Browse Tag

Fractional

Club La Costa Pays Out to British Couple

Today Inside Timeshare reports on a British couple who purchased a Fractional with Club La Costa in 2012, they received the court awarded payout of 16,076.75€ just in time for Christmas. This is yet another blow to the timeshare industry which has seen many cases against the major developers over the past few years.

Like many other couples, Mr & Mrs Bradshaw believed that they were purchasing a “fraction of a property” which would then be sold in back to Club La Costa 19 years and that it would be a sound investment. Unfortunately, they eventually found out that this was not the case.

As Mrs Bradshaw stated:

“When we found out what they had told us was not true, we felt trapped having discovered the fractional ownership was unsalable there being no resale market.”

The fact that there is no resale market other problems began mounting up, a problem which faces many other owners. Along with the fact that there would not be any resale Mr & Mrs Bradshaw now felt that their liabilities with this timeshare purchase were mounting up:

  • Management fee increases were much higher than inflation;
  • Booking holidays was always a problem and they had to compromise to get dates, location and property size;
  • Every time they booked a holiday there was a reservation fee;
  • To pile on the agony, every time they holidayed with CLC, shortly after arriving there would be constant knocks on the door to attend a sales presentation which were high pressured and intimidating.

These are common complaints from the many owners who have contacted Inside Timeshare regardless of which timeshare they purchased.

Mr & Mrs Bradshaw. Photo courtesy of ECC & M1 Legal

The Bradshaws had now had enough and in August 2016 met with a consultant from ECC to begin the process of legal action against Paradise Trading SL who were the sales and marketing arm of Club La Costa World. This company also belonged to Club La Costa World along with many other companies involved with the selling of timeshares.

Basis of their case was the contract did not specify any end date which is required under Spanish law as the maximum allowed is 50 years. There was also no registration for the accommodation in the land registry, another requirement of Spanish Law.

The case was then passed in early 2017 to M1 Legal based on the Costa del Sol who then prepared the case for court.

M1 Legal are processing over 1,500 timeshare cases, with over 900 already being filed with the courts, the total value of these claims is in excess of £21 million. M1 Legal has also achieved 191 judgements in favour of their clients.

In a final comment Mrs & Mrs Bradshaw stated:

“We received €16,076 just in time for Christmas,” said the Bradshaws. “This was like a big cloud over us and now that it has been lifted we don’t need to worry about family being lumbered with unwanted timeshare bills. We sincerely thank ECC and M1 Legal teams for their efforts.”

For the full story please follow the link below.

http://r.smtp.ecc-eu.com/tr/cl/mMlybnyJHQxssqLnzW0hFZkl2cOUNvmeZlvq3YBp99yoe2c_wAj_DRpa7m4P_AGidOj9LzCLJquBpVbyqj9BrV-b3XLe55yyPQy0_Hs8eFJZmoTGxRj_eh9dA_OTfPJe8jvG0L4fqeocF2XopoFC5WgEznYRKIBPtU47eeeuetizL45IWve1zRAQVweLIYK_s2RPvQXsmWUo65iKB6hcTaDvKrFlUcAoSneaZl_tyYvgVTpbhm1hM5E0Y3dcmjpfE_qEwx_H077vaAix2kZAzAQ-9eIHpOFAxwDcYpEKaTSiGI10f78P0L6cPnSsPKXthtpQA87EqDi7Jn9j0ujjcsn9pp5BcBgIUHLB5Uj6MW_8N-7YwDWrysxOl48yn-VB0Bm_CjbG3WsCtWbSu_OivJdCVWS1d11SnDq8OUu94W_t_1Ap7xH9V2J-JmWRJSRYe6urqf76ywGnJLya1afh8zFQ-5rVboOIAcXErNahMBYGyHAoI0EqCJSQ-WWNFgyyGkdEt9H2p64Nm987YXobBFyq09h0qCpQDeZ9VIsnzWpjeGUkDO0K3hzF1BWRFLHRCgbm3x2f5OVA_DAD1dbxi39YyvK5uNdDNA

Once again we see the courts are enforcing the timeshare laws to the letter and thanks to the efforts of the lawyers at M1 Legal another happy couple are timeshare free and no longer liable for the ever-increasing maintenance fees.

If you would like to know if your timeshare contract is illegal under Spanish law, please use our contact page and Inside Timeshare will get back to you.

Start the Week

Welcome to the start of another week at Inside Timeshare, last week we had the privilege of publishing our first article from Canada, sent in by the Club Intrawest Owners Group Hopefully this will be the first of many.

We also highlighted the latest news about the Anfi Tauro Beach Project, again the local people are being treated in the most dismal of ways. This project has been a fiasco right from the start, it has still a long way to go before it is resolved, we hope in the interests of the locals.

