Funchal, Madeira, Portugal
Pestana Promenade Ocean Hotel, on the Lido Promenade overlooking the ocean, is well placed for a relaxing break with easy access into the city centre.
Unit size: Studio
Maintenance Fee: 762.65
Maintenance Date: 01-Jan-2018
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TSR’s Satisfaction Guarantee states: if, after using your new timeshare for 2 years, you are not completely satisfied, Timeshare Recyclers will remove you from the ownership, guaranteed! * *In order to be removed from ownership of the property you will be required to pay a resort transfer fee, a recording fee, and any closing costs. You must also be current with all fees for maintenance, utilities, and taxes on the property. You will also be required to timely sign the required transfer documents, closing documents, and any other documents required by TSR to handle and complete the transfer. The terms of this guarantee are listed below. Please read the terms completely. If you agree with these terms, please click “I Agree”.
1. I/We acknowledge and agree that the transfer & assumption and/or relinquishment of my/our timeshare shall be managed by Timeshare Recyclers (TSR) or their parent company or affiliates.
2. I/We understand and agree that I/we am/are responsible to comply with the “Steps of the Transaction” as stipulated by TSR in this agreement.
3. I/We understand that this is a transfer & assumption and/or relinquishment of my/our timeshare and I/we are in no way expecting compensation for the aforementioned resort property.
4. I/We understand that TSR will not begin the transfer & assumption and/or relinquishment if I/we have any pending reservations for said timeshare property.
5. I/We understand that the resort property shall be granted, conveyed, or assigned to TSR, and/or to its affiliates, in such manner as to pass legal title or ownership free and clear of any encumbrances or fees that would constitute a lien or liability associated with the resort property, alternatively said resort property shall be surrendered back to the resort should TSR deem a relinquishment is required.
6. I/We agree to pay all resort transfer fees, legal preparation and recording fees, property taxes, transfer taxes and or closing costs pertinent to the completion of the property transfer (the final closing assignment fee varies from resort to resort and will be calculated during the research process, alternatively the entire cost will be calculated and paid up front for the transfer & assumption or relinquishment process).
7. I/We understand that any resort maintenance fees, assessments and/or taxes billed monthly, quarterly, biennially or annually must be paid in full for a minimum of 180 days (a minimum of 365 days if the resort is on TSR’s difficult transfer list) after the initial fee to TSR is paid and the required documentation has been received by TSR, and for a minimum of 90 days from when the final transfer documents have been signed, notarized, and accepted by the resort.
8. I/We understand that I/we will be responsible for any extra maintenance fees, interest, or closing costs incurred by a delay caused by non-completion or delays in completion of the steps to transfer or relinquish my timeshare. I/We understand that TSR has the right to cancel the transfer & assumption and/or relinquishment for my/our property for lack of cooperation on my/our part.
9. I/We understand and agree that TSR will begin the management, including making reservations and/or managing rentals, changing contact info, et cetera of my/our timeshare property within 30 days of the signature of this agreement. I/We understand that TSR reserves the right to transfer title of property into a third-party entity or person or surrender said property to the resort. I/We understand that any interference with the management of the resort interval on the part of TSR may result in additional fines and/or the cancellation of this transfer & assumption and/or relinquishment.
10. I/We understand that should the resort, resort management company, or any other party exercise a Right of First Refusal (“ROFR”) to acquire your timeshare, any proceeds from said ROFR must be paid to Timeshare Recyclers. If said proceeds are insufficient to cover Timeshare Recyclers’ expenses I/We shall be responsible for Timeshare Recyclers’ expenses.
1. Contact Timeshare Recyclers’ Customer Service at 1-888-287-4188 to request the start of the guarantee process.
2. Gather COPIES of your contracts for the timeshare we will be transferring.
The most important of these documents are:
3. Send to Timeshare Recyclers the COPIES of your documents. (Steps 2 and 3 should take you about 2 weeks).
You may return them by:
4. Once we have received your documents, our research department will confirm the correct procedures to transfer your property and prepare the final transfer documents. This step usually takes us between 4 to 8 weeks, depending on the level of cooperation we receive from the transferring resort.
