LEY 57/1968 is a short but very important Law which was implemented in the Public Interest on 27 July 1968 specifically to safeguard purchasers deposits paid in good faith to developers for off-plan properties.

The preamble of the Law explains clearly the reasons for its implementation.

The preamble states that there was justified public alarm at the fact that repeated abuses had been taking place with regards to off-plan deposits.  It says the abuses which were obvious criminal acts had a serious disruption of social life, constituted a serious alteration of the social coexistence and caused irreparable damage to trust and good faith.  It says LEY 57/68 was being introduced in the Public Interest to create general preventative standards to ensure the real and effective protection of funds paid in advance by purchasers and to ensure they received a refund in the event that the house building did not take effect.

It appears that 40 years after LEY 57/68 was implemented we are experiencing the same 'repeated abuses' and 'obvious criminal acts'  We now have the exact same situation of a 'serious disruption of social life' which unfortunately for many innocent purchasers has again caused 'irreparable damage to trust and good faith'.

This is a serious public order matter that the Spanish Authorities must tackle immediately.

LEY 57/68 is very clear and provides absolute protection for the purchaser.

It is not LEY 57/68 that has failed.

The failure is that of the authorities whose duty it was to uphold the rule of Law.  Shame on them.

Before making a decision or taking any action with regards to your personal situation we must strongly advise that
you take independent legal advice.