Banks cannot sidestep their liabilities when not issuing individual warranties.Responsibility and claims against banks endorsing a general warranty instead of an individual warranty to each purchaser when returning amounts paid by the purchaser to the developer as per the Law 57/1968. RECLAMACIÓN Y RESPONSABILIDAD DE LOS BANCOS QUE OTORGARON UN AVAL GENERAL Y NO UNO INDIVIDUAL A CADA COMPRADOR SEGÚN LA LEY 57/1968, EN LA DEVOLUCIÓN DE LAS CANTIDADES ENTREGADAS POR LOS COMPRADORES AL PROMOTOR.

As is known by most home buyers and investors in Spain, Law 57/1968, of July 27th concerns ‘the sums of money given in advance for the construction and sale of properties for living purposes’ despite being a very brief Law, … Continue reading

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