3 of the most common illegalities in timeshare contracts
Here at VRC Claims, we are contacted often from owners asking how they can prove their contract is illegal. There are many things that could null and void a contract, however, there are 3 common illegalities in timeshare contracts to look out for.
Is your contract in perpetuity?
Your timeshare might have been sold using the perpetuity clause as a bonus. Its sounds great to know that your timeshare will belong to you forever, right? But what happens if you are no longer able to travel and your family do not want to take on the burden of paying the annual maintenance fees? Timeshares were sold in perpetuity as a way of locking owners into paying maintenance fees forever. These will then be inherited by others if you were to pass away. Timeshare contracts are only allowed to be valid for a maximum of 50 years.
To find out more information on the perpetuity clause click here www.vrcclaims.com/timeshare-perpetuity-clause
Once a timeshare resort runs out of apartments to sell, they often created floating weeks. Floating weeks cannot be sold as essentially you do not own anything. Your contract must clearly indicate a unit number and a set time the year that you own. If your contracts only describe the product you own as a floating week then your contract can be null and void.
Were you asked to pay upfront fees? Upfront fees are classed as any payment made on the day, whether it be in full or by deposit. The EU Directive stated that all holiday ownership products must be sold with a 14 day cooling off period in which no fees are allowed to be taken. Timeshare resorts asked for upfront fees to make the cancellation process more difficult.