Recover your Off-Plan Stage Payments Back
Legal assistance to recover off-plan property deposits for expats and international buyers
Buying an off-plan property in Spain can involve significant financial risk if the developer fails to deliver the property. Spanish law, however, provides strong protection for buyers who paid stage payments for properties that were never completed or handed over.
At Pellicer & Heredia, our lawyers help clients recover advance payments made for off-plan properties when developers breach their contractual obligations. Even in situations where the developer has gone bankrupt or the project was never finished, Spanish law may allow you to reclaim the money directly
Recover your off-plan property payments with experienced property lawyers in Spain
We analyse your case, review the purchase and payment documentation, and take legal action against the responsible developer or bank to recover your deposits and the corresponding legal interest
Legal protection for off-plan buyers
A landmark ruling of the Supreme Court of Spain reinforced the protection provided by Law 57/1968. This legislation requires banks and financial institutions receiving buyers’ deposits for off-plan properties to ensure that those funds are protected by a bank guarantee or insurance policy. The court confirmed that banks share responsibility if they accepted advance payments without ensuring the existence of the legally required guarantee.
When you may be entitled to recover your money
You may have the right to claim a refund if:
- You paid stage payments for an off-plan property that was never completed.
- The developer failed to deliver the property within the agreed timeframe.
- The developer became insolvent or abandoned the project.
- The bank received the payments without providing the legally required bank guarantee.
In these situations, the financial institution that received the funds may be legally responsible for returning the full amount of the payments made.
What you can claim
Through legal action it may be possible to recover:
- The total amount of the advance payments made.
- The legal interest accrued since the payments were made.
- Additional legal costs where applicable.
Experienced lawyers in off-plan property claims
Our legal team has extensive experience representing national and international clients in off-plan property disputes in Spain. We have successfully recovered deposits for many buyers, particularly foreign investors who were affected by failed developments during the Spanish property crisis. We carefully analyse each case, review the documentation relating to the purchase and payments, and determine the most effective strategy to recover your funds.
Request a case evaluation
If you paid deposits for an off-plan property in Spain that was never delivered, you may still have the right to recover your money from the bank involved. Contact our legal team today for a feasibility study of your case and find out whether you can reclaim your off-plan stage payments in Spain.