LEGAL INTREST

This topic contains 2 replies, has 2 voices, and was last updated by Anonymous 12 years, 10 months ago.

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May 16, 2006 at 7:46 pm #51819

Anonymous
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I am buying a property in Garrucha, which is ment to be finished this month. However it has not been started yet due to a legal battle between the builder and the local town hall office. we have been in touch with our solicitor, and are going through the process of sueing the builder. The solicitor has mentioned that i will be intitled to compensation on the completion of the build. he has said that i will be in titled also to Legal Intrest, from the time of submitting the claim. WHAT IS LEGAL INTREST.
May 16, 2006 at 8:02 pm #62193

Anonymous
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The Legal Interest is the interest that the spanish law states which is more or less 4% per year. So accorindg to you lawyer they will have to pay you this anual interest for the time delay.
In any case, you should contact your lawyer because you may have other options than to wait until this people finish the building

regards
picapleitos@gmail.com
May 17, 2006 at 11:06 pm #62230

Anonymous
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Thank very much for your reply, however on the legal intrest. what is this based on, is it money all aready paid or the value of property.

Regards Carl
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