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Signing A New Timeshare Agreement

Posted on March 17, 2017

Signing A New Timeshare Agreement

Has your resort asked you to sign a new contract? We are trying to advise all Timeshare owners who are currently being asked to sign new contracts to be very wary and to make sure they are fully aware of exactly what they are signing before they do so as many resorts do this to eliminate the risk of future compensation claims.

Due to laws changing and the increase in Timeshare owners seeking compensation many Timeshare resorts are now asking their owners to sign new contracts to either upgrade or change their ownership, however by signing a new agreement depending on the wording this may contain a clause where it makes all previous contracts signed null and void.

For a few examples the resort might advise you that they are upgrading your unit to either a larger unit or in a better location on the resort (the resort may state that they are changing some apartments into private rentals) or sometimes the resort as a whole will advise all owners that they are now converting their weeks to a point system, which they explain as a great opportunity as clients can then use their Timeshare at any time of the year. This of course is usually not the case as owners then find it difficult to get availability for the week/weeks they request. Both of the above can be used by the resort just as a reason for clients to sign the new contracts to waiver any rights for any compensation claims in the future on current and previous contracts.

On the other hand, if you have already signed a new contract and the resort is claiming that you have already waivered any rights to any previous contracts signed you can ask them for a copy of exactly what you have signed to ensure that they are giving you the correct information. It must be stated on the documentation that you have signed for this to be true.

Providing that there is nothing within the new contract that will affect any future claims you may wish to pursue (bearing in mind that although you may be happy with your Timeshare now in the future this may not be the case) and you are happy with the change or upgrade which the resort is offering then signing any new contracts will not be an issue.

For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk

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