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DO YOU HAVE A QUESTION ABOUT YOUR TIMESHARE OWNERSHIP?
DO YOU HAVE A QUESTION ABOUT YOUR TIMESHARE OWNERSHIP?
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Banked Week
Dear Nicola, When a client has paid the maintenance fee and they are not going to use the week for example this year, they can guarantee it for up to two years. After the years, if they haven't enjoyed it, they lose it. It is also possible that if a week that is not used by the timeshare owner, butRead more
Dear Nicola,
When a client has paid the maintenance fee and they are not going to use the week for example this year, they can guarantee it for up to two years. After the years, if they haven’t enjoyed it, they lose it.
It is also possible that if a week that is not used by the timeshare owner, but is deposited in the resort or in an exchange company for someone else to use it. This week can be enjoyed at a later date or traded for time at another resort. Supposedly, by going to an exchange company, you can deposit your week and select another week for a predetermined period of time.
While certain timeshare companies sell rights to a specific destination only on a specific date, exchange companies allow their owners to exchange the weeks they have for weeks in other locations. To trade in a week, homeowners usually have to “deposit” it. When an owner performs banking operations in a week during a specific year, they renounce their rights and enjoy the week that year, and the timeshare company will add it back to the market for other owners or guests to enjoy it the same year.
See lessClub la Costa
Dear Brian440, Club la Costa has announced voluntary bankruptcy proceedings and it was published in the Spanish Official Bulletin (BOE) last December 2020. This means that the company has submitted a statement of insolvency and provisional liquidation in the Spanish Commercial Courts but this does nRead more
Dear Brian440,
Club la Costa has announced voluntary bankruptcy proceedings and it was published in the Spanish Official Bulletin (BOE) last December 2020. This means that the company has submitted a statement of insolvency and provisional liquidation in the Spanish Commercial Courts but this does not mean they are in bankruptcy or final liquidation. The aim of this Spanish legal proceeding is that they are looking for a way to pay their creditors in order to clear the company’s financial situation.
They have an external administrator who is the trustee in bankruptcy and who will manage the company during the entire proceeding. The amount of money that Club la Costa owe their clients, will be paid according to an order established by the trustee in bankruptcy.
Do you have a timeshare with this resort? Would you like to present your credits to the trustee in bankruptcy so that they are recognized and paid? Do not hesitate and contact us. Please do so by completing the contact form in this website and we will respond once we have reviewed your question.
See lessTimeshare Long-term
Unfortunately this is not an isolated event, one of the most common timeshare problems is that there is never availability at the resort. Most people buy timeshares with the idea of traveling whenever they want, because that's what the timeshare salesperson promised on the sale, and timeshare ownersRead more
Unfortunately this is not an isolated event, one of the most common timeshare problems is that there is never availability at the resort.
Most people buy timeshares with the idea of traveling whenever they want, because that’s what the timeshare salesperson promised on the sale, and timeshare owners have the idea that they can make a reservation at the moment they want to, but if you do a research on the internet, you will find many complaints about the availability of timeshare resorts.
Many timeshare owners report that even though they are paying their maintenance fees and annual fees, which are not cheap at all, they are never able to make a reservation. Even if I try to do it 6 months or 1 year in advance, the complex only denies the spaces.
One of the tricks of timeshare resorts and their sellers is that they sell 500 people the enjoyment of the same property
This is one of the reasons that people want to get rid of their timeshares, because they are never able to get to their destination.
Under the circumstances, whatever your problem, you have rights as a timeshare owner, and yes, you can get out of this timeshare situation. If you want to solve your situation and need more information, contact the professionals at Timeshare.lawyers
See lessDifferent Kinds of Timeshare
Dear Nicola, There are three types of timeshare programs: 1) Full ownership: You buy a current deed in the real estate sector, which is registered with the land court or other competent authorities and for which you receive a perpetual title. 2) Leasing: Offers the same basic property rights, protecRead more
Dear Nicola,
There are three types of timeshare programs:
1) Full ownership: You buy a current deed in the real estate sector, which is registered with the land court or other competent authorities and for which you receive a perpetual title.
2) Leasing: Offers the same basic property rights, protection, obligations and interests as the freehold system, with the exception that in leasing, unlike freehold, it is not in perpetuity and has a specific expiration date.
3) Right of use: You acquire the right to use a particular unit each year, but you do not have a property interest in the real estate sector. Your right to use that property will expire after a set number of years and the property will return to the developer or owner of the rental property. Legal ownership is usually conferred by a trustee.
Within these three types, there are three subtypes:
A) Floating Week: The user has neither a week nor an assigned apartment, although he does have a specific period of the year. Likewise, the user has to contact the complex to book the week he wants during the float period, and most of the times the rooms are generally reserved for those who arrive first, so it is very common not to be able to reserve. Legally, these contracts are void.
