There are different points that the Supreme Court and rule on, please see the below points that we have broken down for you to understand easier:
– Timeshare Contracts – All timeshare contracts must have clear determined content that is easy to read and understand. An example of an illegal contract would state; ‘T1-2Bed’ in stead of ‘a 1 bed apartment’.
– Perpetuity Contracts – Contracts are not allowed to have an indefinite period pf time. A timeshare contract can last no longer that a period of 50 years.
– Payments – Any payment that is made within 14 days of signing a contract is illegal and must be returned by the timeshare company.
– Compensation – The Supreme Court has ruled that clients do have the right to cancel their timeshare contracts based on legal grounds already cited. Clients can be reimbursed the proportional part of the ‘not used years up to a maximum of 50 years.