If you own a Timeshare in Spain the chances are you have received information from your resort about the recent laws and reclaim proceedings. With thousands of unhappy owners in the system where do you look to get true information and unbiased advice?
It is a given that the resorts will try to protect themselves from a barrage of possible claims, which could result in millions of euros in damage pay-outs awarded through the courts. It is a given that many rogue companies will pop up claiming to be able to help you.
But where does this leave you – the Timeshare Owner?
The consensus seems to be that the resorts selling timeshare in Perpetuity will be calling for a general meeting of all owners, in the hope of changing the club constitution to finally confirm with the laws that should have been in place since the timeshare Legislation was enforced in 1999.
Before you sign your rights away, know the facts!
There are three main points of contention:
The Duration of your contract: All contracts signed after 1999 should have reference to an end date. Contracts sold in Perpetuity after this date are null and void.
The specified ownership of your contract: All contracts signed after 1999 must state an apartment and week number that you own in order to fulfil the laws.
The Deposit payment against your contract: All contracts after 1999 must include a 14 day cooling off period, during which time no provisional payment can be made.
If your resort calls a general meeting, with the express reason being to amend these points within the club constitution, be cautious. You may be persuaded to sign a new agreement or contract, amending these clauses. Your ownership will become a lease which ends in 2049 and you would be signing away your right to any claim against being miss-sold.
Whatever your decision, we would always recommend you take time to ensure you have the information you need, from a reputable legal source. A translation of the full legislation can be found in English on our website: https://timeshareclaim.eu/spanish-legislation-42-1998-english
If you are in doubt about any aspect of your ownership, your rights, or how we can help, please contact us.
Our live chat offers an informal introduction, or if you prefer to talk to us directly our customer service team are on hand to offer help in a host of Languages.
The safest way to protect your investment is to know your rights.