Wednesday, 18 May 2016 13:44

Which Gran Canaria Timeshare Companies Have Lost Cases?

Timeshare owners are finally getting their money back Timeshare owners are finally getting their money back www.photosgrancanaria.com

While the initial test case that took Gran Canaria timeshare all the way to the Supreme Court was against Anfi Resorts, several other timeshare companies have lost cases in 2016.

Here's an up-to-date list of the timeshare companies that have had contracts annulled this year.

ANFI DEL MAR

As the largest timeshare operation in Gran Canaria, Anfi del Mar has lost the most cases in the Las Palmas High Court and the Spanish Supreme Court. What's more, it is now losing cases in the local courts in San Bartolomé de Tirajana.

Anfi timeshare contracts have been declared void for several reasons. Amongst them are the use of in-perpetuity contracts, selling floating weeks, and taking deposits within the legally mandated cooling off period. 

PALM OASIS / TASOLAN

The Canarian High Court has ruled, acting on the Supreme Court rulings, has ruled Palm Oasis / Tasolan timeshare contracts that include an "in perpetuity clause" null and void. 

This is because all timeshare contracts signed in Spain since January 4, 1999, must last between three and 50 years. 

Palm Oasis argued that it was a condominium rather than a timeshare, but the Las Palmas High Court ruled that it was bound by timeshare law. 

Palm Oasis / Tasolan timeshare owners have also had contracts annulled because the company took deposits during the legally mandated cooling-off period. Clients that paid deposits within the cooling-off period are entitled to their money back, plus double their deposit. 

PUERTO CALMA

The Las Palmas High Court has backed an earlier ruling by the San Bartolomé de Tirajana court and ruled a timeshare contract signed by clients of Puerto Calma null and void.

PETCHEY LEISURE / REGENCY RESORT (Tenerife)

The Spanish Supreme Court Rulings against timeshare companies aren't just happening in Gran Canaria. All timeshare contracts signed in Spain since January 4, 1999, are affected.

In Tenerife, the Arona High Court has declared a Regency Resort timeshare contract null and void because deposit money was taken during the cooling-off period. 

SILVER POINT / RESORT PROPERTIES (Tenerife)

Arona courts have also ruled a Silverpoint / Resort Properties contracts null and void because the company took deposits during the cooling off period. As the contract was annulled, the owners get their money back in full. 

Getting your timeshare money back

All of these court cases were won by the same Gran Canaria-based legal firm, the Canarian Legal Alliance. It was the first law firm to get timeshare test cases in front of the Spanish Supreme Court, the first to get Supreme Court rulings against timeshare companies, and the first to actually get its clients money returned.

Now that the law is clear, Canarian courts are getting faster at voiding illegal timeshare contracts and forcing the timeshare firms to pay up. The only way their lawyers can wriggle out of cases is if a lawyer makes a mistake. 

This is why we recommend that you talk to the Canarian Legal Alliance. They have led the way and won the cases and are the Spain's leading timeshare law experts. If you want to get your illegal timeshare contract annulled and your money back, send them your details with this form and the CLA will contact you right away.

Is my timeshare contract illegal

If you signed your timeshare contract after January 4, 1999, and it contains any of the following, then it is illegal and you can get it annulled and your money returned. The date is when new Spanish timeshare laws cae into force. Many timeshare operations simply ignored them. 

Sold in perpetuity

If your timeshare contract is indefinite, it is illegal and can be voided.

Contains a floating week

The whole concept of a floating week is illegal according to Spanish Law. If your timeshare contract doesn't have a defined date for your week or weeks, it is illegal and the courts will void it. 

Illegal deposits

Timeshare companies can't take a deposit at the time of signing a contract. They have to wait for either two weeks or three months before asking for any money. This cooling off period was introduced in 1998 to stop timeshare vendors from using high-pressure sales tactics to bully people into signing.

Almost all timeshare contracts signed in Gran Canaria have a three-month cooling off period. 

If you signed a timeshare contract and paid a deposit on the day, or within three months, your timeshare contract is almost certainly illegal. 

Trustee deposits

Timeshare companies tried to get around the ban on deposits by getting buyers to make a payment to a trustee company that held the money for three months. The Spanish Supreme Court has ruled that this is the same as taking a deposit and is, therefore, illegal. 

Have you got a case? Find out in just 24-hours from the only legal firm that is winning cases and getting timeshare money back.

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Published in Timeshare Law
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  • Exchange Money In Gran Canaria Or At Home?
    Exchange Money In Gran Canaria Or At Home?

    Visitors to Gran Canaria often ask whether it is better to exchange their local currency for euros at home or in Gran Canaria. 

    The answer is that it is almost always better to buy your euros at home than it is to bring pounds to Gran Canaria and use local banks or currency exchanges. This rule of thumb applies all over the world. A currency is almost always cheaper the further away you are from the place you can spend it (because demand for it is lower). 

    Exchange rates are almost always better at home than in Gran Canaria

    You are very likely to get a better exchange rate using a British currency exchange specialist or local bank. Many of these companies will deliver your euros to your home.

    One of the best rates in the UK is often from the post office, especially if you do it well in advance.

    The only way you'll get a better rate in Gran Canaria than at home is if the exchange rate changes while you are travelling and this is rare. 

    You also have to bear in mind that currency exchanges in Gran Canaria are getting rarer and some local banks don't exchange money for non-clients. 

    To Transfer large amouynts of money to Gran Canaria, or to make regular transfers, always use a reputable currency broker such as Currencies Direct. This will save you money on exchange rates and bank charges and is highky secure. 

    The risk of bringing cash to Gran Canaria

    Another important factor to consider is the risk of bringing cash to Gran Canaria: If it is lost or stolen, there is no way of getting it back. 

    It is much safer to bring a debit or credit card and use local bank ATMs to take out money. These days, a good option is a pre-charged debit card. 

    Cards may be slightly more expensive that carrying cash, unless you seek out a bank card with low commissions, but it is much more secure. 

    Bank ATMs like Bankia, Santander and BBVA often charge lower rates than the ATMs in shopping centres and busy tourist areas.

    Alex Says: Always select the Euro option at ATMs in Gran Canaria because the exchange rate is much better than if you opt for the Local Currency option. The same applies when you pay by card in shops and restaurants.

    See our Gran Canaria Tips section for more nuggets of useful local information.

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