Spanish Property Deposit RefundBanks' Legal Obligations

Those who bought an ‘off-plan’ Spanish property but never in fact received the completed property may have a legal remedy to obtain the return of any deposit 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 deposit was 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.

Related Services

16 Lawyers Offering Unfinished Property Claim Services in Spain

Testimonials for our Unfinished Property Claim service
  • Steve Riley
    Steve Riley, Benidorm

    Buying a house in Spain was a daunting prospect but we had found the place and just needed to go for it!


    After a quick Google search for English speaking solicitors, I contacted Advocate Abroad, after speaking to someone for less than a minute I was told I would be contacted by their solicitor, Consuelo within the next couple of hours.


    My phone rang within minutes, it was Consuelo and she explained all I needed to know about the legal requirements prior to making a purchase and after an offer is accepted. She explained the differences between a private purchase and a company purchase, and gave us enough information in that initial phone call to put our minds at ease and helped us understand the Spanish house buying processes.


    Consuelo then went on to arrange our NIE numbers, make an appointment with the notary, dealt with the estate agents, acted as attorney with our bank, and completed most of the legal requirements within a three week period just before lockdown hit. Over the lockdown period Consuelo sorted out electric, water and taxes and explained everything clearly and precisely over email and WhatsApp. Once Spain relaxed it’s measures, Consuelo was quick to finalise everything, even met our Spanish friends to hand over keys and sent photos!


    The service provided is incomparable with our British conveyancing lawyers, (we truly did get a clearly explained, personal service at an excellent price!) and although everything after our offer had to be dealt with remotely with us back in England, there was no doubt we were being looked after fully and competently.


    I would not hesitate to recommend Advocate Abroad and I would certainly recommend you ask for the fantastic services from Consuelo!


    Aug 14, 2020
  • P.R. van Tol
    P.R. van Tol

    Francisca did a great job helping us with buying our new property. The price is absolute right. I can fully recommend her!


    Aug 05, 2020
  • Robert Bolton
    Robert Bolton, La Manga del Mar Menor

    We couldn't have asked for anyone better than Consuelo in helping us buy our apartment in La Manga. She guided us through the process either by email or phone and made sure that we fully understood everything. This of course gave us complete peace of mind.


    Consuelo is an extremely professional person but also very personable. We even had lock down to contend with but Consuelo always kept us updated. Excellent service!!


    Aug 04, 2020
  • Karen Webster
    Karen Webster, El Campello

    Consuelo went above and beyond expectations. We could not get to Spain to view the property we liked due to the COVID-19 travel ban so Consuelo viewed it on our behalf and sent videos.


    She went through the whole buying process on our behalf. Communication throughout was excellent. Consuelo kept us informed of every step and sent copies of all documentation. Considering the amount of work she did under very difficult circumstances the fee was very reasonable.


    Aug 01, 2020
  • Stelios Nousis
    Stelios Nousis

    Very attentive, fast response, professional and good results.


    Jul 31, 2020
  • Niklas Goeransson
    Niklas Goeransson, Barcelona

    We are very happy with our meeting with Oscar, very understanding and professional, and had smart solutions.


    Jul 21, 2020
  • Hanna Diamond
    Hanna Diamond, Barcelona

    Oscar was extremely responsive answering emails very quickly and he was patient in dealing with what was quite a sensitive and difficult situation relating to one of Advocate Abroad's former colleagues who had not been professional.


    I was very pleased with his work and would recommend him to anyone. I will certainly ask for his help again if ever the need arises.


    Jul 05, 2020
  • Ilona Barta
    Ilona Barta, Torrevieja

    Inma was extremely helpful: she responded promptly and kept us up dated during our case every day. She possesses great negotiation skills that led to success in our case. Great value for money for complicated issue. Inma also made us clear about Spanish legislations and law that was helpful.


    Approachable and highly professional. Can't express enough our gratitude. We will definitely recommend Inma.


    Great service.


