Perpetuity Contracts Tag

Supreme Court Rulings 2015: Update

Last year there were two Supreme Court rulings made against Anfi in which two perpetuity contracts were declared null and void on the basis that the membership was for a duration of more than 50 years. RDO concurred with Anfi's conclusion at the time that there had been a misinterpretation of the law in Spain as it applies to timeshare schemes in existence before Spain implemented the provisions of the first Timeshare Directive in 1998. Clarification was sought by Anfi earlier this year from the Property Register and Notary Head Office, which was responsible for authorising the registration of the pre-existing schemes...