Today I am referring to Law 42/98 and to contracts signed between the 5th January 1999 and the 17th March 2012. I have received lately many questions about which Courts should know about which contracts. Questions such as:
Read MoreTip 1. Are you selling your Timeshare?
If you are planning to sell your Timeshare please have in mind these tips:
- Research. Search online to read what others have written about the selling company. Investigate to see if the company has a physical office, not just a mail drop address.
- Never wire money. Wiring money for a business transaction or upfront fees should raise a red flag. It is the same as sending cash – it is not traceable or refundable.
- Legal advice. As selling a timeshare is a legal property transaction, it may pay to get legal advice. Make sure you have all documentation in writing from the company.
Why POINTS should be affected by the Supreme Court ruling about FLOATING?
The recent judgment of the Supreme Court dated 15 January (number 830/2015. Appeal 3190/2012) has established case law when states in its Decision, second paragraph, that "in the legal regime established by Law 42/1998, of December 15, on timeshare rights, lack of determination in the contract of the accommodation to which it relates determines the nullity of that contract, as provided in Article 1.7 in connection with 9.1.3 of the Act."
Read MoreFloating Contracts also considered null and void by the Supreme Court!!
Today I've learned of a new Supreme Court ruling that may be of great importance for many timeshare consumers.
The judgment was issued on the 15th of January 2015 with number 830/2015, cassation appeal number 3190/2012, and studies the case of a floating contract.
It says in its "Fundamento de Derecho Cuarto" the following:
Read MoreMore about Spanish Supreme Court's decision declaring Timeshare Contracts in Perpetuity NULL & VOID
The importance of this Supreme Court decision is HUGE. In Spain access to the Supreme Court is very very limited. Only claims for more than 600.000 euros may have access. In other cases for the claimant to have access, he/she needs to show that there is real legal interest, for instance, that there is a real need of a unified interpretation about a controversial legal point that perhaps has been decided in different ways before. In this case the Supreme Court judgements have the effect to interpret the law and how has to be applied by the other Courts (First Instance courts and Courts of Appeal, etc). The Supreme Court has pointed the way that has to be followed by lower courts.
Read MoreBREAKING NEWS! The Supreme Court declares null and void contracts in perpetuity
The Supreme Court in Spain has declared, in an unprecedented decision, that any contract signed in perpetuity should be considered null and void. The contract had to be signed after the entrance into effect of Law 42/98 (that was the 5th of January 1999)...
Read MoreAre you an Anfi Member? Have you paid any money within the following three months of signing the Contract?
Perhaps you might be interested to know that the Las Palmas Court of Appeal, Section 5, has stated on multiple judgments that any advanced payment done before the end of the cooling off period involves the payment of twice the amount paid, if the contract is declared null . If it is not, the refunded amount will be exactly the same that was paid in advance.
Read MoreApplicable law to timeshare contracts currently in force.
In Spain there are currently at least three specific legal regulations applicable to timeshare contracts in force today, these are:
Consequently, contracts signed between the 5th of January 1999 and the 17th of March 2012, will follow Law 42/98, whereas those contracts signed between the 18th March and the 7th July 2012 has to follow the Royal Decree-Law, being Law 4/2012 for contracts signed after the 8th July 2012.
Fresh alert over timeshare cash scam by the Daily Express
TIMESHARE owners are being warned to be on their guard against dodgy firms which claim they can sell holiday-property shares or win compensation for previous timeshare resale scams, if they make an upfront payment.
Jennifer Conway, who has a Marbella timeshare that she has never visited but costs her £200 a year, was targeted by one such firm.
Read MoreAbout Advertising and pre-contractual information, Spanish Timeshare Law, nº 4/12 (Articles 7 to 10)
I will summarize, article by article, what the Law says about it.
Article 7 is about Advertising. It says that any advertisement or offer, as well as any commercial communication, has to clearly state where the consumers can obtain the pre-contractual information required under this Law. So information has to be upfront from the beginning.
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