    May 29, 2020
  • Ben Cuppello
    Ben Cuppello, Oviedo

    Miguel provided a faultless service throughout the purchase of our property in Oviedo.


    Always responsive, providing excellent advice and guidance and prepared to go above and beyond to help us on numerous occasions. I could not recommend him highly enough.


    May 27, 2020
  • Brian Berman
    Brian Berman, Oviedo

    We were very have happy with the level of service provided by Miguel, he went above and beyond to make sure that everything was understood by us and clear.


    Using him made us realise that buying aboard was not straight forward and with his help opened doors which we would have struggled with. He was always available to us day and night ( even at weekends) and would respond to any question with either the answer or information of how to get it. He kept us informed at each and ever stage of our purchase. He was a real gentleman and we were very proud and honoured to have met such a lovely man.


    He is a great example of how a person in his position should operate with his clients and we can not thank him enough.


    Mar 11, 2020
  • Chris Horne
    Chris Horne, Valencia

    Francisca is a highly professional and friendly lawyer based just outside of Valencia city that helped my wife and I purchase our property.


    Her English is excellent and her ability to communicate the Spanish legal requirements for a foreigner to purchase property in a clear and concise way is exceptional.


    I would have no hesitation in approaching her for other legal services myself and would recommend her to anyone.


    Feb 16, 2020
  • Simon Birch
    Simon Birch, Spain, Barcelona

    Having been in Barcelona for only six months, we ran into a problem with a local landlord and needed swift legal advice. I duly searched the internet and decided to plump for Advocate Abroad where upon I spoke to Oscar. Look no further. He was immediately courteous, polite, very understanding, and extremely professional. Above all, he was patient, listened precisely to what I had to say before he gave me his professional opinion of where I stood from a legal point of view. His command of the English language was faultless to the point where I felt that I could have been speaking to a native English speaker.


    As to the subject matter, within a 30 minute phone call I understood exactly where I stood from a Spanish legal point of view, acted accordingly, and the problem was successfully dealt with. And probably the nicest touch of all, once once the matter was resolved having followed his advice, and with no further advantage to either himself or Advocate Abroad, he had the courtesy and kindness to ring me personally to see how I had gone on.


    Thank you Oscar. Outstanding (not a word I use often) !!!


     


    Jan 17, 2020
  • Maria Castellon Perez
    Maria Castellon Perez , Vera

    Juan was very professional at all times and he help us with everything. He even went to pick me up from the airport do we didn't missed our appointment with the notaire.


    Juan was in contact with us constantly through face to face and wsup. I have no doubt we will use him again.


    Jan 15, 2020
  • Daniela Majstorovic
    Daniela Majstorovic, Valencia

    Inmaculada was very professional, very helpful and approachable , easy to communicate , pleasant,and her English is fluent.


    Dec 05, 2019
  • John Hipper
    John Hipper, Zaragoza

    Francisco was recommended to me by friends in Spain after they had a very positive experience with him. He was an excellent contact for me while I was in the process of buying a house in Spain.


    It was an overwhelming experience buying from Canada, particularly because of the language barrier and the time difference, but Francisco did a fantastic job of explaining to me everything about the forms, taxes and the local processes.


    He was helpful, friendly and informative. When I arrived in Spain to complete the purchase, I felt much more confident knowing that I had his advice and assistance, he even offered to help me fix a problem with my bank accounts when I didn't understand what was happening (language).


    I would have no hesitation using his services again and highly recommend him to anyone in need of his assistance. I was 100% happy.


    Dec 03, 2019
  • Natalie
    Natalie , Valencia

    Inma was extremely good at reassuring me with my anxieties regarding buying a property abroad. From the first point of contact I felt she was very trustworthy and this continued all the way to point of signing and beyond.


    I sent her so many emails with all my questions and she answered each one in good time and professionally. She was always on the end of the phone if I needed her and her English and patience was excellent! I would highly recommend this lawyer. We found her independently through Advocate Abroad and will absolutely use her services again!


