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People leaving Timeshare

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  • People leaving Timeshare

    I was looking at the AGM report for Palm Oasis held at end of November 2017. They report that since 2012 1151 owners have terminated their contracts 1026 of these are from 15 to 17 and another 247 going through the termination system they also show that nearly as many weeks have been let to public at a higher price than maintenance fees. I think there are about two hundred fifty apartments so this means approx. six have left for each apartment but if they are letting them out they are well in pocket

  • #2
    This will be due to the 1999 property law that classes timeshare in Spain as property and so comes under the same rules


    • #3
      The reason they have left is because palm Oasis after losing a few cases on the over fifty year contracts decided it would be cheaper to offer people who wanted to get out to allow them to go and pay the contract holder a settlement fee


      • #4
        And the most curious thing is that for Palm Oasis is cheaper to pay a small amount to recover the week than not receive it for free. It seems to be, according to his lawyer, a matter of taxes and deductions ...


        • #5
          Looking at Palm Oasis website I see that renting two weeks in September will cost 1385.02 euro the members maintenance fee is 840.24 euro this is a difference of 544.78 euro this is why I think they are trying to make it into a hotel and get rid of members so they can make more money without the bother of AGMs etc