Purchase off plan. Get your money back! (Almanzora Country Club, Valle de Calpe, Residencial la Via Denia)

Claim against the banks for money lost in Off Plan purchases from developers who breached contracts and failed to deliver properties, including those who had no bank guarantee for the deposit paid. For example: HUMA MEDIATERRANEO (Almanzora Country Club), GARDEMA DEVELOPMENTS S.L (Valle de Calpe), DETINSA, ( Residencial la Via, Denia), etc.

Just as we have been writing over the last 2 years, there exists a real and legal possibility to claim back the deposits paid for a property purchased ‘Off Plan’ but never built, by claiming against the banks for the lost money, even if they had not issued an individual bank guarantee, just as long as they have a general bank guarantee line approved. Or if there was no general bank guarantee line approved, the bank allowed the developer to open a special bank account to received money in advance from the purchasers and consumers, without making sure that the guarantees for the money were in place, all as per the Law 57/1968.

Now there are more and more court precedents in this regard such as the court order of June 2011 from the Provincial Audience of Valencia, court order from the Provincial Audience of Burgos of January 2013, court order of September 2012 from the Provincial Audience of Murcia, to name a few.

Our law firm, with the buyers affected in the complex VALLE DE CALPE ( from Gardema Developments SL), recently received a decision in our favour from the First Instance Denia Court, forcing BANCO POPULAR, to show and provide us with a copy of the bank guarantee line agreement for this complex. After analysing it, it is clear that Banco Popular undertook to provide a bank guarantee to the purchasers of this development, and therefore, we have started legal proceedings against Banco Popular.

Our office has also started or will start soon, court process against other banks on these bases, we want to highlight: legal action against BANKIA ( before Caja Madrid) for the Detinsa’s complex in Via Residencia in Denia, and against Banco Popular for the development of HUMA MEDITERRANEO in the complex of ALMANZORA COUNTRY CLUB.

If you lost your money in these or other off plan purchases, our law firm can help you.

The information provided in this article is not intended to be legal advice, but merely conveys general information related to legal issues.

White & Baos Lawyers.
Tel: +34 966 426 185
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