Companies as buyers of off-plan housing

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There have been many people who have been trapped in the purchase of an off-plan property that was never delivered to them and who are now struggling to recover the sums of money that they paid to make this purchase. Justice has proved us right and the individuals affected by this situation are recovering their savings, but what happens to the buyers who made the purchase of a home as legal entities?

The work that Bufete Salmerón has been carrying out for hundreds of families to whom the banks are already returning more than 5 million euros invested in the purchase of new homes, is also opening the way for companies that are in the same situation.

Law 57/68, which protects off-plan homebuyers, and which was modified on 1 January this year by the new Insurance Law, speaks of buyers as consumers and users, of their protection in the purchase of residential and even seasonal housing and, in short, of situations in which there is no speculative purpose with the home that has been purchased.

In principle, this premise could lead one to suppose that those who purchase a new home as legal persons are excluded from the protection offered by this law. However, this is not the case, as shown by the pioneering judgement that our firm has recently obtained in which Banco Santander is obliged to return the amounts advanced by a company that had purchased a property in Dos Hermanas from a developer that went into insolvency proceedings. A success which, due to its relevance, has already made headlines in the media.

There are numerous situations in which, for tax, inheritance, organisational reasons, etc., it is not only legitimate but also advisable to purchase the property as a legal entity. In these cases, the company becomes just another consumer, but there are no more possibilities to speculate with the property than there would have been if the purchase had been made by a private individual. It is therefore advisable for the buyer to seek legal advice in order to make the purchase in the most suitable manner and form.


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