A. Seven hundred sterling pounds is an accurate figure for the legalities involved in the registration of the timeshare right. Regarding the taxes, as it was bought ten years ago, it may be exempt due to prescription of tax.
Regarding legal texts, there is a new law which regulates Timeshare, passed on the 26th of October, 1998. Registration of property or timeshare rights is not obligatory under Spanish law, but certainly advisable.
Please be cautious with tranfer companies as there are already a number of them under police investigation for fraud, and they are taking exactly 700 GBP from timeshare owners under the promise of an inminent offer from a buyer which happens to be untrue. The consequence is the loss of the money. (Please see related article)
It would be advisable that the registration is done by a lawyer in order to avoid complications.
If you need more help do not hesitate to contact us.
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