If you’ve had your eye on the news in the world of timeshare recently, you’ll have no doubt come across the many cases being raised against Anfi contracts. Hundreds of thousands of the timeshare company’s contracts have been deemed null and void in court cases across Europe. In the face of massive losses, it’s little surprise to hear that now Anfi are doing their utmost to put things right.
A Special General Meeting was called in Gran Canaria in June 2017, to which the company’s timeshare holders were invited to attend. The reason behind the meeting was to discuss and to rectify those timeshare contracts that could still end up in Court. Anfi contracts that were signed after 1999 and exceeded the maximum legal duration of 50 years (or had no fixed term at all), are the ones gaining so much legal attention – so it is these Anfi contracts the company are seeking to rectify.
In the meeting, three potential resolutions were raised:
1. To establish occupancy periods for a maximum of 50 years’ duration, with an option to extend for a further recurring occupancy period of 50 years.
2. To limit the duration of the Timeshare Scheme to a maximum of 50 years.
3. Total change of Timeshare Scheme to adapt to the Spanish Act 4/2012.
This third proposed resolution adapts Anfi contracts to ‘Rotational Enjoyment Rights, which is explained as follows:
“Every current holder of a membership certificate shall be allocated a number of rotational enjoyment rights, equal to the number of membership certificates they currently hold and which will entitle them to enjoy the same week of use as they currently hold”.
So, what were the results?
Resolution 1 was approved for all three resorts (Club Puerto Anfi, Club Monte Anfi, and Anfi Beach Club).
What does this mean for you?
The outcome of the Anfi Special General Meeting on Anfi contracts only applies to new contracts. The club doesn’t have any right to change existing contracts signed by you and Anfi. If you have signed the new contract, then yes, it will apply to you. However, if you do not accept the new Anfi contract offered, then your existing contract remains in force – and thus remains illegal.
As such, if you do not sign the new contract Anfi offer you, then you are still eligible to take your timeshare case to Court for annulment and possible compensation.
So far, all cases won against Anfi on the issue of perpetuity contracts have paid out a total of €3.2 million and rising.
So, if you want out of your Anfi contract, it is imperative you do not sign the new contract they offer you. Instead, contact Timeshare.lawyer and find out what options are available to you.