Legal tip 1306. Banks to refund timeshare claimants
Tuesday, June 23, 2015 @ 1:18 PM
You might just want to get out of the eternal scheme that the timeshare linked you to, and in a sense, that would already be a great relief but…….
Know that Spain Supreme Court has recently established that Financers (Banks, Saving Banks, lenders….) which participated of the business by providing the loans are also under the obligation to refund you all amount paids in a null contract.
Spain Supreme Court has very clearly established nullity of timeshare contracts that under legislation in force since 1998 were performed against this in regards to:
- Timeframes ( perpetual schemes are null, maximum is 50 years)
- Object ( Floating, point systems are null: object needs to be on an specific registered estate)
- Quick payments: 3 months have some Courts established as a cooling-off period
Good that Supreme Court is so very well caring for consumers’ protection in an area where illegal contracting was of the essence. Good for Spain and Spain tourism sector
Good for you who have been suffering this illegal tactics and uses.
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