Deposit Reimbursement in SpainUpdated on Monday 18th April 2016
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Deposit reimbursement in Spain can be enforced by a legal professional and after the damaged party decides to take legal action to recover the specific amount. This can be done for sale/purchase agreements, for rentals or for deposits made as part of a company development.
If you are an individual or company in Spain that has made a deposit into a bank account for certain purposes and now want to obtain a complete refund of that amount, our lawyers in Spain can help you during the negotiation phase and, if needed, during the legal process for obtaining your debts.
Deposit recovery in Spain
The most common deposit recovery cases in Spain are those for renting a property. At the beginning of the tenancy the two parties agree upon a deposit that is to be made by the new tenant in order to rent the property. This amount will usually be one month’s rent and during the rental agreement the landlord is not allowed to change the value of the deposit.
Property deposits can also be made for real estate developments in Spain and, in the event that the project is not to be completed, the amount can be recovered. In case of sale/purchase agreements for property in Spain the buyer and the seller agree upon an amount for a deposit during the initial phases of the negotiation.
Special clauses in the sale/purchase agreement can be made for delays in the delivery of the property or if one of the parties fails to meet its contractual obligations. In these cases the deposit might no longer be recovered.
Our law firm in Spain can help you conclude any agreement and establish the contractual provisions for deposit reimbursement and the right to recover this amount.
Legal assistance for deposit reimbursement in Spain
Our lawyers in Spain can help you initiate legal action if a landlord or real estate developer refuses to pay the deposit reimbursement. In some cases tenants might have problems obtaining the amount initially deposited for the rent because the landlord claims that repairs need to be made to the property. The ground for this should be expressly established in the rental agreement and no deposit should be retained for purposes other than those agreed upon initially.
In case of delayed building works you can also ask for a deposit refund if the work is not completed on time or if the contractor stalls or tries to cancel the deposit reimbursement clause or even the contract.
You can contact our law firm in Spain for legal assistance and advice.