Timeshare resorts are unable to force owners to stay in unwanted timeshare contracts. Everyone qualifies for a timeshare relinquishment and there is usually a charge for this service.
Other than waiting out the duration of your timeshare contract, you are obligated to pay a termination fee to break the agreement between yourself and the timeshare company.
If you purchased your timeshare in Europe after 23 February 2011 the termination fee must be clearly stated in your timeshare contract along with a withdrawal contract.
A timeshare relinquishment can be achieved in 2 ways:
Giving back to the resort
By giving your timeshare back to your resort you would need to pay the termination fee stated in your contract. This could be a one-off payment to end the agreement or a sum equivalent to a fixed amount of years maintenance fees.
You cannot simply walk away from your timeshare. You have a legally binding contract agreeing to pay maintenance fees for the upkeep of the resort for the duration of your ownership.
If you fail to pay your maintenance fees a country court judgement would usually be issued once your debt reaches a certain amount. Before any timeshare can be terminated all maintenance fees must be paid up to date.
Finding illegalities within the timeshare contract
A timeshare relinquishment can be achieved by finding illegalities within the contracts. Once you have relinquished your timeshare, you will no longer be responsible for your ownership, including maintenance fees. Also, depending on when and how you purchased you could be eligible to submit a claim under the grounds that your ownership was mis-sold.
Can I claim back money after a timeshare relinquishment?
Use our compensation calculator to find out if you are eligible to submit a claim. We will send you information via email to inform you of the best route to take for your situation.
Speak to a claims specialist
If you would like to speak to a claims specialist for more information in regards to submitting a claim, you can book a free telephone consultation with one of our recommended claims management companies.