Under Spanish law, there used to be an exceptionally long limitation period within which actions for breach of contract could be brought (15 years after the date the breach occurred).
From October this year, the limitation period for actions for breach of contract has been reduced to 5 years (Law 42/2015 modifying Law 1/2000 of Civil Procedure Code).
The change to the Spanish “statute of limitations” (a piece of national legislation setting out the maximum time limit within which legal proceedings have to be taken) brings the Spanish limitation period for breach of contract into line with that of England & Wales (usually 6 years for simple contracts, or 12 years if the contract was executed as a deed).
The time-bar period applicable to personal actions has been amended in order to create a fairer balance between the interests of the claimant and those of the defendant.
Accordingly, the limitation period for actions for breach of contract which arose before 7 October 2015 will still be 15 years, but 5 years for those arising after that date.