Consider what goes on during a timeshare sale. The first thing that attracts you is some type of incentive to listen to a timeshare sales presentation. Discounted theme park tickets, gift cards to Visa, Mastercard and American Express. Once you have been enticed to sit through their timeshare sales presentation that’s when the show begins. Your short presentation can range from a few to several hours. They rope you in with lifetime dream vacations and what a wise investment this is, that you will even save money and stay in nicer resorts. But really, if that were in fact true, why would they constantly need to “buy” potential customers who for the most part are on vacation, to listen about their timeshare presentations about continual dream vacations. Surly if all was as they say, everyone would already know about it and own one.
Regrettably, this is not the case for timeshare victims. Once they have decided to purchase they are then presented with an adhesion contract that should in fact be reviewed by an attorney, instead they are coerced into signing this extensive document in multiple places along with initialing a multitude of clauses. This phase is called the “button up” whereby they usually send in a notary to assist you in executing the documents. What they are doing is locking you into a an adhesion contract. This clause is intended to give the timeshare sales department the freedom to assert and misrepresent information as material fact with no recourse for the consumer. For example, they make sure there is a clause that states “no verbal representations made by any representatives are legal or binding.”
How do they get away with it? $7.7 billion a year in federal, state and local taxes goes the government according to ARDA (the American Resort Development Association). The timeshare companies have lobbyist at the State and Federal level, who loses? The unsuspecting consumer, that is, the timeshare victim.
If you feel you were coerced, pressured, or misled into purchasing your timeshare or an issue you detrimentally relied on to make the purchase you found not to be true, book a free no obligation consultation and we will determine what your rights are and if there are remedies available for your situation. Call now for help and receive a Free Consultation: 407-644-1336
Canceling a timeshare purchase is not as simple as in other types of transactions. Essentially, you are signing a contract with the property owner. This creates an obligation on your part to adhere to the provisions stated in the written agreement. Timeshare contracts can sometimes last for many years.
Since a timeshare purchase is a contract, you must abide by contract laws. Under contract laws, canceling a contract is known as contract rescission. To rescind or cancel a contract, there are a few important concepts that you should understand:
“Right of Cancellation”:
Most timeshare companies understand that timeshare purchases are not nearly as final and permanent as in other transactions, such as buying a home. Therefore, they usually include a right to cancel the timeshare rental in the contract.
The right of cancellation allows the person to cancel their timeshare rights within a given time frame.
Cancellation or rescission should be communicated in writing in order to be effective.
Most state laws state that the Right of Cancellation typically cannot be waived. It is guaranteed to the timeshare holder if it is included as a provision in the contract
The Right of Cancellation can only be exercised within a given timeframe. This is usually 5-15 days after the purchase.
Usually the final closing of a timeshare sale cannot occur until the Rescission Period has finished
State laws only provide a minimum number of days for the Rescission Period. For example, in Nevada is seven days, whereas in Florida it is 10 days. Individual contracts may provide for longer rescission periods.
So, if you wish to cancel your timeshare purchase, you generally have a period of 5-15 days after purchase wherein you may legally rescind the contract. After the rescission period has expired, you can no longer cancel your purchase without penalty, or proactive measures against the timeshare developer. This is where we come in. If this describes your situation call today for help and receive a Free Consultation: (407) 644-1336