If yours timeshare contracts are considered illegal, you may be able to cancel it and reclaim all your money back. You are entitled to claim double the amount of any payment you made within 14 days of signing the timeshare contract.
Certain Spanish timeshare contracts entered into after 5th January 1999 are illegal and you can claim a compensation for your case!
In 1994 the European Parliament approved the directive that obliged all its members to regulate timeshare. In Spain, this was done through law 42/98 of the 15th December. The basis of this law was to protect your rights and, among many other things, it regulates the content and information the contract must have when you are buying timeshare.
In 2015, a decision of the Spanish Supreme Court ruled to annul timeshare contracts that have not taken some of these issues into consideration.
After the Supreme Court decision of 2015, all the contracts that have not taken these three most important issues into consideration are annulled.
Find Out If You Qualify To Claim!
Contracts sold in perpetuity
Article 3. Duration.
The duration of the system shall be between three to fifty years from the date of registration of the legal system or the date of the registration of the building as finished.
Therefore if the building was built before 1998, the 50 years will start in 1998 and if the building was built after 1998, the 50 years will commence when the construction has been registered as finished.
How do you know that your contract is a perpetuity contract?
The law states that the finalization date must be clearly stated on the contract. If your contract does not contain an end date, it is a perpetuity contract and you are able to claim!
Floating Weeks system
Article 9. Minimum content of the contract.
Express reference to the real personal nature of the right transferred. What have you bought, which date, what money has to be paid. Etc..
Your contract should clearly specify which apartment and which week number you have agreed to buy. If this information is not stated you are entitled to a full refund.
Article 11. Prohibition on advance payments.
Any Advance payments made by the buyer to the seller before the deadline for exercising the option to withdraw, or whilst the buyer retains the power to terminate the contract as cited in the previous article, are prohibited.