15 MAR 2021

Our Guide to Dealing With Mis-Sold Timeshares

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Timeshares have proven to be incredibly popular, with over half a million customers owning holiday time in countries like Greece, Malta, and Portugal. However, more individuals have expressed dissatisfaction with the service they receive or the contract they signed up for, mainly if it was less than promised. If you find yourself in a similar situation, you’ll want to seek legal advice about your mis-sold timeshare.

There are plenty of details you’ll need to scrutinise in your timeshare contract, which will strengthen your claim. These include annual maintenance fees or the inclusion of in-perpetuity clauses. Still, many people overlook or underestimate these details upon purchase, leaving them wanting to give up their contract when problems start popping up. 

 

Leaving a Timeshare Contract

Unfortunately, being trapped in a timeshare contract is a widespread situation. As annual maintenance fees rise every year, it often renders contracts difficult to almost impossible to care for financially. The medical expenses that accompany poor health also often leave people paying for timeshares that they no longer use. Additionally, the in-perpetuity clause means that the timeshare’s financial obligation will fall into the hands of their beneficiaries after passing away, creating a distressing situation.  As such, people look for all possible ways to exit their timeshare contract.

If you find yourself in this scenario, the first thing you must do is to contact your timeshare company. It is possible to reach an amicable resolution with them, resulting in your contract’s cancellation with minimal blowback, although this is ultimately up to their discretion. It’s also important to note that you do not have a contractual right to exit your contract early.

 

Selling Your Timeshare 

Reselling your timeshare is a plausible solution, although there are many hidden costs and conditions that you may not expect. In fact, these can be so costly that you’ll end up having to pay for these expenses while still owning your contract, which means you haven’t effectively left it.

Companies tell timeshare owners that the only way to leave this scenario is to exit the contract, promising that it’s easy to transfer the membership and even receive the sale’s proceeds. Unfortunately, this usually isn’t the case, especially when working with a resale company you’re not sure you can trust.

While privately selling your timeshare is also an option, it comes with many complexities, like the Certificate of Ownerships to Escritura. Only legal professionals should handle these to make sure everything is correctly done. As such, it’s best to seek legal help when dealing with mis-sold timeshares.

 

Seeking Legal Help

If you believe that you purchased your timeshare under misleading circumstances, then you have all the rights to exit the contract legally. Criteria of a mis-sold timeshare include inaccurate verbal, written, or visual information, such as the property’s images and descriptions not matching what it is in reality. If the salesperson had left out any crucial information, such as maintenance fees or contract lengths, your contract could be classified as a mis-sold timeshare.

It’s important not to proceed by yourself, as many timeshare companies are aggressive when defending themselves against claims. As such, work with a reputable company with your best interests to make sure you receive the compensation you deserve. They will also work to make sure that you can exit the contract with little to no consequences.

 

Conclusion

Dealing with mis-sold goods can often be stressful, especially if you don’t have proper guidance. Without taking action, you can be stuck in your timeshare contract for the rest of your lives, and you’ll be paying for something you are not satisfied with or are no longer using. However, by seeking legal help, you can find a reliable and trustworthy partner in ensuring you leave the contract properly.

Consumer Reclaim specialises in helping consumers deal with mis-sold goods and products. Whether you’re dealing with timeshare disposals, mis-sold roof treatments, or even solar panels, our industry specialists will settle complex and high financial claims for you. We also do not take fees until our clients are reimbursed. Contact us today to get started on exiting your timeshare contract!

Consumer Reclaim Ltd is regulated by the Financial Conduct Authority in respect of regulated claims management activities, reference number: 835212. Registration is recorded at: https://register.fca.org.uk. Consumer Reclaim Ltd is registered in England and Wales, Company Registration number: 07223077. Information Commissioner Office number: ZA176000. VAT number: 144 4752 12