Purchasing a timeshare should be a great, hassle-free way of buying holiday time in a sought-after location. Many people do buy into timeshares and are completely satisfied with the returns it provides, however, as there are a vast number of companies in the timeshare market it is not surprising that some of these operate in a not-so-satisfactory way. The contracts and stipulations on offer can vary greatly between companies, so it comes as no surprise that some people feel they have been misled in the sale of their timeshare, feel trapped with an inadequate service or find they are struggling to exit their contracts when their circumstances change. If you feel you have been affected by any of the below circumstances, or have any queries about your timeshare contract, then contacting timeshare solicitors is key.
If your personal circumstances have changed and you can no longer afford your timeshare, there is a chance your contract could be dissolved. Your change in financial circumstances would have to be proven, but if this has been caused by bankruptcy or by being made redundant then you should contact a timeshare solicitor to discuss your case. Similarly, if you purchased the timeshare jointly as a couple, and either of you has since passed away, this could render the contract null and void.
If you feel that your timeshare was sold under misleading circumstances, then you may have a case for cancelling your contract due to a misleading omission. This can include both written information that is not factually correct, for example, the description of the property not matching the reality, maybe in terms of location or facilities included, or even verbal promises that were made by the company during the sale process, for example during the public sales presentation.
In Perpetuity contracts
An ‘in perpetuity’ timeshare contract is a contract term that exceeds fifty years, which is the maximum legal contract length. You will more than likely have a case for termination of your contract if your timeshare was sold to you either without an end date or with a date that was more than fifty years ahead of the date on which you signed your contract.
Purchasing a timeshare with floating weeks can be a great option as this should give you complete flexibility on when you want to use your allocated holiday time each year. However, this often causes issues as competition can be fierce for premium times. This means many people often end up wanting to book the same weeks, in the same location, at any given time. If you can’t be flexible with your dates you may lose out on using your allocated time altogether, but find you still have to pay your maintenance fees.
If, for whatever reason, you find you just don’t use your allotted week(s) anymore and want to break out of your contract then reselling can seem a good solution and a quick fix. However, beware of companies offering to do this for you. Often you will be asked for an upfront fee, and hidden small print can often see you out of pocket and still in possession of your contract.
If you have been affected by any of the above issues it is advisable to seek legal advice as soon as possible.