Here at Timeshare Compensation, we hear from many timeshare owners that are worried about the fact that they are locked into ‘in perpetuity’ contracts. To be ‘in perpetuity’ means the contract has no end date and runs not only for your lifetime, but is then passed on to family members once you are no longer here. Many timeshare owners were not made aware of this fact at the time of signing up to their timeshare, while others agreed to this clause as they were made to believe they were making an investment for their family’s future.
We receive enquiries from both timeshare owners that have always been happy with their timeshare, as well as people already finding their timeshare a burden. Many of the timeshare owners who contact us are wanting to find out if there is anything that they can do to release themselves of their timeshare to prevent the risk of it being passed onto their loved ones when they die.
Luckily, there is something that can be done. Timeshare owners no longer have to put up with something just because they signed on the dotted line.
Spain has some of the strongest timeshare regulations in Europe. In December 1998, Spain passed the Timeshare Law 42/98, which was put in place to protect timeshare owners. This law came into effect January 1999, but despite this law, many timeshare companies and developers continued using the unethical selling methods they always had.
Timeshare owners who were aware of the law that was in place decided that it was time to fight back against the timeshare resorts and take them to court. Unfortunately, many of these cases failed. This all began to change in March 2015, when the Spanish Supreme Court in Madrid ruled on the first timeshare case that had been ongoing for 5 years. Once the Supreme Court ruled in favour of the claimant, it paved the way for many timeshare owners to put their cases forward and have successful results.
There are a variety of reasons that timeshare resorts and developers were taken to court, with one of the main reasons being ‘in perpetuity’ contracts. The Supreme Courts ruled that contracts containing a ‘perpetuity’ clause were illegal and all contracts have to be between 3 years and 50 years in length.
There were also instances where some cases were referred to Spain’s Highest Court and were ruled in favour of the claimant. This has further strengthened the law and been hugely beneficial to timeshare owners.
If you have a contract with a perpetuity clause, signed after 1999, it now means that you no longer have to feel that you are in a desperate situation. Even if you love going to your timeshare resort, it doesn’t mean that your family want to continue with the same holiday traditions that you have, nor wish to pay the annual maintenance fees to continue using it when they may prefer to holiday elsewhere.
If you signed your contract before 1999, it may be harder to achieve timeshare release, but not impossible. All our Advisors are experienced in all aspects of Spanish timeshare law and will be able to advise you on the best process for your individual case. Call us today on 0800 046 5855 to discuss your options.
See our recent post regarding unfair contract terms.