Deception within a timeshare contract has led to a recent supreme court judgement against Puerto Calma, Holiday Club Finland, with damages of a colossal £235,542 awarded to the claimant. According to sources the clients contract was declared null and void after the Spanish Supreme Court ruled in favor of the consumer in this astounding victory.
Within the legal contract Puerto Calma attempted to disguise the product they sold the customer as purchasing a share of the property which is more commonly know as a fractional ownership, when in fact the legally binding contract they signed in the presence of a specialist notary for full validity actually states a timeshare ownership which falls under timeshare law NOT real estate law. This then meant the client had fair right to fight the fraud as the contract was signed in Spain and with the Spanish law being very clear on the situation they had that on their side´s.
This landslide achievement will have a huge impact on ALL of the other timeshare companies who also sell similar fractional memberships. Each must now be completely transparent with all clients especially with the wording used in contracts and sugar coating the fact that this product CANNOT be sold as an investment opportunity.
Because of this loop hole Puerto Calma are now liable to refund the client ALL legal fees and also the interest that has been raised and taken against the monies over the years since the contract was signed.
This landmark ruling will come to the dismay to the likes of TATOC and RDO Members Silverpoint / Resort Proerties who were also stung by a very similar case which has already seen their client awarded £16,722 with the High Court in Tenerife declaring their contract null and void along with all legal fees being recouped also. This case follows the court rulings of the earlier Supreme Court decisions that states inperpetuity in a holiday ownership contract is illegal.
This again showing one and all the significance of the influence the Supreme Court has against the ongoing battle on the exit of timeshare ownership.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk