Did you lose money on an unfinished off-plan property in Spain? If so, a legal remedy may be available…

      Those who bought an ‘off-plan’ property in Spain but did not in fact ever receive the completed property may after all have a legal remedy and obtain the return of any money paid as a deposit.

      Article 1 of Law 57/1968 regarding the receipt of advanced payments towards the construction and sale of residential property, clearly establishes the legal responsibility assumed by financial institutions in whose accounts the advance payments are lodged, where the said financial institutions failed to insist on an insurance guarantee or a deposit by the developer.

      This legislation obliges the financial institution, typically a bank,  to insist, at the time of the opening of the account, on verification that there is a deposit lodged by the construction company or alternatively insurance to cover any potential loss. If the bank fails to do so or if it proceeds to open the account knowing that such a deposit does not exist, the bank is liable for any financial loss suffered by the account holder ie the property investor who would have been the beneficiary of such insurance or deposit.

      Accordingly, if the property investor is unable to exercise their rights to receive the return of their money for failure to deliver the property as ordered, by virtue of the failure to have an insurance policy as required by law, then the bank in which the property investor’s money was held must rectify the loss.

      On this basis, if you bought an ‘off-plan’ property, and the property developer never completed the property, then if the developer has not returned to you the deposit monies that you paid over to the developer  or if you have won a court case against the developer already, but received nothing due to the developer’s insolvency, then you may be able to claim against the bank in which the deposit monies were held.

      We are assisting a number of client’s with similar claims, so let us know if you are in this situation and we shall review the matter to determine if you could make a successful claim.

      Client Testimonials

      Below is a list of recent reviews received from our clients, obtained via the Wufoo client survey platform:

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        Jason Yorke, United Kingdom
        Thursday, July 19, 2018
        Beatriz was really helpful and always kept me informed at all stages. She is very professional and a pleasure to deal with.
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        Mr David P Robson, Valancia
        Thursday, July 12, 2018
        My lawyer Francisca offered value for money and was very helpful. Will use her again.
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        Richard Day, London and Barcelona
        Thursday, July 05, 2018
        My initial call to your service desk was responded to by Oscar very quickly.

        I appreciated his time as I outlined my issue, a problem with the building community and administrators. At the end of ...the call he provided clear guidance on next steps.

        Furthermore he quickly turned around the issue with an excellent drafted response for which I could not of hoped to be better worded. It was comprehensive and aligned perfectly with what I felt was needed.

        Excellent value for money and most definitely I would highly recommend Oscar.
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        Søren Aabel Hammer, Malaga
        Thursday, July 05, 2018
        Beatriz was professional and quick to respond. Would definitely recommend to friends.
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        Patrick Crean, Almerimar
        Thursday, July 05, 2018
        Juan was fantastic. Very easy to understand and very pleasant. I would definitely use his service again.
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        Damien Stephan, Benidorm
        Thursday, July 05, 2018
        The whole process from start to finish was straightforward and well explained. I honestly cannot recommend them enough!

        They really went out of their way to be helpful and kept me up to date at ev...ery opportunity. Excellent value for money from some really nice and genuine people. True professionals.

        Wouldn’t hesitate to use again in the future.
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        Claire, Fuengirola
        Wednesday, July 04, 2018
        Alvaro assisted me during my experience at advocate abroad, and he was so kind. He answered any questions I had, and made me feel completely at ease.

        I knew I was in the hands of a professional. H...e could not have done more to help me.
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        Paul and Joyce Rose, Mijas, Malaga
        Wednesday, July 04, 2018
        Extremely helpful and very professional. Will definitely use Alvaro next time we require legal advice.
      • Default Avatar75
        Nigel Whinnett, Esher, UK
        Wednesday, July 04, 2018
        Professional, friendly, efficient service, good value, a pleasure to use the services of the lawyer and his team. In depth knowledge of the relevant laws, taxes etc.

        Would highly recommend and use ...again.
      • Default Avatar75
        Claire O'Gara, Fuengirola
        Wednesday, June 27, 2018
        I liked Alvaroós enthusiasm, and the great level of customer service. He always answered my questions thoroughly.
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        Mrs Susan Vickery, Silves, Portugal
        Tuesday, June 26, 2018
        Good advice, very helpful and fast. Would definitely recommend Luis to friends.
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        Niall Purdie, Barcelona
        Monday, June 25, 2018
        Anna helped me purchasing my house, she was knowledgeable and professional throughout. I would recommend using her legal services.
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        Kartik, Paris
        Friday, June 22, 2018
        Very satisfied with the service provided by Marianne. She speaks English fluently and she was very quick, comprehensive and clear in answering all the questions.
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        David Stack, Lliria, Spain
        Thursday, June 21, 2018
        Francisca was extremely helpful. She made the whole process easy to understand. I would definitely recommend her service to friends.
      • Default Avatar75
        Susanna Buckley, United Kingdom
        Wednesday, June 20, 2018
        Lidia is very approachable and friendly and I never felt that anything was a problem.

        She was also very sympathetic to my situation (my mother had passed away) and supportive. As soon as she was c...ontracted, she acted quickly to sort things out so that I could return home to the UK as soon as possible.

        She always tried her best to answer any questions very quickly and promptly and matters proceeded without too much worry on my part.
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        Wendy Dickson, Marbella
        Tuesday, June 19, 2018
        It was all done very quick. Very good value for money. How easy it all was to communicate via email.
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        Peter & Anita Bradshaw, Leeds, England
        Monday, June 18, 2018
        We could not be more happy with the service we received from Jaime.

        He responded immediately to our enquiry and it was clear from the outset that he fully understood our position. It was vital tha...t Jaime acted quickly in this matter and he did so in a highly professional and competent manner, providing us with clear and concise updates throughout.

        We found Jaime to be very polite and approachable and we believe his fees to be very reasonable. We would genuinely not hesitate to recommend his services.

        Before contacting Jaime, our previous experiences of Spanish Lawyers had been appalling - in fact we needed Jaime's help to resolve issues which previous Lawyers had created. Our only regret is not finding Jaime sooner!

        Thanks so much for all your help Jaime.
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        Dion Nash, Algarve
        Tuesday, June 05, 2018
        Our lawyer Luis is bilingual, and was extremely helpful. We received very good service - Luis did everything needed to help me with my case. I would definitely recommend him to friends.
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        Jan Neate, Nerja
        Wednesday, May 30, 2018
        Very satisfied with the service provided by Beatriz. She extremely helpful and spoke more or less fluent English. We would definitely recommend her to friends.
      • Default Avatar75
        Serena Bhatia, London
        Wednesday, May 30, 2018
        Anna has been nothing but helpful in providing information, sound advice and genuine care, My fiancé and I adore her! She is timely, professional and extremely knowledgeable about world wide law.
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        Ronald Peter Downs, Spain
        Tuesday, May 29, 2018
        A lady staff member took us under her wing and managed to sort out my residency. Overall no complaints.
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        Tracey and Mike Iliffe Bradley, Colchester, United Kingdom
        Tuesday, May 29, 2018
        From our very first contact through to the end of our purchase, Rosa surpassed all expectations.

        She was helpful, efficient, always quick to return our communications and a pleasure to deal with. ...We have already recommended her services to a friend.
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        Cheryl, Seville
        Monday, May 28, 2018
        Miguel was helpful and kind. We will use his service in the future.
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        Ken & Margaret, Torrevieja
        Thursday, May 24, 2018
        Pedro was extremely helpful, he couldn't have done more. We would definitely recommend his services to friends.
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        Rl, Alicante
        Thursday, May 24, 2018
        Felt very comfortable at all times. Nothing was too much. Understood everything mentioned in our meeting. Very reasonable rate, money wise.
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        KL, Valencia, Spain
        Wednesday, May 23, 2018
        Inma is easy to talk to, is prompt in replying to emails, is helpful and above all achieved the solution I wanted.
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        MF, Lanzarote
        Monday, May 21, 2018
        My lawyer Cristina was extremely understanding , friendly and reassuring. With Cristina on my side, it gave me confidence to continue.
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        RA, Paris
        Friday, May 18, 2018
        The service I needed wasn't complex, just verification of documents, but the service was rapid, friendly and exactly what I needed.My lawyer Julia was bilingual.
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        Sham Naib, Callao Salvaje, Tenerife
        Friday, May 18, 2018
        My lawyer Oliver was very helpful, always happy to assist. He professionally checked the law before dispensing advice.
      • Default Avatar75
        Smith, France
        Friday, May 18, 2018
        Caroline is bilingual and was very helpful throughout. There is nothing I would suggest to improve. I was very happy with the service and would definitely recommend to friends.

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