Timeshare remorse is common for most timeshare owners. Getting a timeshare refund can be possible, depending on the validity of why you want to be refunded. Timeshare refunds are not an entitlement, however, if you have been mis-informed when making the purchase or certain information was left out, you may qualify to claim back the money that you had spent.
Timeshare refund in cooling off period
If you have purchased a timeshare in Europe, timeshare resorts are legally not allowed to charge any payments during the cooling off period. This law came into effect in 1999, therefor, the sale of many timeshares purchased after this period have been declared null and void. The timeshare cooling off period is not the standard 14 days. The cooling off period could have been extended up to 12 months if the withdrawal form was not included in the original contract.
Timeshare refunds due to mis-selling
The timeshare industry has always had a bit of a bad name. maybe it’s due to criminals running timeshare operation in the 1980’s or maybe it’s because timeshare salesmen work on commission only. Either way, due to such unethical sales practices in the past, the EU Directive have enforced strict laws regarding the sales of long-term holiday products. Many timeshare owners are completely unaware that they are entitled to a timeshare refund.
If you have purchased a timeshare after 1999 and the following has occurred, you could be entitled to compensation.
- Timeshare contract being in perpetuity or having no end date.
- Deposits / money being taken within the cooling off period.
- Told that timeshare was a resalable asset.
- Contract does not state a set week number and unit number.
Timeshare maintenance fees refund
This one is a bit trickier. Generally, when the timeshare was purchased, you would have signed two agreements. One for the sale of the timeshare and the other with the management company. These are legally, sperate contracts between yourself and two separate companies. Even if you feel that the resorts are not being maintained, it will take a lot to prove to the courts, that the money you paid was not spent on maintaining the resort.
Unfortunately, this is the same whether you use the timeshare or not.
Who is entitled to a timeshare refund?
Use the free compensation calculator to find out if you are entitled to claim a refund.