How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask José M. Your Own Question

José M.
José M., Attorney
Category: Spain Law
Satisfied Customers: 5864
Experience:  Spanish Attorney
54639574
Type Your Spain Law Question Here...
José M. is online now

We are about to enter into an Option Agreement sale

Resolved Question:

We are about to enter into an Option Agreement for the sale of a property . 10% now from the Option Taker which if he fails to exercise his option we can retain . However the draft also states that if we as Option Givers fail to deliver then he gets back his 10% deposit plus compensation equal to that amount . We never agreed this but are told that it is absolute Spanish Law and cannot be changed to say " all the Option Takers legal costs etc "
The proposed agreement is written under Spanish Law
Submitted: 1 year ago.
Category: Spain Law
Customer: replied 1 year ago.
We are told that this compensation amount is compulsory and that it has to be within the Option Agreement even tho it was never agreed ....
Expert:  José M. replied 1 year ago.
Hi there, José m. spanish atorney
Spanish law says that in case we take some deposit in a contract, until it ends, the seller could keep it if buyer broke the contract and in the same line, the buyer has the right to demand the duble of the deposit from the seller if the seller broke the contract
So, even when your contract do not say so, if you give a deposit, you ca lose it if you broke the deal, but you have the right to get it back in double if the seller broke the contract
Thank you
Please write if you need more help, if not, I gently ask for a good rate of the service. Its important for me.
Have a good day
José M., Attorney
Category: Spain Law
Satisfied Customers: 5864
Experience: Spanish Attorney
José M. and other Spain Law Specialists are ready to help you
Customer: replied 1 year ago.
I understand this now. Thank you . HOWEVER if the Option Agreement states that the compensation payable by the Option Giver is say " 25% of the deposit paid by the Option Taker " if not delivered , does this then take precedent over the Spanish Law of an amount equal to the deposit already paid ? In other words does Spanish Law only apply if the Option Agreement is silent about what Compensation is payable by the Option Giver in the event of non delivery ?
Customer: replied 1 year ago.
I understand that the deposit paid would be refundable , but my query is about the amount of additional compensation
Expert:  José M. replied 1 year ago.
Hi there
The law says that the parts have same rights and riskes
So, if the risk is to lose 25 per cent of the deposit, the right is to get the same value, I mean, 125 per cent
The risk has to be always the same to both parts, in all cases
Thank you
Customer: replied 1 year ago.
Thank you
Expert:  José M. replied 1 year ago.
Thank you. Have a good day
Customer: replied 1 year ago.
So if there is to be a change in the terms of the Agreement ( which says that any changes must be in writing ) , then can this be done simply by email , or do both parties need to actually sign ?
Expert:  José M. replied 1 year ago.
Better if done it into a new contract accepted and signed for both parts but if you got mails propossing and they accep new changes, the changes could be probed at court if needed and perfectly valid
Thank you

What Customers are Saying:

 
 
 
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H.
< Previous | Next >
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H.
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
 
 
 

Meet The Experts:

 
 
 
  • José M.

    José M.

    Attorney

    Satisfied Customers:

    303
    Spanish Attorney
< Previous | Next >
  • http://ww2.justanswer.com/uploads/JO/JoseMagadan/2013-6-27_16279_IMG6290copia.64x64.JPG José M.'s Avatar

    José M.

    Attorney

    Satisfied Customers:

    303
    Spanish Attorney
  • http://ww2.justanswer.com/uploads/RA/ratioscripta/2012-6-13_2955_foto3.64x64.jpg Ely's Avatar

    Ely

    Attorney

    Satisfied Customers:

    6
    Private practice with experience in common law, civil law, international family law, and international contracts.
  • http://ww2.justanswer.com/uploads/MS/MsAM/2012-6-9_16426_anna.64x64.jpeg Anna's Avatar

    Anna

    Teacher, writer, biologist

    Satisfied Customers:

    270
    Great research skills, variety of work experiences, teaching experience.
  • http://ww2.justanswer.com/uploads/PD/pdheslin/2012-6-6_232056_pambig.64x64.jpg pdheslin's Avatar

    pdheslin

    Consultant

    Satisfied Customers:

    51
    20+ years of internet site creation and search engine optimization. Dozens of search tools at my disposal.
  • http://ww2.justanswer.com/uploads/BL/blueflowers1063/2013-10-10_35834_KimHolidays1.64x64.jpg Kim D.'s Avatar

    Kim D.

    Consultant

    Satisfied Customers:

    27
    Researcher 20+yrs in small and large institutions
  • http://ww2.justanswer.com/uploads/NU/nursescare4u/2013-3-31_03429_JApic.64x64.jpg findinganswers's Avatar

    findinganswers

    Internet Researcher

    Satisfied Customers:

    22
    Internet Researcher, Nurse for over 17 years, and can find answers for you!
 
 
 

Related Spain Law Questions