Timeshare Consumers Association
The options for getting out of timeshare ownership are:-
- Sell to another consumer. The demand for timeshare is at an all time low with almost all weeks in mid- and low- season, floating weeks and points being totally worthless . Only fixed high season weeks in top quality resorts appear to be selling although prices are only a tiny fraction of what the owner originally paid. THere are now an estimated 400 owners wanting to sell for every prospective buyer - the chances of making a sale is almost NIL
- The best chance of making a sale is through an honest resale broker recommended by TCA. Once you have decided which broker(s) you want to deal with, do not fix a specific price but say offers which increases the chance of making a sale. Remember that, as from 23 February 2011, it is a criminal offence for a re-sale broker to take any money, for any purpose, from a seller (or buyer) until a sale has been completed. See Here
- An advertisement in your resort or club might find a buyer. But many resorts block such adverts because it indicates the poor resale value of the ownership to other owners or potential owners. And others advertise at prices which are too high to achieve a sale.
- Alternatively an advertisement on eBay; in a local shop, post office or your place of work might be effective.
- But a paid-for advert in a newspaper is a almost certainly a waste of money.
- Hand back the ownership to the resort or club.
- Some resorts offer a free “Get Out” to any owner who writes to request termination; others only provide this opportunity to those who are over 75 and/or are unable to travel or are "bust" - see National Debt Line for advice.
- A number of traders are offering a “Buy-Out" scheme to enable owners to terminate their ownership.
WARNING: Almost all of these "Buy-Out" schemes are frauds - be VERY careful. !
- "Walk away" by stopping payment of the annual fees. This is still an effective method, but a small number of timeshare companies are threatening to take defaulters to court, although most are still "threateners" not "doers"
- Some owners who have been taken to court have successfully defended claims on the grounds of misrepresentation at the point of sale. as well as the original contract being "null and void" and/or being out of jurisdiction
- A list of the more aggressive companies is here
- If you actually receive a County Court claim (or a Sheriff Court warrant in Scotland) for un-paid fees see here
- If you receive a European Order for Payment ("EOP") see here
- Trade in your ownership for a week(s) in a totally different resort. If your present ownership is not delivering the quality and reasonably priced service that you want then it is possible to get out of that ownership in exchange for ownership in another resort – all for a very modest cost. Talk to any on the TCA recommended list of resale brokers.
- Charities are no longer interested in taking over timeshare ownership. But see Here
- If you have a temporary cash problem then consider:
- Renting out your week(s)to provide a temporary respite from the annual fees see here
- Arranging a payment scheme with the resort/club
- NOTE: If you are left a timeshare in a will of a deceased person you are entitled to reject the bequest by writing to the executors of the will “disclaiming” the bequest. The timeshare ownership then reverts to the executors.
- There are numerous fraud companies offering to relieve you of your timeshare liability. Do not do business with anyone who cold calls you or advertises such a service in a newspaper. on TV or on the Internet. You will end up many thousands of pounds poorer and still own the timeshare. See here
- Even if you do actually find a buyer some resorts refuse to effect a transfer because they "don't like the buyer" or give some other spurious reason. Whilst this is an illegal interference in a proper contract it may be impossible to complete the sale. In some cases the resort may kill the sale by imposing an exorbitant "transfer fee".
- Your resort/club may offer you a deal to get out you pay them a lot more money and they promise to release you from the continuing obligation to pay. Which looks distinctly like extortion ! AVOID.
Legal Action by Resorts/Clubs
The following companies/clubs/resorts have threatened legal action for non-payment of annual fees, sometimes using debt collectors or solicitors (and even bogus lawyers !). If you are being chased for payment of annual fees please read here
Resorts that are known to have actually taken legal action in the last year or so (not always with success ! ) are marked with "X"
- Access 2 Leisure - Malta
- Akeld Manor - England "X" ( see Here )
- Anfi - Gran Canaria
- Beverley Hills Club & Heights - Tenerife.
- Brantridge Park - England (contact)
- Canaltime/Abacus - England
- Chayofa - Tenerife
- Classic Narrow Boats - England ( see here )
- Club Algaida - Spain "X"
- Club Riza - Malta
- Clube Praia D'Oura, CPO - Portugal ( see Petchey, below )
- Dames de la Mer - Turkey (See Here )
- Diamond Resorts - Europe (See here )
- Diamond Club Las Calas - Lanzarote "X"
- Diamond Club Calypso - Lanzarote "X"
- Elite Club - Fuertenventura
- Exclusive Club - Malta
- Fairways Club - Tenerife
- Flexi-Club - Europe
- Hollywood Mirage - Tenerife (see Resort Properties/Silverpoint, below)
- Jardines del Puerto - Spain
- Kingswear Park - England
- Lakeview Country Club - England "X"
- Loch Rannoch Highland Club - Scotland "X"
- La Quinta - Spain
- Las Brisas - Lanzarote
- Las Rosas - Tenerife
- Los Clavelos - Tenerife
- Los Molinos - Lanzarote
- Macdonald Resorts - UK resorts"X"
- Macdonald Resorts - Spanish resorts
- Nerja Owners Association - Spain "X"
- Palm Beach - Tenerife (see Resort Properties/Silverpoint, below)
- Palm Oasis - Canaries "X"
- Petchey Leisure - Europe ( see Here )
- Resort Properties/Silverpoint - Tenerife
- Resort Solutions - Europe "X"
- Pueblo Evita - Spain (see here )
- Rhinefield House - England "X"
- Shakespeare Classic Line/Management/Avante - England & Turkey ( see here )
- Silverpoint/Resort Properties - Tenerife
- Sunny Coast - Malta
- Sunterra - Europe (see here )
- Stouts Hill - England "X"
- Vistamar - Portugal
- Wimpen Resorts - Spain
If you have information of names missing from this list please contact us