Refusal of property keys back by the Bank

What if the Bank refuses to accept my property keys back?

Not the end of the story:

Monitor and oppose if:

(a) Your mortgage deeds have abusive clauses which can stop or void the repossession: anticipated maturity clause, lack of communication of the sale of the mortgage debt to a vulture fund, floor clause, IRPH…

(b) The enforcement procedure is being according to Law

(c) Value given to the property for auction is correct, mainly if Banks are respecting the minimums established by Law as a barrier for them not to bargain with mortgage debtor rights.

In most cases, your pending debt is below the value a Bank can repossess the property for, so it is for mutual benefit that an agreement is signed. Offer a prospective buyer—even for a very low price—and possibilities of a quick settlement will increase significantly.

There are always arguments before a standard denial by the Bank. Keep the fight up! And if you need a lawyer for this, please contact us

María Luisa de Castro

DIRECTOR

María founded CostaLuz Lawyers in 2006 and is the Firm’s Director. María is registered Lawyer number 2745 of the Cadiz Bar Association and is licensed to practice in all areas of law throughout Spain. Working closely with her team, María has developed the firm into one of the most highly regarded and trusted Spanish Law Firms acting for English speaking clients with legal problems in Spain.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top