5 Ways to Get Rid of Your Spanish Timeshare
There are various ways of cancelling a Spanish timeshare depending on your circumstances. Here are 5 ways in which you can get rid of your timeshare in Spain and the pros and cons of each.
1. Make a Spanish Timeshare Compensation claim
If you have a Spanish timeshare that you want to get rid of it is possible to cancel your Spanish timeshare and get compensation. There are various legal formalities that need to be observed in relation to Spanish timeshare contracts which have been routinely ignored by timeshare sales companies.
It is therefore usually possible to submit a claim by proving that the timeshare agreement was mis-sold, made illegally or that you have not been given the required information or what you were promised.
It is easy and free to find out if you are eligible to make a Spanish timeshare claim and the claim amounts are often in the tens of thousands of euros. Worldwide Lawyers can arrange a free, no-obligation review of your timeshare contract to confirm if you are eligible to claim and, if so, how much.
A word of caution, whilst the timeshare claims offer a great way of getting out of your timeshare with the benefit of a lump sum payment to boot, there are a number of dubious companies purporting to assist with these claims looking to relieve you of even more of your cash. To make sure you are using a reputable company, have a read of our article Are Spanish timeshares claims a scam?
For more free information or a recommendation for a reputable and experienced law firm to advise about making Spain Timeshare claims, contact us on 01244 470 339 or contact us at info@worldwidelawyers.co.uk
2. Sell Your Spanish Timeshare
This is probably the hardest way to get rid of your timeshare. Many people are aware of the negatives of purchasing a timeshare in Spain, which has severely affected the sale value (if they have any value at all) and makes selling many timeshares practically impossible.
If you have managed to find a buyer for the timeshare, whether privately or via a resale company, it is strongly advised to seek professional assistance from an Independent Spanish lawyer ie a lawyer who is not connected with the sales company. The timeshare industry is unfortuntely plagued with scammers and so independent advice should always be obtained before proceeding.
3. Spanish Timeshare Relinquishment
If you are not trying to recover the money that you have spent on your Spanish timeshare, terminating the timeshare agreement can relinquish you from your ownership and any responsibilities of maintenance fees. A timeshare relinquishment is often done by finding illegalities within the contract that gives you grounds for termination. The Spanish courts have deemed a staggering number of timeshares as mis-sold products.
This may provide the solution but in relinquishing your Spanish could mean that you miss out on the potential to claim thousands of euros in compensation.
Again, there are many schemes designed to prevent you being able to make a claim for compensation and so you should properly consider all of your options before proceeding.
4. Pay the termination fee
When you purchase a timeshare, you must be given a withdrawal contract that highlights the costs to terminate the agreement. This is a fee that must be clearly stated and explained before you agreed to purchase the timeshare. If the fee was not explained in writing you could qualify for a timeshare compensation claim (see above). The termination fee is often higher than the fee for summiting a timeshare claim, with no possibility of getting any money back either.
5. Gift your timeshare to a friend or family member
You are usually allowed to gift your timeshare providing that you explain all information including termination fees and maintenance costs. This must be done professionally to ensure that the timeshare properly passes, all related fees are paid and that your friend/ family does not receive a burdensome liability rather than an asset!
Worldwide Lawyers regularly assist Spanish timeshare owners with Spanish timeshare compensation claims in relation to Spanish timeshares run by Marriott, Anfi, Palm Oasis, Diamond, ONA Group and many more!
