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What are Fixed Weeks Timeshares?
Fixed week Timeshares were the original type of Timeshare. This type of Timeshare allowed consumers to purchase their desired unit and particular week number in a resort and country of their choosing.
The Timeshare membership would be bought, at a cost, then the unit and week would be available for the client to use for that fixed period in the selected apartment for a set number of years. Before 1999 the majority of these timeshare contracts were sold on an in-perpetuity basis. However, some Timeshare contracts were sold on shorter leases, from twenty-five to fifty years.
The advantage of fixed week Timeshare ownership was that your holiday was at a resort that you had purchased based on where you were happy to holiday in an apartment and time of year that was suitable.
In the early days of Timeshare ownership, many of the resorts offered superior facilities and services to the standard package holiday resort. It was one of the leading buying motives for many people. As such, many people in the UK would buy into a local Timeshare resort to be able to make use of the leisure clubs that were on offer at the resort.
Originally, Timeshare resorts were exclusive only to members. Unless you owned Timeshare at the resort, you couldn’t stay or use the facilities. The exclusivity and superior level of comfort came at an extra cost. This cost was a yearly maintenance fee charged to the owners at the resort. This maintenance fee was payable by the Timeshare owner for the lifetime of the membership. It covered the upkeep of the apartments and facilities.
Many thousands of people have had and still have fantastic holidays at Timeshare resorts. However, the landscape of Timeshare has changed. Many Timeshare owners that once paid minimal maintenance fees for excellent quality resorts now pay exorbitant maintenance fees for poor quality accommodation and standards.
The once exciting feeling of leaving the Timeshare as an asset in their estate has now turned to dread. The fear of leaving an unsellable and ongoing debt to a loved one has left many Timeshares owners looking for ways to Exit their Timeshare contracts and right off their maintenance liabilities.
If your situation has changed or you would like to get out of your Timeshare contract, then give us a call. We can make sure that you don’t have to pay maintenance fees anymore or have the worry of leaving a debt to your family.