29 Jul TIMESHARE CLAIMS AND WHAT YOU NEED TO KNOW | YOUR RIGHT TO CLAIM
What You Need To Know About Timeshare Claims
To know everything there is to know about timeshare claims, you need to be first and foremost aware of all the details about timeshares.
A timeshare is a contract-based model of real estate, a vacation destination specifically, which is shared between the owners. This means that multiple owners share a property’s cost and holds the right to use the said property for a specific period, as assigned either by the company or decided amongst the owners.
“A vacation is having nothing to do and all day to do it in.” (Robert Orben)
Certain companies let their timeshare clients buy varied annual time bookings; however, the standard time is a week per year.
What Will It Cost To Exit My Timeshare Contract?
It costs around £4000-£5000 to exit a timeshare on average, in terms of money. In terms of your time spent during the process, it could take about 12-18 months. However, both these costs are not absolute. They depend upon several factors including how many other timeshare contracts are attached to the one that you signed.
Club La Costa and Diamond Resorts
‘Club La Costa’ and ‘Diamond Resorts’ have been known to provide their timeshare owners with ideal getaways, so they can relax and unwind with their families and friends. Club La Costa World is Europe’s largest independent resort operator.
Timeshare Claims – Why You May Be Entitled To Compensation
Timeshare companies are legally secure; hence, you should do thorough research before filing a timeshare claim against one of them. Following are a few key factors about timeshare claims that will give you a better chance of winning a claim, after having filed one.
The very first rule is to go over your timeshare contract paperwork line by line. If you are considering buying a timeshare, joining a holiday club, or reselling or exchanging your existing timeshare, you must find out what your rights are under the Timeshare, Holiday Products, Resale and Exchange Contracts Regulations 2010 .
The easiest and fastest way to succeed at a timeshare claim is to cancel the contract within the recession period. However, most owners are likely to miss this period, as these contracts offer somewhere between 4 to 15 days as the recession period. If for any reason you have missed the recession period, you can still make a timeshare claim through more complicated means; thus, it’s not impossible.
Timeshare Perpetuity Contracts
Timeshare perpetuity contracts have now been deemed illegal by Spanish Law. These contracts present a clear cut claim for timeshare compensation if there is no specific end date in your contract or if the date exceeds 50 years.
However, if you own a timeshare claim and are trying to get out of it, or if you are planning to sign one, you should consult with a legal professional and file for a timeshare claim.
Companies often trick the timeshare customers. Most customers don’t know that the contract they are about to sign is in perpetuity. Through these contracts, the timeshare companies keep extracting money from the owners in multiple ways, including aged owners who cannot use their property and can’t go there on holiday.
Timeshare Floating Weeks
Since timeshare owners are unable to book a holiday at their timeshare, many timeshare floating week contracts are being labelled illegal. A timeshare floating week is a timeshare contract that offers owners various dates to choose from, to enjoy their property during those dates or weeks each year.
This creates a lot of confusion, as most timeshare owners complain of not getting their desired weeks. All this confusion then results in property owners being unable to enjoy their vacation at the owned resort; it is the same property for which they are required to pay the maintenance fee, regardless of any mishaps.
Timeshare fails at its purpose of a pre-booked vacation by presenting the timeshare owners with an unpredictable holiday, using timeshare floating week’s contracts.
Timeshare Fixed Weeks
A fixed week timeshare contract lets you use the shared property for the same specific week each year. These contracts are generally deeded transactions. If you believe you have been mis-sold a fixed week timeshare contract in any way, you can file a claim.
The right-to-use contract system is a non-deeded transaction system in which the timeshare property owner is given a lease for their share of the property. In this contract, the developer maintains ownership and you are allowed access to the vacation resort or the property for a set amount of years – ranging between 20 and 99 years.
If the company has wronged you in a right-to-use contract, you can contact the respective authorities to file a timeshare claim against the timeshare company.
Points-based timeshare systems are sneaky and if you have one, you have a claim – it’s as simple as that. Most of these contracts are sold without mentioning the word ‘timeshare’ in the contract, which makes it a mis-sold timeshare contract. Not only do you have to make a huge amount of upfront payment, but you have to follow that with several other mandatory fees.
Timeshare points refer to the points that you collect by purchasing, and these can later be exchanged or traded for making reservations at the timeshare properties. This is very similar to floating week’s contracts, in a way that you have to contest with the other owners for specific weeks, and there’s no guarantee that you will be able to get the property at your desired time.
Timeshare companies have to offer you a cooling-off period. This means they are obliged to give you time to sit on your decision of buying a timeshare and think about it; the time is up to 14 days, minimum.
However, if you weren’t offered a cooling-off period, or if you decide against a timeshare purchase, your contract becomes null and void, and the company has to hand you over any payments you’d made so far in the process.
