The legal system of the Law 42/1988 makes a distinction between on the one hand, the rules on the constitution of the timeshare right system (arts. 4-7) and on the other hand, the rules on the promotion and transmission of these rights (arts. 8-15). In the Transitory Dispositions 2nd and 3rd of the Law, it is established the need that the pre-existing systems are adapted to the new legal requirements. And the Transitory Disposition 1st establishes that in order to promote and transmit these rights, in any case, the articles 2 and 8 to 12 of the Law will be applicable.
Therefore, any contract on promotion or transmission of rights signed after the Law came into force, as it happens in this case, regardless of whether the pre-existing system has not yet adapted to the new law, the articles 8 to 12 will be applied with the utmost severity. Evidence of this are the articles 10 to 12 of the Law 42/1998 which are included in the contract of this case.
The art. 8.1 of the Law 42/1998 to do with the duty to provide with general information expresses specifically (something that it is not done in the Directive) that “it is prohibited the transmission of timeshare rights with the word ‘shared-property’ (multipropiedad) or with any other denomination that contained the word “property”. It is repeatedly expressed in the contract that the purchasers become owners or co-owners and that the object which is transmitted is “shared-property”.
Therefore this rule must be applied to the contract, because it was signed after the Law came into force, and the legal consequence of its infraction is the nullity of the contract due to the infringement of a mandatory rule (art. 6.3 of the Civil Code).