    Nov 26, 2019
  • Sjors de Wildt
    Sjors de Wildt, Barcelona

    Oscar helped us through the process of buying our family home in Alella Barcelona. He advised and informed as well as reviewing the contracts and doing checks on liabilities, registrations etc.


    We are very happy with Oscars work. Easy to communicate with, available for questions and not shy to give you his opinion. Was a pleasure to work with you and we will make sure to stay in touch for any future legal advice we may need.


    Oct 30, 2019
  • Steven M
    Steven M, Valencia

    We recently completed a foreign real estate transaction which required us to seek legal counsel here in Spain. Not knowing where to turn we contacted myAdvocate Valencia who put us in touch with our lawyer Inma.


    She offered friendly, professional and flexible legal support during our stressful time, all while speaking perfect English, which further helped the situation. We are so glad to have met Inma and would use or recommend her services in the future. Five-stars!


    Oct 23, 2019
  • Daniel Stageman
    Daniel Stageman, El Campello

    Consuelo worked very hard and her fee was more than reasonable.


    Oct 02, 2019
  • Ashley Wilkins
    Ashley Wilkins, Murcia

    We were delighted with the level of responsiveness and service Inma provided. Our daughter has been accepted at UCAM to study Dentistry and consequently we were helping her set up life in Murcia.


    Inma was most helpful in the flat leasing process in the identification of Agents and in the Tenancy Agreement negotiation and execution after a property had been found. This together with her good general advice about how things work in Murcia and Spain have made the process far easier that would otherwise be the case. Inma was also very helpful in the NIE process.


    Bravo and we are delighted to recommend Inma as a first port of call in Murcia !

    Best wishes Ashley.


    Sep 18, 2019
  • Richard Day
    Richard Day, Barcelona

    Excellent customer service and good legal advice. Oscar always returns calls and messages promptly, even when he was on holiday! He is polite and patient.


    I am very happy with the services provided by Advocate Abroad and especially Oscars work. All at reasonable cost.


    Sep 17, 2019
  • Darrell Green
    Darrell Green, UK

    Inma was always available to answer any questions we had or obtained the information required. All of questions were answered promptly and anything we didn’t understand was explained.


    Inma is very friendly and approachable and we felt confident and assured with her professionalism.


    Sep 17, 2019
  • Leigh Hossbach
    Leigh Hossbach, Oviedo

    I would wholly recommend Miguel to anybody contemplating a house purchase in the Asturias area of Spain. His pricing was competitive and adapted to my particular requirements.


    He consulted with other professionals (including the council) to help determine the expansion and future building possibilities of the land. He also undertook the necessary checks to establish there was no outstanding debt tied to the property.


    Compared to UK solicitors Miguel was very much more approachable and would always respond to my queries and deliver frequent progress reports at any time of the day including weekends.


    Given the complexity of the Spanish notary system it is essential you have a local solicitor who knows all the variations associated with the Asturian conveyancing system to guide you towards a successful outcome.


    Even though I had a reasonable understanding of Spanish Miguel's excellent written and spoken English proved invaluable at all stages of the conveyancing process in particular the final signing of the deeds. Well done Miguel and many thanks for all your help!


    Aug 17, 2019
  • Peter Marsh
    Peter Marsh, Gandia

    In all departments Francisca was outstanding in every case!


    Aug 07, 2019
  • Joseph Lobo
    Joseph Lobo, Barcelona

    Oscar was a great help throughout a difficult process as we bought a house in Barcelona. Despite significant setbacks, he was able to help us find solutions to ensure we finally managed to purchase the property.


    Thank you to Oscar for being incredibly professional and for explaining everything in a straightforward way so we understood a process which was foreign to us. I highly recommend him as a lawyer for anyone looking to buy a property in Spain.


    Aug 01, 2019
  • Daphne Zargar
    Daphne Zargar, Detroit, USA

    Miguel was awesome! Super responsive, extended my knowledge and put me totally at ease through the process of buying a house in Galicia.


