Limitation of actions
In today's post we are going to talk about the limitation period for actions, due to the entry into force on 7 October 2020 of Law 42/2015 of 5 October, which amended article 1964.2 of the Civil Code, which includes the limitation period for personal actions.
The aforementioned Law brought with it important modifications. In its first final provision, it modifies the aforementioned article 1964. In it is reduced the general limitation period for the exercise of personal actions that do not have a special limitation period, establishing a new period of five years, as opposed to the previous period of fifteen years.
The new time limit after the reform is as follows and several sections of the statute of limitations for actions can be distinguished:
FIRST SECTION. Actions arising from legal relationships arising between 7/10/2000 and 7/10/2005: in this case, the previous legal regime will remain in force and therefore, the period of FIFTEEN (15) years will be in force.
SECOND TRANCHE. Actions derived from legal relationships arising between 7/10/2005 and 7/10/2015: here the new 5-year prescription regime comes into play, with the statute of limitations expiring on 7/10/2020, so that FIVE (5) years will expire after the law comes into force.
THIRD AND FINAL SECTION. Actions deriving from legal relationships arising from 7/10/2015: in this case the new term that came into force with the reform applies, i.e. the limitation period of FIVE (5) years.
Therefore, as we can see, we must bear in mind the time when the obligation arose in order to be able to exercise the corresponding action in time. This is essential for our claim to be successful.
If you are thinking of initiating a claim in order to be able to exercise any type of action, do not hesitate to contact our lawyers specialised in claims. They will be delighted to help you.
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