Timeshare law is very detailed and specific, designed with consumer protection in mind. However, timeshare companies have continued to issue defective contracts, apply high pressure sales techniques, and sell a product that falls far short of that promised.
If you’re answering yes to the following questions you might have a claim:
- Do you own timeshare in Spain?
- Did you make your timeshare purchase after 1999?
- Did you buy it directly from the developer?
- Did you sign a finance agreement either with the resorts own finance facility or with an independent finance company?
- During the sales presentation did you experience any pressure, mis-representation or unfulfilled promises?
- Did you have to pay any deposit at point of sale or during the following 14 day cooling off period?
Timeshare developers have also been known to ‘bend’ the truth in their sales pitch. If you were mis-informed or the product mis-represented during the sales process you may have a case.
Think back to when you were talking with sales advisors – were you told:
- This is an investment which will increase in value;
- When you don’t want your timeshare week anymore we will buy it back at full price, and rent it out until sold;
- Your maintenance fees will only increase in line with inflation;
- You can always exchange your one bedroom into a two at no extra cost.
If so, you might have a claim.