Mis-selling of Timeshare Contracts
If you believe that you have been wrongfully sold your timeshare, or if the company portrayed the deal other than what it actually was, you can file a mis-sold timeshare claim. Even if the timeshare company didn’t trick you via obvious means, i.e. perpetuity contracts or floating week’s contract, you still could have been mis-sold a timeshare.
Legally Cancelling Timeshare Contracts – Mis-sold Timeshare Claims
Mis-selling of timeshare contracts is a legal offence and offers grounds to file a timeshare claim against the selling company. Not only a mis-sold timeshare contract makes you eligible for making a claim, but it’s also grounds for legally cancelling timeshare contracts.
Seek Help from a Specialist Timeshare Solicitor
If you’re thinking of going up against a timeshare company, you must hire a specialist – a timeshare lawyer to help you in the procedures and speed up the timeshare contract termination process. According to Jeff Weir, ‘The value of a timeshare plummets the minute you buy it, and it depreciates faster than any car you’ve ever bought’, you’ll need an expert to get you out of such a dead-end contract.
Timeshare Claims Advice
To get the best, genuine, and unbiased advice, strong legal action, successful timeshare claim, and close-to-original refunding, seek the help of our timeshare team here at Right To Claim. Our timeshare advice centre is completely independent of the timeshare companies that are known to fund the timeshare ‘industry bodies’.
Have You Bought A Timeshare In The Last 10 Years?
If you’ve bought a timeshare in the last 10 years, you must be completely familiar with timeshare’s various contracts, timeshare claims, compensation claims, and how these two work.
However, if you have not bought one, but are planning to do so, read this article with utmost concentration. Resort suites, sunny beaches, and the relaxation they are said to bring sound too good to be true. Before you sign a timeshare contract, you must understand what you’re signing up for, and how to get out of it if the need presents, through timeshare claims.
Can You Reclaim The Full Cost Of Your Timeshare?
Yes, you can reclaim the full cost of your timeshare. However, full payment return is almost exclusively limited to new timeshare owners. New owners in certain countries/states are legally secured under laws that permit them to rescind their purchase for a full refund. If a new timeshare owner requests for contract cancellation, the company or the resort is obliged to refund the full cost to the client. Please contact us for further information.
People Also Ask
- Can you get your money back from a timeshare?
In almost all similar timeshare claim cases, it’s highly unlikely to get your money back from a timeshare company while trying to exit a claim. However, there are few ways to get a refund
from the company, and the most effective is to make sure you cancel the contract within the recession period. It might take a lot of effort to make the refund possible. You may have to consistently make calls and write letters to the company while contacting the legal departments for their help. Here at Right To Claim, we understand the process and can successfully help you get timeshare compensation as we have done for many other clients previously.
“Timeshare companies are the last legal fraud.” (Dave Ramsey)
- What is Timeshare Reclaim?
Timeshare reclaims refers to the process of trying to reclaim your money while exiting a timeshare contract. Although a difficult task, we have made multiple successful claims for various customers over the last few years.
- Can you really get out of a timeshare?
Yes, there are multiple ways to get out of a timeshare.
Even if you have missed the chance of claiming it during the recession period, another trick is to take a timeshare deed-back. This is a low-cost, legal way to get out of a timeshare by giving the property back to the resort.
The company then tries to auction off your property to other potential buyers. Look through your contract to see if there is an option for the deed-back in your paperwork. Contact us today for assistance in making your timeshare claim.
- Do timeshare companies take legal action?
Yes, timeshare companies are allowed to take legal action if their clients are no longer serving their purposes, or are trying to get out of their contracts. Certain actions from a client’s end are solid grounds for legal action from the company. Just like timeshare owners can approach the Supreme Court to file against a company, so can the timeshare companies. These actions may include:
- Foreclosure: Foreclosure is the process where the lender or the timeshare company takes legal action to gain possession of the property and sell it at an auction;
- Civil Court Notice: The company will be forced to sue you through the civil court, and send you notices in the form of calls or letters if you are late on your timeshare payment;
- Resort developers can also take a number of other legal as well as financial actions against their timeshare clients if they feel like the timeshare owners are trying to leave the company’s interest.
Are There Any Financial Benefits to Owning a Timeshare?
While certain financial benefits come with owning a timeshare, it is no secret that the timeshare companies have been looting their contract owners by misleading them and mis-selling timeshare contracts.
Timeshare Claims – Right to Claim
Timeshare contract owners find the drawbacks of these contracts a little too late, which is almost every timeshare company’s intention. Timeshare jurisprudence is extremely complicated with intricacies that keep changing constantly. This is one of the key reasons why timeshare owners find it difficult to file timeshare claims and even harder to win a court ruling in their favour, especially without getting professional legal assistance. You must be represented by a lawyer if you intend to file a claim.
Save Time With Us!
Seek the expert advice and timely assistance of timeshare solicitors at Right to Claim and let us help you eliminate the threat of any further losses. Contact us today for queries and advice.