5. When the research department has confirmed the correct transfer procedures for your resort, we will contact you to explain the final steps of the transfer. We will then send you copies of the final transfer documents. It is likely that you will have to sign, notarize and return the copies to TSR. It is also possible that you will have to pay a final resort transfer fee to your transferring resort.
6. Once we have received your signed and notarized final transfer documents, we will begin the final transfer steps. This last step generally involves county recorders offices, resort management companies, and TSR. Since most county recorders and home resorts require hard copies, this last step moves at the speed of traditional mail. This step generally takes us about 12 weeks, please be patient and don't worry! We are working hard to transfer your timeshare!
Your cooperation in the transfer and assumption or relinquishment of your timeshare is critical! With your help we can process your timeshare in the most efficient and cost-effective manner possible.
Please note: the majority of resort management companies will not transfer a timeshare if there are any outstanding fees (maintenance or otherwise). You are responsible for any fees due within 90 days from when the final transfer documents have been signed, notarized and accepted by the transferring resort. Any additional fees, interest, closing costs, or fiscal damages that arise from delays caused by you will be your responsibility and may even result in the cancellation of the transfer and assumption service.
Legal Disclaimer – Florida, Colorado, and South Carolina Properties
No fee, cost, or other compensation may be paid to the person providing the timeshare resale transfer services before the delivery to the consumer timeshare reseller of written evidence that all promised timeshare interest transfer services have been performed, including, but not limited to, delivery to both the consumer timeshare reseller and the timeshare plan managing entity of a copy of the recorded instrument or legal document evidencing the transfer of ownership of legal title to the consumer resale timeshare interest to the transferee, accompanied by the full name, address, and other known contact information for the transferee. TSR will provide the timeshare reseller with written notice of the full performance of the timeshare resale transfer services, together with a copy of the recorded instrument or other legal document evidencing the transfer of ownership of legal title to the consumer resale timeshare interest from the consumer timeshare reseller to a transferee. TSR has agreed to provide you with timeshare resale transfer services pursuant to this resale transfer agreement. After those services have been fully performed, TSR is obligated to provide you with written notice of such full performance and a copy of the recorded instrument or other legal document evidencing the transfer of ownership of or legal title to the consumer resale timeshare interest to the transferee. Any fee or other compensation paid by you under this agreement before such full performance by TSR must be held in escrow by the escrow agent specified in this agreement, and is prohibited from receiving any such fee or other compensation until all promised timeshare interest transfer services have been performed.
Legal Disclaimer – Massachusetts Properties
You have an unqualified right to cancel this agreement for any reason within three (3) business days after the date you sign this agreement. This right to cancel may not be waived. If you decide to cancel this agreement you must notify Timeshare Recyclers in writing of your intent to cancel. Your notice of cancellation shall be delivered in person or sent by certified or registered United States mail and sent to 410 South Rampart Blvd., Suite 390, Las Vegas, NV 89145 and shall be effective upon the date sent. Your refund will be made within twenty (20) days after receipt or notice of cancellation or within five (5) days after receipt of funds from your cleared check, whichever is later. You are not obligated to pay Timeshare Recyclers any money unless you sign this contract and return it to Timeshare Recyclers. Before signing this agreement, you should carefully review your original timeshare purchase agreement and any other project documents. Any fee or other compensation under this agreement before such full performance by Timeshare Recyclers must be held in escrow agent specified in this agreement, and is prohibited from receiving any such fee or other compensation until all promised timeshare interest transfer services have been performed.
By clicking on “I Agree” you acknowledge that you understand the above terms for the TSR Satisfaction Guarantee agreement and the “Steps of the Transaction” as stipulated by said agreement.