Home > Ask Our Experts > Could We Just Stop Paying On Our Time Share?

Could We Just Stop Paying On Our Time Share?

By: Sarah Clark (ILEX) - Updated: 19 Oct 2010 | comments*Discuss
 
Could We Just Stop Paying On Our Time Share?

Q.

My wife and I bought a timeshare about 12 years ago and now want to sell but are having difficulty with this.

If we just cut our losses and stopped paying the annual maintenance would we just lose it or could we be taken to court to pay as someone told me?

(M.G, 18 March 2009)

A.

Because of the current economic situation, timeshares are not on the list of most people’s top priorities, so owners are in a situation where nobody wants to buy their timeshare property, and there is also a glut of unwanted timeshares that people have been trying to sell on because of their own financial position.

There has been a trend for timeshare owners who have been unable to sell on their properties to simply decide to stop paying the annual management fees and ask the resort to take back the ownership of their property.

Legally, this will put you into a difficult position, because part of your contract is that you should carry on paying the management fees, and you’ll be legally in breach of your timeshare contract if you default on this agreement. You’ll then be at the mercy of the resort. They may decide just to repossess the property – but they could take further action to recover costs if they can’t sell the property on themselves. Resorts are getting stricter because they are having trouble selling their own un-sold weeks, without having to deal with trying to sell on the weeks belonging to existing owners.

You could write to the company and ask them what their policy is on repossessing unwanted timeshares, and it’s also wise to seek independent legal advice about whether the club is legally entitled to take legal action against you if you default on your management fee.

One line of argument that you could use against a threat of legal action by the timeshare resort could be telling the resort that when you bought your timeshare, the sellers told you that it would be a good investment and that you would be get back all of the money you invested in it. If you haven’t had all of your investment back, you could try and claim that the original promise was untrue. Proving this could be difficult though.Some timeshare companies are resorting to taking defaulters to court for non payment of management fees as a standard measure, so you would benefit from taking legal advice on your own position. Take your agreement to the local citizen’s advice bureau, or find a solicitor who will give you a fixed fee interview, if you want to be really sure.

You might also like...
Share Your Story, Join the Discussion or Seek Advice..
Why not be the first to leave a comment for discussion, ask for advice or share your story...

If you'd like to ask a question one of our experts (workload permitting) or a helpful reader hopefully can help you... We also love comments and interesting stories

Title:
(never shown)
Firstname:
(never shown)
Surname:
(never shown)
Email:
(never shown)
Nickname:
(shown)
Comment:
Validate:
Enter word:
Latest Comments
  • locsel
    Re: Buying a Used Car: Your Rights
    bought AUDI TT tfsi 2011 52000 miles for 9900 on 20th aug 2019 after 6 days slave cylinder broke dealer took back to repair then…
    13 October 2019
  • Brogsy
    Re: Dealing With Cowboy Builders
    SA BUILDERS. ARMENIAN BUNCH OF UNSKILLED WORKERS. THEY SAY THEY DO EVERYTHING FROM GAS TO ELECTRICS. NOT A SINGLE TEST CARRIED…
    11 October 2019
  • Marls
    Re: What If Your Plumber Makes Mistakes?
    Plumer put new tap on got him back hot water runningslow fixed it charged £20 is that right
    10 October 2019
  • Henry
    Re: Dealing With Cowboy Builders
    Steer clear of Luke and Daniel Ray near Reading. Patio work overpriced. Payment demanded with threats to property. They may be in…
    8 October 2019
  • Ste65
    Re: Buying a Used Car: Your Rights
    we purchased a Ford Galaxy on a 58 Plate on finance. within first month it has work done on it by the Car Dealer.. ie-oil leak…
    28 September 2019
  • Giizmo49
    Re: A Guide to the Consumer Rights Act 2015
    I purchased a Sony TV for 3999£ just under a year ago. The tv has become defective through no fault of our own. The…
    28 September 2019
  • Glibly
    Re: How to Complain
    Had Recliner leather sofa’s for 4 months ( away from home one month). A working couple with no pets or children. Tear’s under cushions but Harvey’s…
    28 September 2019
  • Sarina
    Re: Buying a New Car: Your Rights
    Hi, I've just brought a new Qashqai on a 3 year lease, there seems to be a technical fault with it as it's costing me a…
    23 September 2019
  • Kim
    Re: When Cosmetic Surgery Goes Wrong
    Hi..had a mini tummy tuck 2 weeks ago. Absolutely devastated. Scar is really high and up to the top if my hip bones... I…
    21 September 2019
  • Upset
    Re: What Can I Do When Goods I've Ordered Don't Arrive?
    I purchased Keto Pure from Go Healths on 28 March 2019. I have being sending emails and they…
    17 September 2019