Good news after judge rules over timeshare contracts in perpetuity. Did you know, in the case against the Gran Canaria-based Anfi Group, the judge ruled that “in perpetuity” clauses broke a Spanish law which states that no timeshare agreement signed after January 15 1999 can last more than 50 years
Terminating a Timeshare contract is challenging for a reason – resorts do not want to miss out on the maintenance fees, thus most of them do not readily allow the surrendering of ownership.
Perpetuity clause
The perpetuity clause compounds the issue, implying that ownership extends indefinitely, with subsequent generations inheriting the financial obligations. This is a scary thought for many owners, especially as 80% of timeshare members do not know their ownership rules.
The initial step involves identifying the type of agreement and seeking assistance if necessary. Do not be pressured into making any premature decisions before you have armed yourself with all the relevant facts about Timeshare Contracts in Perpetuity.
Can I surrender my Timeshare?
Very few companies let you do that as losing you as a member means they will lose out on management fees. Even if this is an option with your resort, bear in mind that any financial investments you have ever made during your ownership will be lost and you cannot get your membership back if you change your mind.
Can I make a financial claim?
Many Timeshare owners who have been trying to get out of Timeshare for years are just happy to be free from the crippling maintenance fees and an inflexible holiday system, however making a claim is still possible under certain conditions. Contact us to see if you are eligible for a compensation claim.
Are there costs involved in terminating a Timeshare contract?
Depending on the route you are taking there are potential costs involved. Your resort might charge you to surrender or transfer your membership and Timeshare Disposal companies usually charge you a set fee as well, depending on the work that is involved in getting you out of Timeshare.
How do I know my contract is canceled?
Once you have legally disposed of your Timeshare, you will receive a formal notification from your resort affirming that you no longer own the Timeshare with them and are no longer liable for any associated fees.
You may be interested in some other timeshare information. If so see here:
Check Using Our Claim Calculator to check if you qualify for a Timeshare Release
Our timeshare claim calculator is a fast and easy way to find out how much you could receive in compensation from your mis-sold timeshare.
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