Timeshare ownership, or as it is more commonly called: – Holiday clubs or fractional ownership has been sold in Spain for decades.
Typically, a client was sold a ‘week’ in a specific resort for an average of £30,000. Usually this money was paid, via a UK bank finance agreement. The sales strategy was very aggressive and involved luring tourists into a high-pressure group seminar. These went on daily in all the big Spanish resorts throughout the 1980’s, 90’s and 2000’s. The industry norm for success was that 1 in 6 clients would sign up on the day.
Part of the sales pitch was to inform potential clients that there was a strong and active second-hand market if they decided to ‘sell’ their timeshare contract in the future. Sadly, no such market exists.
During the purchase, no cooling off period was given, and customers were asked to sign a legal purchase contract and a loan agreement following the seminar.
An annual management or maintenance fee for the upkeep of the property and communal areas of the resort was written into the contract. Initially this fee was affordable. But as the years went on the fee grew disproportionately, to the extent that some owners now pay a maintenance fee that is more than the weekly cost of renting a holiday home or hotel in the same resort.
Today, the clear majority of timeshare owners would like to exit their agreements but believe they can’t because of their contracts.
These contracts and the associated management/ maintenance fees are written in perpetuity.
The obligation to pay these fees forms part of the owner’s estate and the liability is passed on after death.
It took many years, but eventually Spain’s Supreme court ruled that almost all timeshare contracts sold since 1999 are deemed inherently unfair and unenforceable.
This will come as great news to the hundreds of thousands Spanish timeshare owners who want to both free themselves from their costly timeshares and avoid passing the burden on to their children or spouses.
Hundreds of owners are having their contracts declared null and void every month, but because the action is usually resolved in the Spanish Courts, legal advice and representation is almost always necessary.
The courts’ decisions to declare timeshare contracts null and void are based upon Spanish law, confirmed by the Spanish Supreme Court on 15th Jan 2015.
So, if just one of the following is true for a you as a Timeshare owner, then the potential is there for a claim to be made against the resort for the contract to be declared Null and Void.
What’s more, if the case is won, you may also be able to recover up to 90% of the amount you initially paid for the purchase of the timeshare:
- You paid ANY money in the first 90 days after signing the contract. (Most customers took out loan agreements on the day, which qualifies as payment).
- The timeshare contract was in perpetuity(Most contracts were written for 50 years or more, which qualifies).
- The owner purchased a ‘floating’ week, not a fixed week on a specific property. (Although applying to specific resorts, this practice was widespread).
At Reclaim In Spain we have developed a ‘Timeshare Exit Strategy’ for owners to have their contracts declared null and receive back up to 90% of the purchase price.
We work on a ‘No Exit No Fee’ basis, so we only get paid if the contract is declared null and void and the purchase price is recovered.
So how can Reclaim in Spain help?
At Reclaim in Spain, we have been representing those that have lost money in Spain for many years. We are a U.K based company with over 50 highly trained staff and offices in Spain, we pride ourselves on our relationship with our clients and our success rate.
Once you have submitted your claim using the online form (which we can complete with you by ‘phone), you will be given your own case manager, who will contact you direct to see what supporting documents you have and to make sure you understand the process as well as answer all your questions.
The process is easy to follow, and we do all the hard work for you.
We work closely with one of the most successful solicitors in Spain preparing your case before they represent you in the Spanish courts. They have acted on behalf of more than 150 clients, winning 97% of the timeshare claims they have submitted. The vast majority of which were for UK residents.
Stop paying high maintenance fees for your unwanted timeshare and don’t burden your family with this bill in the future.
It’s time to get out of your Timeshare.
We have helped many people exit their timeshares and we have an expert team that can also help you with Timeshare Relinquishment.
To Relinquish your Timeshare essentially means that you are giving your timeshare back to the developer or resort.
This can be difficult, particularly if a timeshare owner has or is planning to approach them directly and request relinquishment. In the wide majority of cases, it is unlikely they will be willing to accept the timeshare back and therefore the owner will need to seek professional and legal help in order to do it.
For most trapped in a timeshare they do not want, it can be very hard and may feel like there is no hope and no way out.
Here at Reclaim in Spain, we aim to help those who feel like they have lost everything. We have a proven record of changing lives- giving hope back to people like you.
Why are you any different?
How it Works
Once we have completed our review, if we confirm that we can take your case, we will offer you our agreement and send you our case pack to fill out.
We will do all the investigation and writing for you so you can sit back and wait for our updates. We will then ensure you are updated throughout the process- all the way to the final stages.
Once we have gathered evidence and analysed your contract, we will write a letter to your developer or resort explaining how they have breached the contract and offer them the timeshare back (due to the breach of the contract).
Our fee structure for timeshare relinquishments is £1,995 plus VAT at the agreement stage when you sign our contract to say you would like us to work the case for you.