LIT

On the fake lawyers front we highlighted a very lucky escape for one of our new readers, it concerned Armando Gareca Abogados one of the new names in the Litigious Abogados family. At least this reader found out before he paid the initial fees to get a ficticious court case underway. This group has produced some very convincing documents and an even more convincing story, if you are contacted by them, think very carefully, if in doubt contact Inside Timeshare.

That intrepid law firm from Gran Canaria, Canarian Legal Alliance, also had a very good week, after publishing on Friday, our contacts informed us that they had received several Supreme Court rulings during the course of Friday afternoon. It brought the total of judgements by the highest court in Spain to 56, all brought by the lawyers at CLA. From what we at Inside Timeshare could gather those lawyers were absolutely ecstatic, as they received 5 rulings in one day!

From what we have been able to find out, no other law firm in Spain has ever achieved this amount of rulings, let alone had this number of cases sent to the Supreme Court. A truly remarkable achievement, with apparently many more still waiting to be heard.

nyt logo

To start the news this week, we look at a story from the New York Times, received by email for our morning briefing.

Europe Edition
Your Monday Briefing
By STEPHEN HILTNER
Good morning.
Here’s what you need to know:
The New York Times
• Turkey is facing mounting difficulties both at home and abroad.
The government has seized control of more than 950 companies since last July — from small baklava chains to large, publicly traded conglomerates — over accusations that they were linked to a coup attempt. The seizures, worth about $11 billion, have changed the way Turkey is perceived in the international business sphere. The Turkish lira is crumbling, and foreign investment has dropped by half compared with last year.

You may ask what has this got to do with timeshare?

Quite a bit if you have purchased a Club la Costa Fractional in Turkey!

As we know fractional is being sold as a real estate investment, with points attached in order to use it. The whole point is that it will increase in value and then be sold for, we hope, a profit in the future.

pigdress
Fractional, is it just a pig in a dress?

With the current situation in Turkey, it now makes this investment a rather dodgy deal. How long will it be before these seizures of businesses affect the resorts, after all who is building them, who owns them?

Also as foreign investment in Turkey is declining, will this make Club la Costa withdraw?

Will these properties actually get built?

What will happen if they don’t, will you get any of your money back?

Will CLC transfer you to a European Fractional?

These are all legitimate questions you should be asking yourself, where do you stand if it does go wrong?

Inside Timeshare is waiting for confirmation that the Supreme Court has made a ruling regarding fractional, once we receive this we will explain their judgement.

For the coming week, on Wednesday we will be publishing another article from Irene Parker, this one will be little different from our usual fare, it is a story of how timeshare should be, honest, above board and beyond reproach. But you will just have to wait till then.

Remember, it pays to do your due diligence and check things out before you go ahead and spend vast sums of money on anything to do with Timeshare. It is a minefield, so if you need any help or advice on how to check any company out contact Inside Timeshare and we will point you in the right direction.

If you have a story you would like to share with others contact us and we will work with you to publish it. Inside Timeshare is here to give you the facts, the truth and a place where you can share your own experiences with others.

thank-you-background-have-a-great-week_4lryptpix__F0000

 

Europe: Silverpoint News. US: News from Irene

Recently Silverpoint has been making the headlines due to the rulings against them not just at the Supreme Court, but all the lower courts on Tenerife have also followed suit.

Now it has been announced that Silverpoint has withdrawn its membership to the Resorts Development Organisation (RDO), this will come as a blow to the timeshare industry trade body, as Silverpoint was a major contributor.

Another announcement was from The Association of Timeshare Owners Committees, (TATOC), only recently Silverpoint downgraded their membership from Platinum to Silver, now they have withdrawn their membership completely. Again Silverpoint was a major source of funding to TATOC. So the donation to them of $30,000 by ARDA has come at the right time. TATOC have also stated that the following resorts will remain affiliated members: Palm Beach Club, Hollywood Mirage Club and Beverly Hills Heights. We also have to remember, part of Beverly Hills Heights is being sold off, with many members being moved to other apartments or to the Hollywood Mirage.

beverly hills heights
Beverly Hills Heights

Silverpoint have also announced that they will no longer be selling “Timeshare”, well that is a surprise, as according to them in their own evidence to the courts, they sell affiliations to a club and “weeks to investors” and this was not timeshare. Fortunately the Supreme Court did not agree with them, this court stated they did sell timeshare, that the so called “investors” were in fact consumers of timeshare.

Many of these cases have been reported here on Inside Timeshare, for more information on this have a look at the Canarian Legal Alliance website news section. All the Supreme Court judgements have been published by them.

https://www.canarianlegalalliance.com/category/silverpoint/

So now the question has to be asked, what are they going to be selling if they are not selling timeshare?

