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Original timeshares mirrored the legal structure of a standard condominium in defining one’s interest in a resort. This type of interest involves ownership of the inner walls and interior confines of a given unit and a shared “undivided” interest in common elements and amenities of the property. The ownership is “undivided” in that the owner has complete access to all common area property.
The timeshare concept expanded this legal structure to define one’s ownership of a unit as an undivided interest to access the unit during a given time annually. As a deeded interest, the ownership was characterized as real property – real estate – and required the recording of the deed(s) in the applicable county’s public property records.
This recording of deeds was intended to create accountability that, in part, would keep people honest in transacting sales. A check of property records would show whether or not a buyer would receive a clear title. This represented a red-flag problem for the unscrupulous timeshare developer. He would have to quit selling units in the same resort and start building new ones. Naturally, an unprincipled developer would look for another option.
In a stroke of strategic and marketing genius of all time, the developer concocted the ‘points’ system of ownership. This concept enables timeshare developers to sell ‘points’ of accessibility. The greater the number of points purchased, the more access a timeshare owner has to the resort he buys.
Now developers enjoy unfettered freedom! They are free to overbook the resort and to sell interests in the same resort units over and over again. Taken a step further, they can tout the points system as a ‘vacation’ ownership in an entire network of exotic locations. Voila! Now buyers move beyond purchasing merely a week-long stay in the same place to choosing from a vast selection of luxury resort offerings.
Great for developers – not so wonderful for the misled timeshare buyer, who effectively has been divested of his deeded interest. Further, the points buyer finds his points devalued with each and every subsequent sale; and all of these sales involve a finite number of units in existing accommodations. The end result? The number of points that allowed you to visit Orlando last season won’t even get you to Omaha next year!
YOUR LEGAL PROBLEMS ARE NOT INSURMOUNTABLE!
Despite accessibility issues and other legal hurdles, chances are good that your timeshare developer is exposed legally in ways that are relatively straightforward and provable. You owe it to yourself to hire experienced, competent counsel. At the Aaronson Law Firm, we have over 80 years of combined legal experience. And we are willing to sue, if necessary, in the interest of getting your timeshare cancelled. Contact us today for your free consultation.