Banks settling with properties

Thanks Maria.

 How does this tie in with the following statement then?:

"Any purchaser in possession of a Bank Guarantee where the developer has clearly defaulted on the contract is able to execute the Bank Guarantee in accordance with Ley 57/68, without the need for litigation."

Banks are forcing people to go to court, in full  knowledge that there is no swift  enforcement mechanism in place to protect the innocent purchaser, other than to litigate. It makes a nonsense of the Law as things stand.

This message was last edited by ads on 04/10/2011.

Dear Ads,

I wish you well on your search for the brave new world of common sense and simple justice for the citizens.

it is long long overdue.

unfortunately I think you will first have to get rid of the bewigged vultures that run the system.

the human rights act has not done it and is in discredit so we need a citzens justice act, where his/her interests are always paramount, the vultures are supposed to take this sort of thing into account...........equity.

I have recently been trying to understand the legal question of a simple right of way to avoid dispute.

I have purchased three law books on land and its transactions only to discover that this simple easement is so confused by even the most senior judges in the land, producing opposing conclusions...........and that of course after feeding themselves with prodigous amounts of human resources.

we have had posters who say the lawyer is unnecessary in Spain, simply make an agreement and take it down to the notary to effect.

is this a path for your question perhaps or does everything have to go through the ridiculous "ritual dance"?

Regards

Norman

Here's a good read:-

http://www.ft.com/cms/s/0/4a5b6900-e911-11e0-ac9c-00144feab49a.html#axzz1Zu8nuC4B

Although it's something we on EOS already know. Let's hope the November change of government has the predicted change in policy towards the banks!

Can you copy it in Sandra to save having to register?

Hi Ads

It is too much to paste it all here.

It is a 6 page pull out supplement in today's FT.

You can download a PDF version here - it is a 13MB download:

http://media.ft.com/cms/5684560c-ee4c-11e0-a2ed-00144feab49a.pdf

Kind regards

Keith

I saw no detail of monies owed to purchasers in that article ......... the educative process continues Keith!

No, nothing about money owed to victms of Spanish Bank Guarantee Abuse.

But I did notice that Maríano Rajoy - leader of the PP - and expected to be the next Prime Minister of Spain said:

He knows that his main task will be to reform the economy and restore confidence in Spain.

Well he can begin to restore the confidence in Spain by taking immediate action to resolve the Property Abuses that are still outstanding from the past 10 years.

He also said:

Spain will need an extraordinary effort and sacrifice by all to escape the situation in which we find ourselves.

Mr Zapatero said that he 'stands shoulder to shoulder with those who have had the wool pulled over their eyes in the property sector'.

Well standing shoulder to shoulder has not been good enough Mr Zapatero.  You and your Government have been all words and no action.  You have papered over the cracks, gone ahead with your ridiculous Property Road Show boasting transparency and legal security, yet done NOTHING to resolve the issues of the victims many of whom have had their lives destroyed by the corruption in your property market and banking system.

Mr Zapatero, Sra. Corredor, Sr Blanco - you have all failed us.  Please do not expect us to welcome you in London with open arms next week Sra. Corredor!

Maríano Rajoy, if elected as Spain's next Prime Minister, must immediately clean up the property sector, take action to resolve the property abuses, give more power to the Banco de España to make them an effective supervisor of the Banks and ensure that the Law relating to off-plan property purchases, LEY 57/68 is enforced in all cases both past and present.

Maríano Rajoy - your education into property abuses begins now.

Kind regards

Keith