Impact SGM 23th June 2017

The Spanish Act 42/1998 created timeshare rights called “rotational enjoyment rights” for a period of up to 50 years. The Supreme Court decided that this is true for all contracts after the law came into force so Anfi had to comply with this even the law can be read the other way. At the SGM’s

Illegality of contracts

Many timeshare contracts in Spain including Anfi are illegal with the possibility to declare such contracts at court null and void to get the purchase payment back. At beginning of 2015 there were two remarkable verdicts of the Supreme Court in Madrid declaring in-perpetuity contracts and floating week contracts without reference to the inventory as