There is an exception to every rule: the Belgian legislator has in fact provided that certain deposits can benefit from temporarily higher protection than the famous 100,000 euros.
First scenario, deposits directly related to the purchase or sale of real estate. They are protected up to 500,000 euros. But beware, there are conditions, as specified by the SPF Finances:
- “Lhe term ‘private residential property’ refers to real estate which is used, was used or will be used as the main residence of the depositor. Secondary residences, commercial buildings, land, etc. are therefore excluded.“
- There is a time limit, since this additional coverage by the Guarantee Fund applies “for a period of six months following the amount has been credited to the account or from when such deposits can be legally transferred “.
- Other important details:the buyer (or seller) must hold the account on which the deposits are placed” et “in the case of a purchase, the signing of the sales agreement must at least be effective. A simple offer or intention to purchase is not enough“.
Second scenario which paves the way for protection of up to 500,000 euros: “Deposits which are directly linked to particular events in the life of a depositor and which result from capital and interest payments following retirement, death excluding inheritance, dismissal or disability“.
And finally, third scenario“Deposits belonging to natural persons resulting from the payment of insurance benefits, as well as the payment of compensation awarded to victims of criminal offenses or miscarriages of justice, regardless of the nature of the damage“.
