Buying a timeshare might have seemed a good idea at the time, but you may well of thinking that you need to exit. Perhaps flights are too expensive. Maybe you fancy going somewhere else for a holiday. Or possibly maintenance charges have become too high. If you are thinking of putting an end of your timeshare in Spain, continue reading to discover the best way to do so.
The Secret to Discovering Your Timeshare Contract is Illegal
By far the easiest way to end your timeshare slavery is if your contract is illegal. By getting a legal decision to declare your contract null and void you terminate your contract and can usually getting compensation.
At Costaluz Lawyers, we like to think of this as a win-win situation and over the years, we have helped many timeshare owners gain their freedom.
Did you know? The Timeshare Consumer Association recommends Costaluz Lawyers.
But how do you find out if your timeshare contract is illegal? The good news is that there’s a long list of reasons why a contract can be declared null and void. They include the following:
If your timeshare contract makes no specific reference to a particular week(s) in the year, but refers instead to ‘floating’ weeks, your contract is illegal.
Read about how the Spanish Supreme Court upholds its doctrine on floating timeshare.
Any contract with a validity of more than 50 years is illegal.
No end date
If your contract does not include an end date, ie the date until which it is valid, it’s illegal.
Mention of property
Read your contract carefully and look for the words ‘multipropiedad’ or ‘propiedad’. Found it? Then your contract is illegal.
Did you know? Most timeshare contracts signed in Spain are null and void and therefore do not legally exist. You are therefore under no obligation to make payments to the timeshare or maintenance company.
No Mention of Specific Property
If your timeshare contract fails to mention a specific property within the complex, ie its exact location and designated number, it’s illegal.
Payment made during cooling-off period
Under Spanish law, timeshare buyers are entitled to 14 days cooling off after they signed the contract. During this period, they are not obliged to make any payment or deposit towards the timeshare. If you did pay, your contract is illegal.
No knowledge of cooling-off period
Perhaps you didn’t know about the cooling off period because the timeshare company ‘forgot’ to mention it. If this is the case, your contract is illegal.
Non-compliance with 1998 law
If your contract fails to comply in any way with the 1998 Timeshare Law, it’s illegal.
Linked to indivisible share
If your timeshare contract is linked to an indivisible share, it’s illegal.
No change in contract since 1998 law
If you signed your timeshare contract prior to 1998 and it hasn’t been changed since then, it’s also illegal.
How to Exit Your Timeshare
As you can see from the above list, there are myriad reasons why your timeshare contract could be illegal.
And it’s highly likely that yours is. If you think it might be, what should be your next step?
- Get in touch with a reputable timeshare lawyer to ensure your contract is illegal.
- If it’s confirmed, stop making payments to the timeshare company. If you like, send a letter informing them of your reason for discontinuing with payments. However, you are under no obligation because your contract is null and void.
- Consult your lawyer on how to obtain compensation.
Getting Compensation For Illegal Timeshare Contracts
Should your lawyer ascertain that your contract is null and void, they may advise seeking compensation through a court case. A favourable sentence not only gives you official recognition that you have ended your timeshare slavery but opens the door to getting money back.
And the good news is that you have a good chance of obtaining a refund of a sizeable amount you paid since the start of your contract plus legal interests. Since mid-2016, Supreme Court sentences have obliged timeshare companies to refund over €450,000 to clients.
Get in Touch
Costaluz Lawyers are recognised specialists in timeshare claims. If you believe your contract contains an illegal clause, contact us for a free consultation. Our team is more than happy to help you put an end to your timeshare slavery.