Death, Timeshare and Inheritance
An unwanted timeshare is a stressful financial burden. If you are reaching retirement, you may be even more aware of the drain of your timeshare on your bank balance. Many people nearing retirement worry about whether they will have enough to live on during their twilight years, and most are also concerned that their children will be comfortable after their death. That’s where the murky waters of timeshare and inheritance can cause many people to lose sleep.
What will happen to my timeshare after I die? Will my children be forced to inherit my timeshare?
Let’s clear a few things up.
If you are concerned that your timeshare will be passed on to your children after you die, then you need to find out if your timeshare contract includes a perpetuity clause. Timeshare contracts that contain this clause are those which plan to continue to wrap your children up in the same timeshare nightmare as you have been stuck with. And now they’re illegal.
Hundreds of cases have come to court recently disputing perpetuity contracts, and where the clause is found, the claimants have won. In these cases, claimants have been awarded compensation, payment of their legal fees, return of all paid sums, and annulment of their timeshare contract. So if this applies to you, it is urgent that you contact a timeshare lawyer immediately.
Advice on Timeshare and Inheritance For Offspring
If you are reading this as the concerned offspring of parents tied into a timeshare contract, then it is also vital that you take action. If your parents are sick or aged, then you must take responsibility for ensuring that they are no longer bound by an illegal timeshare contract. You will need to get legal advice as your first step, rather than contacting the timeshare company directly.
This is because informing a timeshare company that you are onto them is risky. Many will see your move as a catalyst for them to begin intimidation tactics. They are likely to do all they can to keep you bound to the timeshare, including telling you things that are totally untrue.
It is important not to attempt to nullify the contract on your own, particularly if it is not your name on the contract. If your parents are sick, then you may be looking at Power of Attorney issues, and a timeshare lawyer well-versed in timeshare and inheritance will be able to advise you as to the correct course of action.
We cannot emphasise enough that there are laws against timeshare and inheritance. The sooner you take action to retrieve your illegally-taken money, the sooner you can rest easy in your retirement.
If you need to talk to somebody about your timeshare contract, or have any questions about timeshare and inheritance, please do not hesitate to get in touch with the expert team at Timeshare.Lawyer. We will be able to guide you through your rights under the law, and help you get the justice and peace of mind you deserve.