A new Spanish Law enacted on 7th October 2015 reduced the general term established to file lawsuits from 15 to 5 years. Below is a list of legal actions, credits and contracts affected by this new expiry date.
(1) Claims dated prior to 7th October 2000 expired on 7th October 2015.
(2) For legal relationships dated between 7th October 2000 and 7th October, the previos 15 years applies.
(3) Credit and contracts dated between 7th October 2005 and 7th October 2015, will be definitively expired next 7th October 2020.
(4) The new 5 years term will definitively applies to all debts, contracts and legal actions dated after 7th October 2015.
What claims might be affected by this new law?
- Any kind of breach of contract
- Disputes arising from the completion of a purchase/sale contract
- Recovery of deposits on non built properties
- Defective contract compliance
- Claims against the community of owners
- Non-payment of community fees claims
- Rent review and update disagreements.
- Many others
What can you do to protect your legal rights?
- Get started an out of court claim by sending a letter
- Try to reach an out of court settlement
- Reaching an agreement with the debtor by signing acknowledgment of debt
- You may consider taking legal action before the expiry date