with the provisions of this Act


Article Four – Once the Certificate of Occupancy is issued by the Provincial Delegation of the Ministry of Housing and given by the promoter of the housing to the buyer the rights guaranteed by the insurer or guarantor will be cancelled.

Article Five – It is a prerequisite that any propaganda and publicity material issued by the promoter for the sale of housing containing information on the levying of amounts on account prior to the initiation of construction or during construction must meet the requirements of this Act, and make explicit reference to the guarantor, as well as the Bank or Savings Bank Special Account in which they will deposit the amounts advanced. The above mentioned must be specified in the text of the advertising that takes place.

Article Six - Failure by the promoter to comply with the provisions of this Act will result in being fined per violation, which will be imposed under the rules laid down in LEY 49, 30th July 1959, subject to the jurisdiction of the Courts of Justice.
Failure of the developer to return to the purchaser all sums advanced, will result in violation of the provisions of Article I of this Act and shall consist of misconduct or crime punishable under articles 587, number three, and 535 of the current Penal Code, respectively, and will result in the imposition of the penalties of section 528 in its maximum degree.

Article Seven - The rights that the present Law grants to the grantees will be of an indisputable nature.

FINAL PROVISIONS

First - The Government is authorized to make a proposal to the Minister of Housing, and by decree, to identify the bodies of official character that are able provide sufficient guarantees and are exempt from the application of these rules.

Second - It authorizes the Ministers of Justice and Housing to dictate the supplementary provisions as they deem necessary for the development of this Law, which took effect the day following its publication in the Boletin Oficial del Estado.

ADDITIONAL PROVISION

The Government is authorized to make by decree, and within six months against the entry into force of this Act, adapt the same principles that may be of application to the communities and housing associations.


LEY 57 / 1968

 

Articulo primero – Las personas fisicas y juridicas que promuevan la construccion de viviendas que no sean de proteccion official, destinadas a domicilio o residencia familiar, con character permanente o bien a residencia de temporada, accidental o circunstancial y que pretendan obtener de los cesionarios entregas de dinero antes de iniciar la construccion o durante la misma, deberan cumplir las condiciones siguientes:

 

Primera - Garantizar la devolucion de las cantidades entregadas mas el seis por ciento de interes anual, mediante contrato de seguro otorgado con Entidad aseguradora inscrita y autorizada en el Registro de la Subdireccion General de Seguros o por aval solidario prestado por Entidad inscrita en el Registro de Bancos y Banqueros, o Caja de Ahorros, para el caso de que la construccion no se inicie o no llegue a buen fin por cualquier causa en el plazo convenido.

 

Segunda - Percibir las cantidades anticipadas por los adquirentes a traves de una Entidad bancaria o Caja de Ahorros, en las que habran de depositarse en cuenta especial, con separacion de cualquier otra clase de fondos pertenecientes al promotor y de las que unicamente podra disponer para las atenciones derivadas de la construccion de las viviendas.  Para la apertura de estas cuentas o depositos la Entidad bancaria o Caja de Ahorros, bajo su responsabilidad, exigira la garantia a que se refiere la condicion anterior.

 

Articulo segundo - En los contratos de cesion de las viviendas a que se refiere el articulo primero de esta disposicion en que se pacte la entrega al promotor de cantidades anticipadas debera hacerse constar expresamente:

 

a) Que el cedente se obliga a la devolucion al cesionario de las cantidades percibidas a cuenta mas el seis por ciento de interes anual en caso de que la construccion no se inicie o termine en los plazos convenidos que se determinen en el contrato, o no se obtenga la Cedula de Habitabilidad.

 

b) Referencia al aval o contrato de seguro especificados en la condicion primera del articulo anterior, con indicacion de la denominacion de la Entidad avalista o aseguradora.

 

c) Designacion de la Entidad bancaria o Caja de Ahorros y de la cuenta a traves de la cual se ha de hacer entrega por el adquirente de las cantidades que se hubiese comprometido anticipar como consecuencia del contrato celebrado.

 

En el momento del otorgamiento del contrato el cedente hara entrega al cesionario de documento que acredite la garantia, referida e individualizada a las cantidades que han de ser anticipadas a cuenta del precio.

 

Articulo tercero - Expirado el plazo de iniciacion de las obras o de entrega de la vivienda sin que una u otra hubiesen tenido lugar, el cesionario podra optar entre la rescision del contrato con devolucion de las cantidades entregadas a cuenta, incrementadas con el seis por ciento de interes anual, o conceder al cedente prorroga, que se hara constar en una clausula adicional del contrato otorgado, especificando el nuevo periodo con la fecha de terminacion de la construccion y entrega de la vivienda.

 

En contrato de seguro o el aval unido al documento fehaciente en que se credite la no iniciacion de las obras o entrega de la vivienda tendra caracter ejecutivo a los efectos prevenidos en el titulo XV del libro II de la Ley de Enjuiciamiento Civil, para exigir al asegurador o avalista la entrega de las cantidades a que el cesionario tuviera derecho, de acuerdo con lo establecido en esta Ley.

 

Lo dispuesto en los dos parrafos anteriores se entiende sin perjuicio de los demas derechos que puedan corresponder al cesionario con arreglo a la legislacion vigente.

