THERE are many people who have been adversely affected by timeshare in Spain and some want to know how to cancel them.
Generally speaking, individuals are unhappy with the annual costs they must pay especially because they were not properly informed about the likely expenses and costs in maintaining the property.
Anyone who has signed a timeshare contract should be aware that it is very possible that they can request cancellation and claim compensation.
Timeshare operations are currently regulated by Law 4/2012 and prior to that by Law 42/1998, with the latter being the one that applies to most the existing contracts and on which this article is based.
Why are most timeshare contracts likely to be null and void?
They are nullified because the majority – especially those signed years ago – do not respect the law which is very restrictive and protects the rights of consumer and may be annulled for the following reasons:
- The maximum length of contract according to Law 42/1998 is 50 years, so any that has a longer period is in breach of the law.
- Those contract which have the appearance of a different kind of contract in order to try to avoid the said laws.
- Those sold in breach of the information duties, neglecting to confirm details about the owner, developer, nature of the product, services and common premises of the building, company in charge of the administration, estimated average annual expenses, information about withdrawal rights and unilateral resolution etc.
- Contracts that do not contain the minimum content required by law. Contracts must include information on the nature of the rights and goods transmitted, exact description of the property, price to be paid annually, must include the articles 10, 11 and 12 of Law 42/98, duration, wording in the language chosen by the purchaser.
Who can complain? In principle, any affected person can claim provided they have the status of a consumer, even if they had purchased with the intention of obtaining incomes or profits, provided that they do not do this as part of their professional, business or usual activity.
How much can be claimed?
The contract could be claimed to be declared null and void and ask for the refund of the money paid, maintenance fees and expenses, although the amount to receive will also depend on the time in which the property was actually enjoyed or could be enjoyed by the consumer. In the event that deposits were paid within 10 days from the signing of the contract (in some cases these months), these funds must be paid back double according to article 11.2 of Law 42/98.
Cancellation of loans. It is also possible to request and obtain the cancellation of any loans granted to the purchasers for the acquisition of these products in some cases.
In this area of the Costa Blanca we want to highlight the court decision of the Appeal Court of Madrid number 461/2013, which canceled the contract signed with a company who sold timeshares in the complexes of Club Tarter, Riviera Club, Club Aldea del Mar, Club Marina Arpón, Club Twins 15, Club Novelty, Club Jardines Parisol and Club Ogisaka Garden.
If you are affected by this type of product of use by turn, timeshare, etc., contact us and we will help you.
The information provided in this article is not intended to be legal advice, but merely conveys general information related to legal issues.
Carlos Baos (Lawyer)
White & Baos
Tel:+34 966 426 185
E-mail: info@white-baos.com
White & Baos 2017 – All rights reserved
