Potential Hidden Fees Involved in Timeshares
Provided by HG.org
Timeshare interests purchased by a new owner may incur additional fees based on the state, city or local area where the property actually resides or additional concerns that the potential buyer is not ware of during the sale. It is important to understand these fees so that the timeshare details do not become a hardship for the new owner.
The standard fees of a timeshare are lost amid the vacation, gas or airfare and annual expenses to get to the timeshare location. All these other fees add up and are not part of the purchase itself. Many locations where timeshares exist are far away from the usual places. Some are in beaches, near isolated and peaceful parts of the country and some are remote islands. Before any other hidden fees become known, the uncounted bills to get to the vacation spot may increase the travel and residence expenses. Then, there are food costs and the trip back home.
The All-Inclusive Vacation
When a person purchases a timeshare, he or she may not know all the details that exist with the property. Some have services that keep the building maintained. Others come with attached costs for full service that includes food purchases, liquor stocking and linens. If the property has a maid, lawncare service and grounds keeper, this usually adds more to the initial purchase. Each month, the timeshare may incur additional expenses to each interest owner. It is important to know if the location is all-inclusive or if each little service costs more for the owners.
Other Possible Fees
Despite added fees to the property itself, there are some fees that will apply based on the state or contract. Some contain transfer of ownership fees that the new owner may not know about until he or she faces the need to pay them. Certain holes in the contractual agreement may also lead to added costs when the timeshare changes to a business model or to provide services to others. Instead of profiting from the proceeds, the owners may need to pay for products or services that others take advantage of in these deals. Some owners may face scrutiny when the timeshare property changes instead of as a partial owner.
Contract and legal fees are possible when purchasing property. Real estate taxes and property taxes could apply when an interest in a timeshare exists in the personís estate. Capital gains, investment fees and other expenses may tack onto the legal ownership of these interests. Without a legal representative, the new owner may find himself or herself drowning in new bills he or she may not have accounted for when buying the interest. Then, he or she may need to consider passing on the interest to an heir or if the contract runs out before taking advantage of all the services available.
Uncovering Fees and Pursuing Legal Action
Some timeshares have hidden fees that should not belong to the transaction. These may encompass filing the timeshare, smaller expenses to agencies attached to the timeshare for booking and scheduling and transactional costs. If the contract does not explicitly state that these are part of the timeshare process, they may have optional outs or availability to keep.
Unfortunately, if the timeshare owner is not aware of these hidden fees, he or she may not know to opt out. Contacting legal support is often important and crucial when connecting to or signing any type of contract. The owner may become bound to the terms even if they are unacceptable.
When the hidden fees add up and cause financial hardship along with the timeshare, the new owner may need to contact a legal representative. Any agency or company attached to the timeshare interest may need to become involved in a remedy to these problems. Sometimes, action is as easy as communicating the issue to the other party and finding a peaceful solution. However, if the other company or agency is unwilling to cooperate, it is important to contact a lawyer to determine what to do in these circumstances. It may be beneficial to pursue legal action against those with the hidden fees.
Legal Help in Timeshare with Hidden Fees
Some contractual obligations hold a timeshare owner to paying fees for prolonged periods. The original seller may not have disclosed this information. Additionally, if the attached services or items are not necessary or part of the original deal, the new owner may have legal action to pursue. It is important to hire a lawyer for these purposes.
Read more on this legal issueAdministrative Resolutions for Timeshare Legal Issues
Potential Remedies for Timeshare Relief
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer.