Why are Anfi changing their contracts?

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As you may be aware, Anfi timeshare contracts have been under legal scrutiny for quite some time now. This has resulted in legal cases being brought against them and huge losses for the company. It seems that Anfi’s response to this has been to try and rectify their errors by holding a meeting to put forward and pass resolutions.

In June 2017, a Special General Meeting was held for timeshare owners in Gran Canaria for Anfi to decide how they were going to rectify the timeshare contracts that are gaining attention. This was because some contracts exceed the legal 50-year maximum length.

At the meeting 3 resolutions were put to the timeshare owners for a vote.

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 Spanish Act 4/2012.

The outcome of the vote was to adopt resolution 1 as above. There were 2604 votes in favour and 245 votes against. It is proposed that this will be applied to all three Anfi resorts (Club Puerto Anfi, Club Monte Anfi, and Anfi Beach Club).

What do you need to know?

What you need to be clear about is that this will only affect new contracts from the date of the amendment and NOT existing contracts, unless the existing members agree to their contract being amended. We would not advise that you sign any new contract without first seeking legal advice. The result of this could be that you are signing away your right to bring an action in relation to the existing contract. Please be very careful.

Unfortunately, because of this, the recent developments will not have many benefits to current timeshare owners. However, if you do sign a new contract then the occupancy period will then last for a maximum of 50 years which you can then opt to extend. If you have not signed a new Anfi timeshare contract your existing contract will still be enforceable and may be in perpetuity. This is illegal and you may be eligible to pursue compensation and to have the contract deemed null and void.

What should you do now?

Your contract should be considered on an individual basis, as relinquishment is not a one-size-fits-all solution. If you believe that this may apply to you then please do get in contact with us so that we can discuss matters in more detail with you.

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