    I felt my interests were put first in the process and protected and would definitely recommend Miguel with full confidence.


    Jul 20, 2019
  • Sally Bircher
    Sally Bircher, Tenerife (Los Cristianos)

    I have recommended our lawyer Oliver to many people due to his professionalism and ability to communicate on all levels.


    Calls were always returned and questions always answered. Great value for money.


    Jul 16, 2019
  • Mark Fairley
    Mark Fairley, Gandia

    Francisca was extremely professional, great communication throughout the purchasing process.


    Phoned or emailed me to keep me updated and worked to a good timescale for completion. Prepared well for the notary and simplified the answers on any questions or issues that occurred.


    I would highly recommend Francisca for anyone from the U.K wishing to purchase property in Spain.


    She takes away any stress or fear that can happen from entering the unknown legal practice in Spain. I would definitely use Francisca again for legal service, on any future issue or purchasing of property.


    She provided good value for service and would be a future person to go to, for any expat in the Spanish community.


    Apr 30, 2019
  • Penny Toomey
    Penny Toomey, La Manga

    I could not recommend Consuelo highly enough to choose as a lawyer. She went above and beyond what was required when working for me.


    She is reliable, professional and kept me informed of the progress of my case and what she was doing at all times.


    Consuelo has an ethical outlook and a strong sense of what is right. She was unfazed when others tried to block her efforts to help me and was always reassuring that we would get there.


    Her spoken and written English is excellent so she can work with both English and Spanish (she did for me). Thank you Consuelo!


    Apr 16, 2019
  • John Seaman
    John Seaman, Valencia

    My lawyer was very supportive, interested in my needs, able to clarify my situation and explain the process and the various options open to me.


    I always felt relieved after each consultation. I will definitely use Inma’s services again


    Mar 21, 2019
  • Catherine
    Catherine, Alicante

    Consuelo was extremely helpful, she couldn't have done more. I would definitely recommend her to friends.


    Feb 15, 2019
  • Thom Koller
    Thom Koller, London

    Francisca provided a perfect service!


    She is professional, dedicated and took care to understand the needs of my situation. Her service offers exceptional value for money and gives complete peace of mind.


    Nov 05, 2018
  • David Edwards
    David Edwards, England

    Very Satisfied with the service provided by Oliver. He was quick, efficient and value for money. Would definitely recommend to friends.


    Oct 17, 2018
  • Andrew Morecroft
    Andrew Morecroft, Lubrin

    Juan was extremely helpful during every part of the purchase. As I was buying an older property there were slight complications but Juan explained every issue and managed to work through the difficulties with supreme efficiency.


    Also there was a ridiculous situation with my Spanish bank account where I could not access the money even though it was in the account. Thankfully I had given Juan power of attorney and he managed to sort-out the problem.


    He went above and beyond the call of duty and I am very grateful for all his help. I would strongly recommend him to anyone looking to buy in the Almeria region.


    Oct 15, 2018
  • David K
    David K, Barcelona

    Oscar was very kind, professional and fair. He was able to help me with my problem and he was very determined that he would.


    Oscar is very competent, polite and showed a lot of effort to solve my problem. I strongly recommend him.


    Sep 26, 2018
  • Darren & Gemma Nesbitt
    Darren & Gemma Nesbitt, Valencia

    Inmaculada has been of excellent service to us, as a family and in helping to set up a business in Spain. She has now undertaking several project for us and has delivered high quality on all of them. Perfect service!


    Sep 11, 2018
  • Teresa Valencia (Gandia)
    Teresa Valencia (Gandia)

    I'm very pleased with services I received. Buying a house from abroad is not an easy job and thanks to Francisca everything was clear.


    She's very efficient and I highly recommend her!


    Jul 26, 2018
  • Janet/Alex Olsen
    Janet/Alex Olsen, Newcastle

    Overall the service provided by Oliver was exceptional.


