Throughout the past decade, there has been a remarkable influx of claims being processed against the timeshare resorts, the most common cases being those targeting RCI, Silverpoint, Club La Costa & Anfi.
If you’re a timeshare owner and you’re looking to exit your contract and claim compensation from your resort, it can be difficult to know where to start. To help you understand your rights, we are here to help!
Firstly, you should make sure you understand the type of contract that you signed because this is one area where contracts can be found to be null and void.
Secondly, think back to where and when you signed your contract; this is important to establish jurisdiction and where your claim can be brought. The resorts and companies which are detailed in the contract are often registered in a different country altogether! If you signed for your ownership in Malta, your contract could be governed by the laws of the British Virgin Islands.
There are other areas of the contract which the Supreme Court in Spain have found breach the relevant Timeshare Law. In particular, another key area is the length of term of the contract. If it lasts over 50 years, or is in perpetuity (no end date), then these are areas where the courts have deemed these contracts null and void and successful claim awards have been made.
The perpetuity clause is one which has left many families with concerns because when the timeshare owner passes away, the ownership and payment responsibilities get passed down to their relatives; which is a common reason why disgruntled owners are eager to get rid of their contract as quickly as they can. That way, they can get the peace of mind for both themselves and their family members.
If you have any questions about your timeshare contract or simply want some advice regarding it, you should begin your compensation process as soon as you can.
Here at O-YOO, we can assess your contract, highlight the elements which may make you eligible for a claim, and guide you through the process.