Prolacon in San Juan de los Terreros

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This topic contains 1 reply, has 2 voices, and was last updated by Profile photo of katy katy 9 years, 10 months ago.

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  • #52611
    Profile photo of Anonymous
    Anonymous
    Participant

    I have been told that under Spanish property law if someone has paid more than 50% towards a new property then they cannot lose their money should the builder go insolvent/bankrupt – does anyone out there know if this is correct ? and what happens if you have paid 50% ?

  • #68990
    Profile photo of katy
    katy
    Spectator

    I don’t think this is true, I think you can lose everything here (would be happy to be corrected though). during the last recession a friend bought a house and was faced with the prospect of having to purchase it again from a bank who had foreclosed on the builder. 🙁

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