Hello there, I have a timeshare in Costa Del Sol and my health has deteriorated over the last few years. I would just like to ask, in the even that I die, what would happen to my timeshare?
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Dear Stacey,
I am sorry to hear about your health, I also understand that when you have health issues, you do start to think of things like this.
To answer your question, when a timeshare owner dies, the timeshare becomes part of the estate and the inheritors become the new owners and they are obligated to take over the timeshare fees. If the timeshare is unwanted, they will not be required to pay the fees.
Since old timeshare contracts typically include “in perpetuity” clauses, owners can be tied to these for life and they are then passed to next of kin. The “in perpetuity” clause basically means no end date. In Spain “Perpetuity” contracts are illegal and a lot of the timeshare resorts still active, do not have this clause in new contracts anymore but there are thousands of old contracts that still do. Check your contract and see if you have an “in perpetuity” contract or not.
In summary I don’t think you need to worry as they cannot be forced to pay the fees if it is unwanted.
Should you want further clarification, please don’t hesitate to contact us.