    My mother and I couldn't of asked for more from him as he sorted out our family affairs. His attitude, attention to detail and promptness while helping us were second to none.


    His English is top notch and his way of explaining and or guiding you through what needs to be done makes the whole experience easier than expected.


    We'd recommend Oliver to anyone in need of his expertise while dealing with issues in Tenerife.


    Jul 25, 2018
  • Mr David P Robson
    Mr David P Robson, Valancia

    My lawyer Francisca offered value for money and was very helpful. Will use her again.


    Jul 12, 2018
  • David Stack
    David Stack, Lliria, Spain

    Francisca was extremely helpful. She made the whole process easy to understand. I would definitely recommend her service to friends.


    Jun 21, 2018
  • Peter & Anita Bradshaw
    Peter & Anita Bradshaw, Leeds, England

    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 that 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.


    Jun 18, 2018
  • Ronald Peter Downs
    Ronald Peter Downs, Spain

    A lady staff member took us under her wing and managed to sort out my residency. Overall no complaints.


    May 29, 2018
  • Charles Wilson (Benidorm)
    Charles Wilson (Benidorm)

    Juan is simply the best. He has helped me so much. 100% recommend to any one thanks Juan!!!


    Apr 26, 2018
  • Larry Karns
    Larry Karns, Valencia

    Inma is a very approachable, open and knowledgeable professional.


    She is available to meet with us on short notice, is attentive to our needs, answers each of our questions fully and provides appropriate legal solutions.


    Inma is bilingual which has simplified communication and avoids misunderstandings. Her fees are definitely value for the money paid, and we will continue to seek her professional services.


    Jan 10, 2018
  • Colin Stuart Farmer
    Colin Stuart Farmer, UK

    Juan Ignacio met me in Almeria and with skill and persistence was able to deal with the eviction of a non paying tenant in a very short time, and avoided long and drawn out court processes.(The time factor was important because after gaining access it became apparent that the occupant was rapidly trashing the place.).


    At all times he maintained personal contact with continuous updates during the process.


    A great bloke, great job done and good value.

    Hopefully he can do the same for when I sell the place.


    Dec 15, 2017
  • Bjarne ten Harkel
    Bjarne ten Harkel, The Netherlands

    My lawyer Rossana is an honest person and highly professional. She is simpatico. I would definitely hire this lawyer again.


    Nov 22, 2017
  • Mark Wreford
    Mark Wreford, Espinosa de Los Monteros

    We liked everything about the service we received from Jaime: he was bilingual and he was so much more approachable than lawyers in the UK.


    Went the extra mile for us and helped us immensely...and a lovely guy too!


    Aug 15, 2017
  • S Watts
    S Watts, UK

    Inmaculada always responded promptly to all communications. Inma fully understood both my requirements and the relevant Spanish legal system. She offered good advice on both general and specific areas of business.


    Inma was clear about the potential costs involved in her services and I felt that these were great value for money. Extremely approachable and professional. I can not thank her enough.


    Jul 24, 2017
  • MW
    MW, Lledo, Spain

    I am very satisfied with the service provided by my lawyer.


    He was extremely helpful and I would definitely use the same lawyer again in the future.


    May 23, 2017
  • Gary Bradshaw
    Gary Bradshaw, England

    Made my life very easy and worth every bit of the money.


    Very experienced and always answered every question with ease , which made me very relaxed.


    Jan 05, 2017
  • Allan Pemberton
    Allan Pemberton, England

    Oliver is the best of the best. Nothing is too much trouble and always contactable. Always provides a very good service for very reasonable price.


    Friendly. Helpful. And a very nice person. Would recommend to anyone.


    Dec 21, 2016
  • John Bircher
    John Bircher, Tenerife

    Oliver was extremely helpful and easy to communicate with. He dealt with my matter with professionalism and confidence.


    His service was very good value for money and he explained the whole process from beginning to end.


    I would certainly use him again and recommend him to friends.


