I would like to surrender my timeshare lease
In more recent years, it has become apparent that there is an increased demographic trend applying to the company and it’s membership. There are some cases where the company has been approached because:
1) A member is unable to use their timeshare due to genuine medical grounds.
2) A family member inherits a timeshare but does not wish to utilise it.
In such cases, requests have been made to simply surrender timeshare leases back into the ownership of the Company thus alleviating the liability to pay the annual Maintenance Charges*
Where leases have been surrendered there has been a policy of charging 4 x the annual maintenance charge for that week/s, as part of the surrender terms.
A new leaseholder ( including if inherited) under the terms of the lease is liable for any past Maintenance Charge arrears, these outstanding amounts transfer to the liability of the new leaseholder.
Executors of a Will cannot complete probate until any outstanding Maintenance Charges have been discharged from the Estate.
Each request received is taken on a case by case basis, the Board of Directors will look at each case on it’s individual merits.
Apart from the human considerations, the Directors also have to make such decisions based on the financial health of the Company at any one time.
1) In the first instance please write to us stating why you wish to surrender your lease:
The Blakeney Timeshare Limited
C/O Landlord Direct
34 Musters Road
Procedure To Surrender A Timeshare Lease.
- The Directors will consider your request to Surrender your lease.
- If agreed, you will be given one year to try and dispose of the lease. Your week/s will be advertised on the Company’s website on the For Sale page, http://blakeneytimeshare.co.uk/info-sheets-sell.html and leaseholders can advertise ( at their own cost) on other specialist websites.
- You must de-list your week from RCI or any other timeshare exchange website, at least 12 months prior to you surrendering a lease.
- If a buyer is found then contact our office and we will arrange for an Assignment of the lease.
- If after 12 months has elapsed, and your week/s has not been purchased then if the Directors are satisfied the owner has made all reasonable efforts to dispose of the share/s, then the Directors will accept the owner relinquishing the share and the ongoing liability for maintenance charges for a premium of four times the estimated current annual charge.
- Once accepted the owner will need to send the original lease back to our office, along with your cheque made in favour of : ‘Blakeney Timeshare Management Ltd’ for an. amount equating to:
- £300 plus vat to cover legal expenses, plus
- £ 4 x Annual Maintenance Charge for the relevant week/sIf you have lost your original Lease or Deed of Assignment.
If you require copies of lost documents.
Copies of lost leases can in most cases can be ordered directly via the solicitors retained by Blakeney Timeshare Management Ltd at a cost of £50 plus vat per document :
Ben Darlow, Shakespeare Martineau LLP, Two Colton Square, Leicester, LE1 1QH