B) Fixed Week: This type of week does have an apartment assignment and a fixed annual week, but in case that is in perpetuity, we also speak of a null contract. The most common type is this one, in which the user has the right to use his timeshare unit during a specific week of the year, which will be the same week in the same unit every year. Supposedly, the advantage is that you know exactly when you go each year, but the reality is that this is at the discretion of the Resort, so if there is no availability and you are not able to go during that week, you will lose it without compensation.
C) Points: In a traditional point system, each unit / week of time is assigned a specific number of points based on its location, size, convenience, time of year, etc. These points are “spent” as money to reserve a unit for your next vacation. The owners can use, for example, 3 days here and 4 days there instead of spending a whole week in the same complex. The number of points you have determines what, where and when you can go.
If you have any doubts, do not hesitate to contact us. Please do so by completing the contact form in this website and we will respond once we have reviewed your question.
See lessMaintenance fees
Dear Stacey J, The Maintenance Fee clause in a Timeshare agreement is the “Trojan Horse” hidden away in the small print, which allows the Timeshare Group/Resort to change (i.e. increase) the Fees at their discretion. Unfortunately, because you have signed a contract agreeing to this and, whether youRead more
Dear Stacey J,
The Maintenance Fee clause in a Timeshare agreement is the “Trojan Horse” hidden away in the small print, which allows the Timeshare Group/Resort to change (i.e. increase) the Fees at their discretion.
Unfortunately, because you have signed a contract agreeing to this and, whether you realised it or not at the time, you are legally obliged to pay these fees throughout the full term of your agreement.
This situation is all too tempting for many timeshare groups/resorts, who have become used to simply pushing the Fees up year on year – and this habit shows no signs of stopping. There are exceptions of course but, as a general rule of thumb, it is estimated that timeshare maintenance fees double every 10 years. Therefore, if your Fees were £400 per year in 2006, they are likely to be around £800 per year in 2017 and would be £3200 per year in 20 years’ time.
If you want to get rid of this expensive fee every year, do not doubt that timeshare.lawyer are the right professionals to help you and to free you of that burden.
See lessSell my Timeshare
Dear Stacey J, Getting a timeshare can be very easy, getting rid of it not so much. Many tourists buy a timeshare with the intention of traveling around the world, others intend to buy the property as a financial investment, which is actually a very bad move, since you are not actually buying a propRead more
Dear Stacey J,
Getting a timeshare can be very easy, getting rid of it not so much. Many tourists buy a timeshare with the intention of traveling around the world, others intend to buy the property as a financial investment, which is actually a very bad move, since you are not actually buying a property, but you are only paying by fractional right or points of use a property, while some were practically forced to buy. Regardless of the reason, the truth is that many timeshare owners regret their purchase.
Unfortunately, this process can be very frustrating, to the point where many people are willing to sell their timeshare for just a few pounds, or even give it away.
Actually, one of the biggest complaints about timeshare is that the units are very difficult to sell, if not nearly impossible, regardless of what some people may say or have you believe. The main reason is because the supply far exceeds the demand. Statistically speaking, there are close to 500 timeshare owners who want to sell their properties for every prospective buyer.
Also, you should not have high expectations regarding expected earnings. A timeshare loses more than 50% of its original purchase price at the time the timeshare contract is signed.
So if you are one of those unfortunate people wondering, how can I sell my timeshare? We want to convey that the most effective way to get rid of your timeshare is by canceling the contract. Canceling a timeshare has many advantages, but the best thing is that once you cancel your contract, you will have no more financial responsibilities associated with the resort.
At Timeshare.lawyer we have the necessary and legal knowledge to cancel a timeshare contract, so if you want more information, do not hesitate to contact us.
See lessMaintenance fees
Dear Brian440, Timeshare maintenance fees are anual payments that are established and collected by the resort to keep the unit in top condition. The maintenance covers: utilities, site management, cleaning services, remodeling, insurance, taxes... Maintenance fees are generally assessed by the numbeRead more
Dear Brian440,
Timeshare maintenance fees are anual payments that are established and collected by the resort to keep the unit in top condition. The maintenance covers: utilities, site management, cleaning services, remodeling, insurance, taxes…
Maintenance fees are generally assessed by the number of units and weeks in a given resort, along with common areas, facilities, and operating costs.
It is also important to specify that these fees do not remain fixed. Due to changes in the economy, the maintenance of a timeshare changes every year. In some cases, a special charge is added to cover unpredictable operating expenses.
When maintenance goes up to the point that you cannot pay for it anymore, it’s best to nip the problem at the root, and the best way to do that is by canceling your timeshare contract. If you are not happy with your timeshare and you are struggling to pay for maintenance, contact us and get a consultation to discus your situation and free yourself from such costly maintenance.