 

Articulo cuarto – Expedida la cedula de habitabilidad por la Delegacion Provincial del Ministerio de la Vivienda y acreditada por el promotor la entrega de la vivienda al comprador se canceleran las garantias otorgadas por la Entidad aseguradora o avalista.

 

Articulo quinto – Ser a requisito indispensable para la propaganda y publicidad de la cesion de viviendas mediante la percepcion de cantidades a cuenta con anterioridad a la iniciacion de las obras o durante el periodo de construccion, que se haga constar en las mismas que el promotor ajustara su actuacion y contratacion al cumplimiento de los requisitos establecidos en la presente Ley; haciendo mencion expresa de la Entidad garante, asi como de las Bancarias o Cajas de Ahorro en las que habran de ingresarse las cantidades anticipadas en cuenta especial. Dichos extremos se especificaran en el texto de la publicidad que se realice.

 

Articulo sexto – El incumplimiento por el promoter de lo dispuesto en esta Ley sera sancionado con una multa por cada infraccion, que sera impuesta conforme a las normas previstas en la Ley cuarenta y nueve/mil novecientos cincuenta y nueve, de treinta de Julio, de Orden Publico, sin perjuicio de la competencia de los Tribunales de Justica.

La no devolucion por el promotor al adquirente de la totalidad de las cantidades anticipadas, con infraccion de lo dispuesto en el articulo primero de la presente Ley, sera constitutivo de falta o delito sancionados en los articulos quinientos ochenta y siete, numero tres, y quinientos treinta y cinco del vigente Codigo Penal, respectivamente, imponiendose las penas del articulo quinientos veintiocho en su grado maximo.

 

Articulo septimo – Los derechos que la presente Ley otorga a los cesionarios tendran el caracter de irrenunciables.

 

DISPOSICIONES FINALES

 

Primera – Se autoriza al Gobierno para que a propuesta del Ministro de la Vivienda, y mediante Decreto, determine los Organismos de caracter oficial que, por ofrecer suficiente garantia, se exceptuen de la aplicacion de las anteriores normas.

 

Segunda – Se autoriza a los Ministros de Justica y Vivienda para que dicten las disposiciones complementarias que estimen necesarias para el desarrollo de la presente Ley, que comenzara a regir el dia de su publicacion en el Boletin Oficial del Estado.

 

DISPOSICION ADICIONAL

 

Se autoriza al Gobierno para que por Decreto, y en el plazo de seis meses a contra desde la entrada en vigor de la presente Ley, adapte los principios de la misma que pudieren serles de aplicacion a las comunidades y cooperativas de Viviendas.

 

 




 



_______________________

LEY 57/1968
CLICK HERE FOR THE BANK GUARANTEES IN SPAIN WEBSITE

       
      

fpag@btinternet.com




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13 May 2010 16:49 by sandra Star rating in . 776 posts Send private message

sandra´s avatar

So why are we all having to take legal action?

It seems the only people to benefit  by the passing of these laws have been  the developers/banks/lawyers etc.,who  used  them as a marketing tool.

I.e., to get purchasers to part with their money.

There must be  legal terms for this behaviour  and 'incredible' isn't one of them!!!


 



This message was last edited by sandra on 13/05/2010.

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13 May 2010 19:55 by Keith110 Star rating in the UK and I am lead.... 682 posts Send private message

Sandra

We have to take legal action to ensure the Law is upheld.  The Banks will never admit voluntarily to any wrong doing.

LEY 57/68 was passed in 1968 by Francisco Franco.

You are correct that many of the Developers, Agents, Banks and Lawyers have for years ignored the demands of LEY 57/68.  They ALL have a liability.

I would say the legal terms that can be used to describe the conduct of all parties who failed to act in accordance with LEY 57/68 is.........

GROSSLY NEGLIGENT

LACK OF PROFESSIONAL DUE DILLIGENCE

COMPLICIT

At some point a Judge will be forced to find a Bank liable under LEY 57/68.

Once that precedent is set, then it should make other Banks who are guilty of the same offences take notice.

We must never give up the fight - that is what they want us to do!!!  They are very good at trying to wear us down................

Kind regards

Keith
FINCA PARCS ACTION GROUP

www.fincaparcsactiongroup.com



  



_______________________

LEY 57/1968
CLICK HERE FOR THE BANK GUARANTEES IN SPAIN WEBSITE

       
      

fpag@btinternet.com




Like 0      
27 May 2010 12:20 by steverichmond Star rating. 36 posts Send private message

Keith

You may be interested to know that we are one of a group who were buying apartments on a development called Ribera Nueva in Murcia. The properties were not completed, there was an irregularity with the planning consent (easily rectifiable though) and the developer went bust. Most purcahsers had bank guarantees (from CCM bank) for their 40% deposits.

We have experienced considerable inconcistancy in the way in which our claims have been dealt with by the bank who provided the guarantees. Not helped by CCM failing and being taken under the wing of the Bank of Spain approx 16 months ago (to be subsequently taken over by Cajastur who are now looking rather dodgy also). Some purchasers were offered settlements, others won in court. We are one of two who lost our cases (it happens that these two cases were heard in the same court on approximately similar dates and different reasons were given for the judgement being awarded in the bank's favour). However our case went to appeal in April and we currently await the verdict.

If that verdict goes in our favour it might be very useful to you. I will advise you of the outcome.

Chris 





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