Timeshare Law – Read Your Contract Carefully

Timeshare Law – Read Your Contract Carefully

Timeshare Law

Buying a timeshare can be a great way to enjoy a vacation, but it’s also a costly affair. The average timeshare costs over $27,000 per contract, and another $500-$2000 in maintenance fees. These fees tend to increase about five percent a year. The costs add up quickly, and many people are left with regrets after buying a timeshare. If you are considering buying a timeshare, be sure to read your contract carefully. It’s also a good idea to check the laws in your state before you sign the contract. If you have any questions, contact a timeshare expert like Consumer Consulting Group. These experts have years of experience applying the timeshare laws of consumer protection. They can help you understand the situation and find the best course of action.

Timeshare law is designed to protect consumers from rogue timeshare companies. Many states offer special protections for timeshare buyers. They also have specific timeshare contract disclosures. Consumer Consulting Group helps thousands of owners  legally terminate fraudulent, unwanted, inaccurate, or hardship timeshare contracts. They can also explain their process, which is often complex. If you are unsure about whether you can terminate your timeshare, it’s best to contact Consumer Consulting Group immediately.

Timeshare law also protects timeshare owners from predatory schemes. In Florida, for example, there are statutes that protect timeshare buyers from property trades, as well as property appreciation. These statutes prohibit timeshare traders from asking for advance payments or deposits during the cooling off period. Timeshare contracts must also be in writing and must be certified translated.

In addition to the 10 day cooling off period, timeshare contracts must also have a notice of cancellation rights. This must be provided to all purchasers of timeshare contracts. These notices must be delivered by recorded mail. Failure to provide these notices is a criminal offense.

Timeshare contracts must also be written in the consumer’s language. This is not only a legal requirement, but it’s also designed to help psychologically trapped consumers. The contract must be written in the language of the consumer’s home state.

The timeshare law also covers resale contracts. These contracts are sold by exchange companies such as DAE or RCI. The contract must contain all the information required under Article 9 of the Law. In addition, the contract must be in the purchaser’s home language and must be translated. In EEA states, the contract must be certified translated and the information provided in the consumer’s own language.

One of the most common legal defenses for enforcing a timeshare sales contract is common law fraud. It refers to the fraudulent statement that a timeshare is an investment, as opposed to a rental property. It also includes misleading statements about the timeshare’s exclusivity or the value of the timeshare. This is a dishonest means of depriving the consumer.

The timeshare law also protects consumers from unscrupulous timeshare sales associates. Sales associates who make careless statements, or omit the rules on rescission, are subject to criminal penalties. This includes statements that indicate timeshares are real estate, and that they will transfer after purchasing.

If you believe you might have a case or want to hear options regarding your timeshare? Call Consumer Consumer Consulting Group for a free consultation.