Timeshares are something that have been around for decades and due to years of being largely unregulated, the industry became a target for unethical, immoral and illegal practices from individuals and organisations. Unfortunately, thousands of people have fallen victim to timeshare scams where they were pressured into signing, misled, lied to or have been trapped into illegal contracts – losing their hard earned money and being forced to continue to pay ever increasing maintenance fees.
For a long time there was little that could be done to help but due to the Timeshare Act and the Spanish Supreme Court’s landmark ruling in 2015, a legal precedent has been set which means that similar cases which follow must be treated in the same way as the ‘precedent case’. This has been good news for those with Spanish timeshare claims with an increasing amount of successful outcomes for those who have lost money.
The Timeshare Act
Although timeshares are something that have been sold across the world, a large percentage of them occurred in Spain where in 1998 the Spanish government introduced new legislation regarding the sales of timeshare products. On 5th January 1999, the new law (42/98) came into force ensuring that all timeshare products which were sold from then on were bound by the terms of the Timeshare Act which went a long way to strengthening the protection of consumers from unscrupulous dealings.
The most notable points from the Timeshare Act include;
- All contracts must be state a fixed term that cannot exceed 50 years
- No deposits can be taken during the cooling off period
- Contracts must contain the purchasers full cancellation rights
- The contract must specify the accommodation purchased with a set week and unit number
This means that any contracts that were signed after 5th January 1999 and breached the points above could possibly be deemed as null and void and result in money being owed to the purchaser.
Do You Have a Case For A Claim?
If any of the points above are relevant to your Spanish timeshare then there is a possibility that you could have a case to make a claim. There are a lot of non-solicitor firms and claims companies who promise big compensation but in reality, timeshare law is extremely complex and without the proper legal expertise these people are unlikely to be able to obtain a refund which means that owners are left with just another bill or fee for their services.
If you are unsure of whether or not you could have grounds to make a claim, then the timeshare specialists at Sarah Waddington Solicitors will be happy to help. We are always completely transparent with our clients and make no false or empty promises but instead provide real, practical and beneficial guidance and advice from the beginning and throughout.
If you have any questions or would like to book a free 30 minute consultation with a member of our team to talk through your timeshare contract, then please do not hesitate to get in touch.