Rumour has it, from very reliable sources, Silverpoint are going to be selling “Holiday Packs” and “Freehold Property”. Obviously, if they have withdrawn membership from the timeshare industry trade body, the “holiday packs” will not be coming under timeshare law, so what will that be regulated by?

On the “Freehold” side, is this going to be full freehold or is it going to be a rehash of Fractional?

Is this going to be regulated by Real Estate Laws?

Another question that needs to be asked is, could all this be down to the the courts now rejecting Silverpoints defence and finding at last in favour of the consumer?

Will the RDO and TATOC also now acknowledge the fact the law in Spain as laid down by over 50 Supreme Court rulings is correct?

Only time will tell, we will be keeping an eye on developments and report them here, as and when the news comes in.

Today we also publish another story from our US writer Irene, in this short article she announces the start of the new series from Fox News Property Man Season 3 with Bob Massi.

Bob Massi is a renowned Nevada lawyer with many years experience as well as a TV celebrity.

Irene and her husband Don will be on his show on 14 April, they recorded an interview segment some time ago with Bob Massi, on their own timeshare experiences. So Irene and Don have become “timeshare TV rock stars”. (I must get their autographs).

rock star cartoon

FOX News Property Man Season 3 Premiere airs Friday April 7

Follow up to first timeshare segment “How to Get Rid of Your Timeshare”

news paper

By Irene Parker

April 5, 2017

Season 3 of The Property Man with Bob Massi will begin airing this Friday, April 7th at 8:30 PM ET on FOX BUSINESS NETWORK. The show will continue to air on Friday evenings on Fox Business Network (FNC’s sister channel) at 8:30 PM ET.  We are looking forward to Season 3 in Arizona airing and wanted to thank all of you for joining us on the show.  I will send individual emails to all of you with the exact air dates for your segment(s).  We welcome all social media promotion and interaction:

Bob Massi Facebook: www.facebook.com/RealBobMassi

Bob’s prior Timeshare Segment featuring Licensed Timeshare Resale Broker Association Members:

http://insidetimeshare.com/?s=bob+massi

Bob Massi Twitter: @RealBobMassi

In case you haven’t checked out Property Man website and clips,

http://www.foxnews.com/shows/the-property-man/index.html

http://video.foxnews.com/playlist/on-air-the-property-man/

calender sheets

My Vacation Plan has turned my life upside down. Let’s review the timeline.

July 2015 I attended a timeshare sales presentation where my husband and I were blatantly lied to. The same day I learned 4500 hundred promised exchange points were credited only 3000 the third year I used the program. I turned on the television and watched Las Vegas Attorney Bob Massi, host of Property Man air “The Queen of Versailles” about Westgate timeshare owners. I wrote to Mr. Massi and was selected for an interview because, out of a multitude of respondents, I was the only one who wanted to talk about the positives of timeshare, in addition to the negatives.

http://insidetimeshare.com/?s=peasant+of+venice

Second, advocacy efforts contributed to the Arizona Attorney General’s $800,000 settlement against Diamond Resorts and the issuance of an “Assurance of Discontinuance.”

http://insidetimeshare.com/?s=arizona+attorney+general

Last, but not least, one of the oldest law firms in Nevada filed a billion dollar class action against the company. A motion is pending, as reported by Irina Allen.

http://insidetimeshare.com/timeshare-news-across-atlantic/

http://insidetimeshare.com/?s=billion+dollar+lawsuit

Diamond Resorts was acquired by Apollo Global Management. Apollo was founded by banker Leon Black. Mr. Black also founded Drexel Burnham Lambert of junk bond fame. When DBL declared bankruptcy, Mr. Black founded Apollo.

https://www.thestreet.com/story/13624491/1/is-apollo-returning-to-its-junk-roots-with-its-acquisition-of-diamond-resorts.html

Stay tuned to Inside Timeshare and FOX News Property Man for upcoming turns of events.

Advocacy Works!

http://insidetimeshare.com/?s=advocacy

https://www.facebook.com/groups/DiamondResortsOwnersAdvocacy/

around globe

Related story: FOX Celebrities Dave Ramsey and Laura Ingraham endorse

http://thetimesharecrusader.blogspot.com/2016/11/an-open-letter-to-dave-ramsey-and-laura.html

So there we have it, Silverpoint no longer selling timeshare, the RDO and TATOC losing a major source of revenue and long standing member.

Consumers purchasing in Spain now being protected by the strongest timeshare laws in Europe, with massive payouts for past infractions of these laws. Let us hope that other countries will enforce the law to the same degree and protect timeshare consumers all over Europe, no matter where they bought. After all, that is what the EU Directives on Timeshare were put into place.

If you have any questions about this article or any published on Inside Timeshare, contact us and we will try to answer them for you. If we don’t know the answer we will find out for you. If you have been contacted by or are looking at dealing with any company and want to know more Contact us and we will point you in the right direction.