    Dec 13, 2016
  • Claire Lane
    Claire Lane, UK

    Inma was very helpful, made everything so easy and very patient with all my questions as I am a worrier.


    Couldn’t have asked for better service.


    Nov 08, 2016
  • John Drummond
    John Drummond, Tenerife

    Very good English in a situation that was new to us.


    Oliver was extremely helpful, he couldn’t have done more.


    Oct 27, 2016
  • VK
    VK, Cocentaina

    Juan is a fantastic lawyer. Extremely thorough. 100% committed to doing the best job he can for you.


    Very friendly but very professional in every way. Would highly recommend his services.


    Oct 30, 2015
  • M Strachan
    M Strachan, London

    My lawyer was very helpful, always happy to assist and was bilingual.


    I was very satisfied with the service and would definitely use the same lawyer again in the future.


    Jul 06, 2015
  • James Burnell
    James Burnell, Blackpool

    Perfect & more than able to sort any problems you may have. 100 out of 10!


    Jun 24, 2015
  • KRF
    KRF, Las Palmas

    My lawyer showed great attention to detail, was responsive and very professional.


    I will definitely use his services again.


    Jun 22, 2015
  • Joscelin Ryan
    Joscelin Ryan, Belgium/UK

    My Lawyer was extremely helpful and professional when having discussions on the telephone. When we met in person she was friendly and I really felt she wanted to help me and do her best for me.


    It has given me confidence after a difficult experience and I would have no hesitation to use her, and Advocate Abroad again. The service overall was exemplary.


    Feb 15, 2015
  • Adrienne Kardos-Farkas
    Adrienne Kardos-Farkas, Budapest

    I was very satisfied with the service provided by my lawyer. He spoke English more or less fluently and was always happy to assist wherever possible.


    He was very intelligent and provided a professional service. I would definitely use his services again.


    Jan 27, 2015
  • Eldina Sator Sahinovic
    Eldina Sator Sahinovic, Sydney

    I am very satisfied with the services provided. The firm was very responsive and dealt with my issue very capably.The legal solutions provided were very suitable and exactly what I was looking for, further the lawyer was very approachable and friendly.


    I would definitely use this lawyer again.


    Nov 17, 2014
  • Eldina Sator Sahinovic
    Eldina Sator Sahinovic, Sydney, Australia

    I am very satisfied with the services provided. The firm was very responsive and dealt with my issue very capably.


    The legal solutions provided were very suitable and exactly what I was looking for, further the lawyer was very approachable and friendly. I would definitely use this lawyer again.


    Nov 17, 2014
  • Eric Wagemans
    Eric Wagemans, Netherlands

    Our lawyer provided quick responses to all our questions in clear English, and we were even able to chat using skype!


    Very straightforward in explaining to us what to do, and what not to do, and clear about the consequences of our choices.

    She was very clear on fees. Flexible on hours. Also gave unasked but meaningful advise. A top trustworthy service for a very good price.


    Sep 09, 2014
  • Oliver Clarke
    Oliver Clarke, Dubai

    Our lawyer was bilingual and extremely helpful – he couldn’t have done more for us.


    We were very satisfied with the service provided and would definitely use this lawyer again in the future.


    Sep 04, 2014
  • Trevor Taylor
    Trevor Taylor, England

    I was put at my ease straight away, never hiring a Spanish lawyer before, I was cautious, but Francisco guided me through the process effortlessly.I thought my case would be tricky and I on my own would never have completed without him. He was a star.


    I have recommended him to some friends of mine who want to sell their business. As for value for money, he was spot on, and very approachable .Full marks from me.


    Aug 22, 2014
  • Dawn H
    Dawn H, Puerto Rico

    My lawyer was very helpful with our property purchase. He always replied to any questions extremely quickly and provided us with all the legal help, advice and documentation necessary.


    He explained the Spanish processes which are quite different from England.


    I would very happily recommend his services.


    Feb 11, 2014