Deposit Reclaim
Great news for all prospective buyers of property off plan
If you paid an amount as a reservation or advances and your subsequently did not receive the property in a completed state as per contracted, nor were the amounts paid returned to the prospective buyer:
The prospective buyer can:
Legally claim the return of said amounts to the bank in which the promoter opened a special bank account to receive funds from buyers.
Legislation obliged
Legislation obliged the developers of the properties to create a special account in a banking entity who would act as a depository and as guarantor of the funds that the promoter received.
That is, in the case of the developer, neither delivering the property nor returning the money received, for example for having failed to complete the property or properties, which has occurred in most cases, the bank will be responsible to refund in full the amounts paid by the buyers.
Therefore, we have the possibility of claiming from the bank the amounts that were paid by the buyer´s into the account of the promoter and were not returned to the buyer´s.
For sometime now, our Courts have been recognizing the obligation of the banking entity to return these amounts to buyers by issuing numerous judgments that condemn the banking entity to return them in full with interest.
It is very important
to act swiftly as deadline to submit these claims ends in October of this year, so that the affected people must submit the corresponding claim before this date. This could be the last chance go get your money back