In October of this year the deadline to claim many debts and obligations will end, producing on that date a massive prescription of debts.

The reason for the expiration of the terms is in the reform of the Civil Code produced in the year 2015. Until then, the general term to claim debts or obligations that did not have a specific term, It was from 15 years.

Nevertheless, in the year 2015 the term of 15 years was drastically reduced, and since then, the general rule is 5 years.

This new regulation, also introduced a transitional period for which those debts or obligations that had arisen prior to the 7 October 2015, Your claim period will end on next 7 October 2020.

Said period may be extended as long as the state of alarm and its extensions last, but for legal certainty it is not advisable to extend this period, except in very exceptional cases.

Arrival of this date, among other, the possibility of claiming for responsibilities derived from a sales contract will end (for example the claim of construction defects to the promoters). Also the claims derived from the breach of contracts (defaults, the resolution action for non-compliance, that of defective performance or claim for damages, for example), and in general, those of all debts or obligations that do not have a specific limitation period.

Thus, We recommend that you review your contracts as soon as possible, as well as those unpaid or pending defaults, well not to initiate claim procedures, arrived in October the actions will have prescribed, and they will no longer be able to claim in the future. Nevertheless, there is the possibility of interrupting the deadlines and that the 5 years compute again, still without legal claim.

Our Procedural Law Department is at your disposal to analyze the status of your contracts and adopt the measures that allow you to claim or interrupt the deadlines so as not to harm your rights..