HELP - Inherited timeshare - how to escape it?

dingle_dangle

Hello everyone,

Just been told by our father in law that we will inherit a timeshare with an annual £1.5k maintenance fee, as the contract was taken out in perpetuity by his parents.

Is there anyway out of this either for him now?, or when we eventually inherit? (hopefully a long time from now).

For the record we have no intention of using it and he hasn't used it in over 20 years.

My understanding is that over 600,000 people still have timeshares in the UK so hopefully we are not alone.

Many thanks,

D

glentoran99

Some timeshares companies have sought to make the timeshare a part of a person's estate and so argue that the beneficiaries of the will are liable for the maintenance fees. That has no basis in law. There's no specific legislation on the point. Its just never made any legal sense. Whatever I sign up to, I cannot pass the debt onto you unless, of course, you are mad enough to agree to take on my debts which would make no sense. Nobody can be made liable for debts arising from a contract that they did not enter.


http://www.justanswer.com/uk-law/79i23-perpetuity-contracts-uk-legal-case-timeshare.html

kazwookie

Why does your father in law keep paying for something he doesn't use? @ £1.5K per year x 20 years..............................

I suggest what ever it is is sold.

dingle_dangle

He was told by the lawyers when his parents will was read that if he wished to inherit the estate then he must also inherit the timeshare and the annual maintenance costs. There was no get out clause available to him, or so he was advised. Hence he continues to pay in the belief that there is no alternative to him, that and the fact that the value of the estate outweighed the annual maintenance costs.

Raymondo111

dingle_dangle wrote: »

He was told by the lawyers when his parents will was read that if he wished to inherit the estate then he must also inherit the timeshare and the annual maintenance costs. There was no get out clause available to him, or so he was advised. Hence he continues to pay in the belief that there is no alternative to him, that and the fact that the value of the estate outweighed the annual maintenance costs.

Is the Timeshare in Spain or any of the Spanish Islands? If it is then Inperpetuity contracts have been declared illegal since last year, have a look at the Timesharetalk Website also have a look at Timeshareconsumers.org Website, there is lot's of information about inperpetuity and one of the main Timeshare Companies in Gran Canaria - Anfi is currently losing lots of cases and is having to pay out thousands of euros to owners who have been miss sold Timeshare.

bagand96

£1500 for 20 years! That's a frightening amount of money for something never used.

Others here have pointed you to some sources online. I'd get researching and get rid!

Keep_pedalling

What country does your FIL and where is the TS?