We had
until a few years back, experienced long periods of what was commonly known as
the second property boom. Besides
criminal and domestic affairs, Spanish lawyers were inundated with work. Their potential clients were buying off plan,
on plan and even no plan properties.
Then, the crisis was suddenly upon us and the need to employ legal assistance
dried up for a while.
During this
period, attorneys were still making a decent living, most reverting back to the
type of cases that they had graduated from various universities to perform. With the slump in the property market there
was now a glut of unfinished, unpaid for and even illegal properties on the
market.
Many of the
promoters and builders eventually disappeared. Some were to commence building in other
countries. Others went underground for a
while. Several went bankrupt, only to
start up again with new companies. Only
the minority, ended up in the courts.
The dreadful
news, that many purchasers were not going to obtain the properties, which were
rightfully theirs, brought back the queues to the doors of the same lawyers who
had acted for them in the past. They
would now be responsible for presiding over the claims to be put into the courts. This, in order to try to recoup the massive
payments made on the same properties, which they had assisted their clients to
purchase in the first place. These
dwellings had either not been allotted to the rightful owners, completed, or were
about to be embargoed by the banks. For
these very reasons, it has been a no lose situation for lawyers in Spain.
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