ANFI. Are they sending "tricky" letters?

April 15, 2021

Well, it could be, like the letter transcribed below, where they mention changes that must be made to comply with the "Vacation Membership Law in Spain" (interesting name) which they call later the Timeshare Law in Spain. They forget to mention that these changes are now necessary because of their mistakes

Holiday Clubs (Long term holiday product): voluntary withdrawal after the second payment.

September 19, 2016

For those that have signed a contract, after the 18th March 2012, for a Long Term Holiday Product, perhaps you should know that according to the Spanish Legislation (RDL 8/12 and Law 4/12) you, the consumer, may terminate the contract, after the second year, by giving notice of termination to the trader no later than 14 days after any day on which the consumer receives a request for payment of an installment and without incurring any penalty...

Applicable law to timeshare contracts currently in force.

December 10, 2014

In Spain there are currently at least three specific legal regulations applicable to timeshare contracts in force today, these are:

- Law 42/1998, de 15 de diciembre, sobre derechos de aprovechamiento por turno de bienes inmuebles de uso turístico y normas tributarias.

- Roya Decree-Law 8/2012, de 16 de marzo, de contratos de aprovechamiento por turno de bienes de uso turístico, de adquisición de productos vacacionales de larga duración, de reventa y de intercambio.

-And Law 4/2012, de 6 de julio, de contratos de aprovechamiento por turno de bienes de uso turístico, de adquisición de productos vacacionales de larga duración, de reventa y de intercambio y normas tributarias.

Consequently, contracts signed between the 5th of January 1999 and the 17th of March 2012, will follow Law 42/98, whereas those contracts signed between the 18th March and the 7th July 2012 has to follow the Royal Decree-Law, being Law 4/2012 for contracts signed after the 8th July 2012.