Recovering Moroccan Property Payments
In certain instances it is possible to recover Moroccan property payments, specifically on developments initiated by Spanish developers (there are a number of these along Morocco’s Mediterranean coastline to the north of the country), under Spain’s Ley 57/68.
SpanishReclaim.com is the first entity (and at time of writing currently the only only one) taking on recovery of payments made for Moroccon off-plan property where payments were made to Spanish banks. We currently have a number of cases working their way through the courts relating to incomplete Morrocan off-plan developments such as Residences du Soleil, Residential Saida, Tasa Saida and Le Jardin de Fleur.
The principal requirement is that the money for the purchase was transferred into a Spanish bank account. Toward that end it is important that your documentation relating to payments is clear and we can link the transfers to a Spanish bank.
It is advantageous if you have a Spanish Bank Guarantee, as this can greatly assist the application process (it is difficult for the Spanish Bank to claim that it did not have a duty of care to its client if it backed the developer with a Bank Guarantee.) It is irrelevant if the bank guarantee is out of date, the fact that it exists is enough to make the bank liable. If you are not sure what a Bank Guarantee is then look at our post – What is a Spanish Bank Guarantee?
To apply for a refund of your Moroccan property payments right now simply send an email with Your Name in the Subject Line to morocco@SpanishReclaim.com
You will receive an email with a brief questionnaire to fill in. Make sure to clear the applicable email address in your Spam Filter. This automated email address works 24/7 so you can get started right away.
If you haven’t received your questionnaire within 15 minutes just send an email to info@SpanishReclaim.com and we’ll send on a copy.