The most common issue timeshare owners face is getting out of their contract and ridding themselves of maintenance fee liabilities they must pay over the long-term. This is a problem we deal with regularly and are more than happy to offer advice purely on this subject and on timeshare claims.
However, in light of a recent court judgement passed in Europe, the timeshare industry is set to undergo massive changes, which may be beneficial for owners looking to escape their contract. In fact, there is a chance that timeshare owners are due compensation due to the nature of their contract.
The case in question involved Norwegian national Tove Grimsbo and Spanish timeshare firm Anfi Sales SL. After a long six-year case, the Spanish Supreme Court ruled in favour of Grimsbo, voiding and nullifying her contract with the timeshare company.
As a result, Anfi Sales SL were required to pay back the entirety of the original purchase price of the timeshare, along with all annual maintenance fee liabilities, interest fees (which added up to around €40,000), and all court costs.
The court came to the ruling for the following reasons:
Misuse of Cooling Off Period – It was found that Anfi Sales SL failed to meet legal requirements relating to the mandatory cooling off period, which is the time provided to buyers after buying the timeshare where they can decide on keeping it or not.
Illegal Contract Length – As the contract provided by Anfi Sales SL was deemed ‘In Perpetuity’, this was a clear breach of a prior supreme court ruling that states no timeshare contract is permitted to last longer than 50 years if signed after 5th January 1999.
How This Effects Your Timeshare
The main reason this court ruling has had a such a profound effect on the timeshare industry is the fact that countless contracts currently breach the same legal rulings.
For instance, many mis-sold timeshares involved paying a deposit fee during the mandatory 14 day cooling period, meaning the contract is in breach of law.
Because of the court ruling involving Anfi Sales SL, a new legal precedent has been set. While this occurred in Spain, countries throughout Europe are now bringing similar rulings against timeshare firms breaking similar laws in their contracts.
Now, depending on the nature of your timeshare contract, you may be able to have your contract null and void. Should this be the case, you can also pursue financial compensation for the following:
- Original purchase price
- Annual liability fees
- Interest fees
Best of all, you would be completely free from your timeshare contract and all associated costs.
Hassle Free Timeshare Claims Services
Are you in a timeshare contract you can’t seem to get out of? Do you think you are due compensation from a mis-sold timeshare contract? Then contact Fox & James today for cost-effective timeshare claims services.