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Timeshares Frequently Asked Questions
Our team here at Mercantile Claims are always on hand to help you with any issues, concerns or questions you have regarding your timeshare contract. Below we have listed the most common questions we receive on a regular basis. If you have a more specific question please contact our team of experts and we will respond with an answer as soon as possible.
What Is The Meaning Of “In Perpetuity”?
The literal translation of the phrase is “for ever” and many timeshare contracts were sold on the premise of “in perpetuity” – meaning that sales people sold them on the basis that customers were getting a long-term investment that would be protected for the rest of your life.
In reality “in perpetuity” has tied many ownership of a timeshare potentially for generations to come. While it may have been proposed to a customer as a benefit at the offset, in reality many are facing mounting costs and fees, which will only be passed onto descendants.
Depending on the specific terms of your contract, the fees of the timeshare may not pass onto family members in the future, but this should be checked on a contract first.
Can I Get My Money Back On My Timeshare?
A ruling passed by the Spanish Supreme Court in 2015, ordered the Timeshare Group ANFI of Gran Canaria to pay a full refund of €40,000 to each customer, who was miss-sold a timeshare. This verdict has opened the floodgates for customers who are looking to get a Timeshare release.
Other significant legal victories including rulings against other resorts including Club La Costa and Pueblo Evita/Richvale have set a historic legal precedent, with a high percentage of Timeshares were sold under invalid circumstances.
How Long Will It Take Me To Get A Timeshare Release?
Obviously each case is dealt with on an individual basis, depending on the contract, jurisdiction under which it is governed and most importantly whether the contract the customer entered was miss-sold to them.
In general timeshare releases can handled with 3-6 months, sometimes these cases can be dealt with quicker or it can take longer. A timeshare release claim could also lead to a compensation figure if there are miss-selling and illegal practices employed by the resort.
Where is Jardin Amadores
Calle Montaña Clara, 4, 35130 Puerto Rico de Gran Canaria, Las Palmas, Spain