If you contributed money to a cooperative or housing developer to buy your house off-plan, and now, after years, the house has not been built, YOU CAN GET YOUR MONEY BACK.
There are multiple variables to know which path to take to get your money back.
The first thing is to see if the cooperative or housing developer is in bankruptcy, as it is important when making a claim. Then we have to see if the cooperative or promoter had the amounts paid on account guaranteed or insured.
Law 57/1968 protects the home buyer who delivers amounts on account, forcing the developer or cooperative to have insurance that guarantees said amounts, so that if the work is not carried out, they can recover their money.
The usual thing in cooperatives has been that this insurance was with the insurers HCC EUROPE or ASEFA. In these cases, buyers can recover their money, since the insurer must return these amounts.
In this office we have recovered the money of more than five hundred cooperative members, from the Parque Príncipe Murcia, Parque Príncipe Cartagena, and Mirador de Mediterráneo cooperatives. In all these cases, some through extrajudicial agreements, and some through the corresponding judicial process, this firm has recovered the total investment with interest.
If you find yourself in this case, do not hesitate to contact us, you can get your money back.
It is also common that in many cases, the cooperative or promoter never contracted the insurance, but in this case, it can also recover its money, and the Supreme Court has established that the bank that received the money is also responsible for said amounts deposited in the special account, and this firm has extensive experience in negotiating with banks to return the full amounts with interest to buyers.
Do you need advice to recover your money given to a housing developer or cooperative? Call Us.
