The Judgment No. 18878 of 2024 on Real Estate Timeshare: Requirements and Determinability of the Object

The judgment no. 18878 of July 10, 2024, issued by the Court of Cassation, represents an important reference point for understanding real estate timeshare and the requirements that must be met for the validity of the preliminary contracts associated with it. In particular, the Court emphasized the importance of the determinability of the contract's object, highlighting the need to precisely identify the share of each co-owner in the enjoyment of the property.

The Concept of Real Estate Timeshare

Real estate timeshare allows multiple individuals to share the right to enjoy a property, typically a real estate asset, during predetermined periods. This system of rotational enjoyment requires that the rights and duties of each co-owner are clearly defined. The judgment in question clarifies that the preliminary contract must necessarily contain all the essential elements for the future stipulation of the definitive contract.

(ELEMENTS OF THE CONTRACT) - OBJECT (NOTION, CHARACTERISTICS, DISTINCTIONS) - DETERMINABILITY - IN GENERAL Real estate timeshare - Nature - Preliminary contract for a share of timeshare - Content - Identification of the share or its determinability - Necessity - Basis - Criteria. The institution of real estate timeshare, characterized by the right of rotational enjoyment of the same asset by multiple subjects, requires that the share of each co-owner be concretely identified as the effective entity of participation in the enjoyment of the accommodation; therefore, the preliminary contract concerning a share of timeshare, needing to contain all the essential elements of the future definitive contract, must indicate the share in its actual measure or, in any case, the criteria for its millesimal determination, as these elements impact the definiteness or determinability of the object of the contract under Article 1346 of the Civil Code, and the mere indication of the period of enjoyment of the property reserved for the prospective buyer is not sufficient for this purpose.

The Requirements of the Preliminary Contract

According to the Court, for a timeshare preliminary contract to be considered valid, it is essential that it contains:

  • The indication of the timeshare share in clear and measurable terms.
  • The criteria for the millesimal determination of the share, if it is not possible to indicate it precisely.
  • Essential elements that outline the rights and duties of each co-owner.

These requirements are not mere formal details but represent guarantees for the rights of co-owners, reducing the risk of future conflicts and legal uncertainties.

Conclusions

In conclusion, judgment no. 18878 of 2024 offers an important guide for those preparing to enter into a real estate timeshare contract. Clarity in identifying shares and the determinability of the contractual object are fundamental to ensuring the validity and legal security of the agreement. The parties involved should pay particular attention to these aspects, not only to comply with the regulations but also to protect their rights in a real estate sharing context.

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