NEW! Supreme Court and no mortgage in off plan businesses
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Legal tip 1013. NEW! Supreme Court and lack of mortgage possibilities
27 August 2013 @ 18:33
Recent Court Decission by the Spain Supreme Court has established that a cancellation of the off plan contract operates if delay by the builder brought the building period to reach the financial crisis and therefore mortgage was not granted to the buyer.
Principles substaining this decission are those of "contract good faith" and "basis for the business", being this as the group of circunstances that impede the obtention of the result intended with the legal act.
_______________________
Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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