Spanish timeshare probate

How to value a Spanish timeshare for Probate

If you are dealing with estate of someone who owned a Spanish timeshare when they died, you will need to get the Spanish timeshare valued for the purposes of obtaining probate.

Spanish timeshares are however notoriously difficult to value (it’s hard to give them away, let alone to sell them!) and just because a timeshare website lists a timeshare for a particular price does not mean that is its ‘value’ or that there is any chance of selling it for that price.

The annual maintenance fees often mean that timeshares are actually considered to be a liability of the estate rather than an asset.

Executors or lawyers dealing with an estate where there is a Spanish timeshare should however be aware that there may be a significant value in the cancellation of a Spanish timeshare contract.

This is because many Spanish timeshare contracts contain clauses that are actually illegal under Spanish law and as such can mean that the contract can be declared as void. There is also often a compensation claim associated with these illegal timeshare contracts which could be worth several thousands or even tens of thousands of pounds and can be claimed by the estate.

If the beneficiaries are not interested in inheriting a Spanish timeshare, it would be advisable to obtain some advice from a Spanish timeshare specialist lawyer about  how to can cancel the Spanish timeshare and ascertain if there is a valid Spanish timeshare compensation claim available to the estate.

For more information and a free, no-obligation assessment of a Spanish timeshare contract to ascertain whether the timeshare can be cancelled and if any compensation can be claimed, please get in touch on 01244 470 339 or at info@worldwidelawyers.co.uk.

Author: Sara Janion, overseas legal expert, solicitor and Notary Public