For the majority of Timeshare, Points or Fractional owners who come to us for advice, the main concern is to find a way to get out of their Timeshare contracts and to rid themselves & their families of long-term maintenance fee liabilities - and we can of course offer advice purely on this basis.
However, recent legal judgments have triggered very significant changes throughout the Timeshare industry and it is very important that you understand your rights in light of these new legal precedents.
The most important precedent was set when Norwegian Tove Grimsbo successfully won her 6 year legal battle against the Spanish Timeshare operators Anfi Sales SL.
The Spanish Supreme Court ruled in favour of the case brought by Mrs Grimsbo, declaring the contract to be null & void and ordering Anfi to pay back the original purchase price and all annual maintenance fees, plus interest (a total of approximately 40,000 Euros). Anfi were also ordered to pay all Court costs.
This Judgment was based on two key legal tenets:
1. Cooling Off Period - It was proven that Anfi Sales SL had disregarded the legal requirement to provide a 14 day cooling off period, to allow the customer sufficient time to reflect on their purchase decision.
NB: This is one of the most common legal breaches upon which mis-selling claims are based, where the customer has been illegally required to pay a deposit or sign for finance within the 14 day cooling off period.
2. Contract Length - In this instance, the Court also found that the "in perpetuity" contract clearly breached the earlier Supreme Court ruling that no Timeshare contract signed after 5th January 1999 is allowed to stand for more than 50 years.
In addition, the Spanish Supreme Court has ruled that Timeshare contracts signed from 5th January 1999 must state the specific details of the unit/apartment and the dates/week(s) purchased. This has huge legal implications for contracts involving Points, Floating Weeks, Fractional Ownerships or "Vacation Club" membership - including those which came about as "upgrades" or "trade-ins".
Whilst this initial breakthrough judgment was brought against Anfi (Gran Canaria, Spain), it has been followed by similar judgments against other Timeshare Groups & Resorts and the legal precedents apply whichever Timeshare you own. So, based on the specifics of your Timeshare ownership, you may also qualify to claim that your contract is null & void and to seek a full repayment of the original purchase price, plus annual fees & interest - as well as getting yourself & your family out of your ongoing Timeshare liabilities.
To find out your best options based on your specific circumstances, please complete the short enquiry form or call one of our friendly expert advisors now on 0203 6704 616