See lessTimeshare Company in Liquidation
Dear Peter, This means that the company has submitted a statement of insolvency & provisional liquidation. This does not mean they are in bankruptcy or final liquidation. The aim of this legal proceeding is that they are looking for a way to pay their creditors in order to clear the company´s fiRead more
Dear Peter,
This means that the company has submitted a statement of insolvency & provisional liquidation.
This does not mean they are in bankruptcy or final liquidation. The aim of this legal proceeding is that they are looking for a way to pay their creditors in order to clear the company´s financial situation.
Club la Costa’s liquidation statement may affect you in several ways:
– If you have claimed Club la Costa to obtain the cancellation of your timeshare contract: You should contact your lawyers for advice on whether they have communicated your credit to the Bankruptcy Administrator. They will inform you of all the procedure to be followed from now on both in the Civil and Commercial fields.
– If you have not sued Club la Costa to obtain the cancellation of your timeshare contract and you do not want to do so because you are happy with it: Club la Costa seems to continue in the same way and you will be able to enjoy your holidays as before.
– If you would like to cancel the contract but your case has not been filed in court yet, It could be file it directly in the Commercial Courts. There is no reason to be concerned, given that this proceeding will be the same as if it was to go via the Civil Courts. This simply means that the clients will be considered creditors from the outset and then they will have priority in the eyes of the appointed Trustee in bankruptcy.
Therefore, please let us inform you that given that If you have not sued Club la Costa to obtain the cancellation of your timeshare contract and you wish to do so: Contact Timeshare.lawyers through the corresponding form.
See lessSpanish Compensation Claims
Dear Peter 1, In Spain, we have laws that update consumer protection in relation to Spanish companies that sell timeshare properties. These laws indicate that the consumer has to be informed of: - Timeshare contracts cannot be called “timeshare”. - Timeshare contracts cannot be tied to an undividedRead more
Dear Peter 1,
In Spain, we have laws that update consumer protection in relation to Spanish companies that sell timeshare properties.
These laws indicate that the consumer has to be informed of:
– Timeshare contracts cannot be called “timeshare”.
– Timeshare contracts cannot be tied to an undivided share of the property.
– Contracts will be drawn up in the consumer’s language and also in Spanish since the company that sells it is Spanish.
– Contracts must have a legible font size.
– Any pre-contractual information must be part of the contract.
– The contracts must include the name and details of the trading company as well as the name and details of the purchaser.
– The right of withdrawal must be included in the contract and must have been made known to the consumer before signing the contract. If the consumer wants to withdraw, this will not entail any cost; and all accessory contracts will be rendered ineffective from then on.
– The consumer has the right to receive at least one copy of the contract and its annexes.
– The property designated in the contract must be expressly stated in a public deed and must be registered in the Property Registry and registered in the Real Estate Cadastre. The consumer has the right to the descriptive cadastral certificate of the property as well as the distribution plan.
– In contracts, the property must be perfectly identified by cadastral reference.
– Contracts must clearly state the remuneration for the services and, where appropriate, the community expenses (maintenance fees).
– In contracts, reference must be made to the real or personal nature of the right transmitted.
– Contracts must include the price to be paid by the purchaser and, where appropriate, the taxes to be paid.
– The duration of the contract cannot exceed 50 years or be contingent on the future sale of the property.
– Contracts must show what services and facilities the purchasers are entitled to.
– The contracts must have the date of the day of their signature as well as the place where they were signed.
– Contracts must include whether or not there is a possibility to participate in exchange services.
* The consumer cannot waive the rights granted in Spanish Law since the property is located in Spain and the company that sells it is also spanish. In this way, the clauses of submission to laws of other member states that are normally included in the contract, are not valid.
Since there is a high probability that your contract will be void, do not hesitate and contact us to get it canceled. Please do so by completing the contact form in this website and we will respond once we have reviewed your question.
See lessMaintenance fees
Dear Stacey J, Our advice regarding the payment of maintenance fees is that the consumer pays them because as long as the contract nullity is not declared, the said contract is valid and the buyers are responsible of their payment, which is used by the resort at their convenience. However, the way tRead more
Dear Stacey J,
Our advice regarding the payment of maintenance fees is that the consumer pays them because as long as the contract nullity is not declared, the said contract is valid and the buyers are responsible of their payment, which is used by the resort at their convenience.
However, the way to proceed in terms of claiming maintenance fees may vary depending on the Resort in which you have your timeshare, so if you have filed a lawsuit against the Resort, ask your lawyers about it, in case they can get an agreement with the Resort.
If you have not submitted a claim to cancel your contract and stop paying maintenance fees, you could contact us privately, please do so by completing the contact form in this website and we will respond once we have reviewed your question.
See less