ADAPTATION TO THE SPANISH 42/1998 ACT OF THE PRE-EXISTING SCHEMES OF “MULTI-OWNERSHIP” SYSTEMS


 ICONO PEQUEÑA BRITANICAFOLLOWING APPELATION PROVINTIAL COURT OF LAS PALMAS (GRAN CANARIA)  JUDGEMENT NUMBER 447/2015  OF 27th NOVEMBER  2015

There is a new  Judgement issued by the Appeal Court of Las Palmas de Gran Canaria regarding the P***  and P *** Resorts, operated under a “multi-ownership” system preceding the 1998 Spanish Act, i.e. the former Spanish system whereby the purchasers acquired full ownership of a 1/52 share in the apartment.

The Court of Las Palmas thereby concludes that the legal doctrine contained in the Supreme Court Judgement which states that pre-existing systems may not last longer than 50 years after the Spanish Act 42/1998 and that they should meet all the requirements of the new Spanish legal system called “rotational enjoyment” is not applicable to a system which does not involve “right in rem or rental rotational enjoyment”  but co-ownership  of apartaments (multiownerhip).

This is certainly a surprising Judgement after the Supreme Court Judgements of January and June which we all know about. I agree with what this Judgement says, although, for the same reasons, I would extend it to pre-existing systems which have not been created under Spanish Law, such as the Club-Trustee system.

(PLESE SEE “LEGAL VALIDITY OF THE “CLUB-TRUSTEE” SYSTEM: BEFORE, DURING AND AFTER THE SPANISH TIMESHARE ACT 199)

Lizarza Abogados

Marbella, 09.12.2015

 

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