Yet more timeshare claim cases are moving through the courts, quicker than ever before, thanks to the Supreme Court ruling, detailing illegalities within contracts.
Three main points within the contracts are proving to be unequivocally illegal in the courts eyes;
- Any contract lasting longer than 50 years – “in perpetuity”
- Floating week products
- Taking money within the cooling off period – “consideration period”, this can be up to three months from the purchase date.
Within the last week, two UK families have used the above points to successfully nullify themselves from their timeshare contracts.
On Tuesday, 12th July, the Supreme Court in Gran Canaria awarded over 18,500€ to one of the families and declared their Anfi contract null and void as the contracts were for more than 50 years, and in the courts eyes – illegal.
In another case, for the other family, the Supreme Court again ruled their contract to be null and void and awarded them over 13,000€, including double any monies paid within the cooling off period. As a side note, it definitely helped their case and compensation consideration that they were also sold floating weeks.
These rulings are becoming a weekly event and the resorts now have little defense if their contracts include one or more of the three points listed above. The president ruling and subsequent cases also ruling with reference to this, are opening the flood gates for owners to pursue not only a refund of their original purchase price, but legal fees, interest and double any monies paid in the first three months. In some cases owners have also been awarded their annual maintenance fees for every year they have owned and paid, regardless if they have also used the ownership.
There may not be a buoyant resale market within the timeshare industry, but there is definitely a way to recoup the money that you begrudgingly spent.
Posted on: July 18, 2016
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01253 804 318 or email: info@TimeshareConsumerAssociation.org.uk