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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tip 583. Timeshare rights in Spain: a safe option now. Part 2
06 September 2011 @ 12:01

Duration of timeshare contracts are from 3 to 50 years. Once the period expires, holders of rights will not have right to any compensation.

* Timeshare rights can never be sold under the world " ownership"

* The infomative document that the seller of timeshare rights need to provide to buyers needs to contain:

- Name and addredss of seller/s

- Legal qualification of rights sold with clear mention of the date when rights will be extinguished

- Description of building and building status

- Commun services and building stage of the same

- Name of management company

- Standard price, higher prices, obligatory charges and taxes, yearly expenses, management fees..

- Explicit mention of no extracharges than those included in the contract.

- Number of dwellings and turns

- Full information on cancellation rights and their procedures

- Full description, processes and rights if exchange program exists

- Full descriton, processes and rights if cession of rights  is possible

* The seller will inform the buyer of all organisms where they can obtain information on their rights: Consumers offices, Notaries, Land Registries...

* Publicity of timeshare schemes will always include full information on the scheme registered in the Land Registry and a warning to check this registry before contracting

* All furniture included in the units will be listed

Part one of this serie here

Chiclana, Costa de la Luz, Cadiz, Spain by Lucia Lence at Flickr.com



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