Timeshare companies have never been slow to challenge in court rulings made against them. When all else fails they tie up owners in endless legal proceedings. As things stand today, if you have been mis-sold, lied too, or if you paid a deposit with a credit card during a legal defined cooling off period - your whole contract could be declared Null & Void and you could be liable for a full refund with compensation. If your contract is covered by the new Spanish legislation, we recommend that you act quickly and take advantage of the current ruling.
As part of this ruling the Supreme Court restated that if the Timeshare company took a deposit during the cooling off period - and most did - your contract might be declared Null and Void and you could be liable not only for a refund of money paid but also compensation. This ruling affects many Timeshare owners.
To find out if your contract falls under the terms of either section of this ruling you should speak to someone with expert knowledge, as soon as possible. Remember Timeshare companies are quick to slow down compensation claims by endless appeals. Lodging a claim while this ruling is current law is the only sensible thing to do.
On April 3rd 2015 the Supreme Court made another ruling with wide ranging implications for those with Timeshare contracts. The Court ruled Timeshare contracts written, after 1998, for terms longer than 50 years to be Null and Void.
This period of time and this duration of contract would cover many thousands of Timeshare agreements. This would seem a straightforward ruling, but legal discussion still exists around schemes pre-dating 1998.
On the 15th of January 2015 the Spanish Supreme Court ruled Timeshare floating weeks null and void. The crux of the ruling was that a floating week contract fails to state clearly the location and duration of property ownership.
For many timeshare owners the implications are horrendous: in effect the asset they own may be declared non-existent, meaning they can neither use nor sell their timeshare week.
This ruling's implications are very unpleasant if you own a floating week - a week without a fixed apartment or specific time in the calendar - your week could simply cease to exist.
Counter actions by at least one major Timeshare resort mean this could drag on for years, if a new round of legal challenges is mounted.
We strongly advise you to use the window of opportunity while it exists. Hesitating now plays into the hands of resorts willing to tie up claims in endless legal battles.
Timeshare Information Bureau is an independent advisory company that helps timeshare owners clearly understand their current options, depending on their individual situations.