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)