There can be many reasons why individuals seek to cancel their timeshare contracts. Situations change over time and what once seemed like an affordable holiday option can become an unwanted and unsustainable commitment. Even where an individual’s circumstances don’t change dramatically, rising maintenance costs, which are in no way linked to inflation or wage growth, and over which owners have no say, can turn an affordable timeshare into an unaffordable one over the years.

Unfortunately, extricating yourself from a timeshare contract is far from easy. Timeshare companies are extremely keen to encourage people to commit to their properties, but far less helpful when it comes to cancellations for timeshare contracts.

“When you’re trying to get out of a timeshare contract, the dream of resort property ownership can quickly become a nightmare. Terms and conditions definitely don’t favour owners when it comes to contract cancellation and many owners resort to trying to re-sell their interest in the property, often for far less than they paid for it, just as a way to be rid of it. However, there are other ways forward for owners seeking a way out.”

Jodi Beard, Timeshare Compensation

According to the experts at Timeshare Compensation, the first step is to take specialist advice in order to properly explore your options. There may be circumstances under which your timeshare contract can be cancelled without penalty. In some situations, it’s even possible that compensation may be owed by the timeshare company.

“In recent years, timeshare companies are finding that they can no longer ride roughshod over owners with hard selling practices and suspect contract terms. The Spanish supreme court is leading the way in challenging the legality of contracts that ignore the rights of owners and put them at a huge disadvantage.”

Belinda Rollins, Timeshare.lawyer

There have been numerous examples recently of contracts being deemed illegal by the Spanish courts. For example, did your timeshare company take any money from you during the cooling off period after you signed your contract? If so, there are grounds to argue that your contract is illegal. Alternatively, does your contract last for more than 50 years? ‘In perpetuity’ contracts have also been deemed illegal by Spain’s leading justice representatives, as have contracts for ‘floating weeks’ products.

Such rulings mean that cancellations for timeshare contracts are becoming easier for many owners. Not only that, but where contracts are deemed to be illegal, timeshare companies are often ordered to pay compensation to the owners. Compensation can cover not only the amounts paid for the timeshare, but also the cost of maintenance fees and interest over the ownership period.

“If you’re trying to get out of a timeshare contract, speak to timeshare contract specialists before proceeding any further. They can offer you impartial advice and guidance about your options, including the potential for any compensation claim.”

Jodi Beard, Timeshare Compensation

For more information, please visit www.TimeshareCompensation.co.uk, call 0800 046 5855 or email Info@TimeshareCompensation.co.uk.

Timeshare Compensation and Timeshare.lawyer are a trading names of Advanced Business Consultants Legal SL.

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