We have recently heard of many Timeshare resorts in Spain offering enticing deals. One example we learned of was at Anfi resort in the Canary Islands.
While we applaud their efforts for legalising contracts, it is often unclear for the owner as to the reasons why!
Some of the offers on the table have included an “upgrade” of your contract with Anfi, They will change your floating weeks to fixed weeks and you will get a fixed apartment number – These can be called, for example, “flexiweeks” and in theory the idea is great as you should be able to exchange these for any week or apartment. Unfortunately, you still face the same problem as with floating weeks, the weeks you want are not available in most cases.
You could also face additional charges in the form of exchange fees.
As part of this upgrade you will also get a 50 year contract. All of this means that if you own an ILLEGAL TIMESHARE and you ‘upgrade’ your contact, YOU LOSE YOUR RIGHT TO CLAIM YOUR MONEY BACK.
This will affect any one who has a contract for FLOATING weeks or a contract without an end date on (perpetuity).
If you are in any doubt about your ownership, or the effect any changes may have, contact our office for advice and a full legal check of your ownership.