Timeshares are common in Tenerife, and many families discover they have inherited a membership or points-based contract. These work differently from normal property and can create unexpected obligations. Here’s what heirs should know.
You Are Not Obliged to Accept a Timeshare
If the timeshare carries ongoing maintenance fees or if the heir has no interest, they can refuse this part of the inheritance. This is more common than people think.
Timeshare Companies Must Be Notified
The company will usually request:
- Death certificate
- Inheritance deed
- Heirs’ details
Some companies charge transfer fees to update the contract details.
You Can Renounce Only the Timeshare
Heirs can reject the timeshare while accepting the rest of the inheritance. This prevents them from inheriting maintenance costs.
Timeshare inheritance often depends on the contract type, so checking the paperwork is essential.
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