Mortgages on illegal properties: is it Bank risponsable?

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30 Sep 2016 20:37 by mariadecastro Star rating in Algeciras (Cadiz). 9321 posts Send private message

Legal Questions? Speak to Maria Direct

A thinking after finding some excellent Court Decisions by Appeal Courts (Burgos is always great on protecting consumers rights of off plan buyers):

Nullity of sale due to lack of consent by the buyer as he did not know or knew wrongly on important features of the property BRINGS ATTACHED the nullity of the mortgage loan that the buyer took for that purchase.

Effects: According to Civil Code ( art. 1303) : effect of nullity is retroaction of contract exchanges to the moment previous to the signing of the contract: refund of all paid amounts plus legal interests



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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