Know Your Timeshare Rights
One of the biggest reasons why many people fall into the trap of scammers and frauds is that they do not know their legal rights when buying a timeshare. It is always advisable to know your rights prior to signing any contract or agreement. This is the primary reason it is always advisable to select a good timeshare attorney before finalizing any timeshare purchase. Similar to other industries, the timeshare industry is also prone to unsavory tactics by a few sales people. Every day you here a story of somebody being duped into buying a timeshare and the property doesn’t even exist or in some cases, does not turn out to be what the buyer expected . We here these horror stories and we should learn from these. Here are some things that you should keep in mind when purchasing a timeshare.
To understand our rights let us understand different types of timeshare plans first. They are basically of two types . The first type is a deeded and title timeshare and the second one are right to use also termed license to use timeshares. A deeded and title type of ownership means the buyer owns the timeshare and acquires a specific facility for a specified length of time each year, for a specified number of years ,generally 40 years, and a deed. With a right to use timeshare the buyer has the right to acquire everything mentioned above except the deed or title. A deeded timeshare can be inherited and a right to use timeshare is similar to a lease which expires after certain number of years.
Unfortunately the timeshare industry has adopted the same type of tactics as the used car industry in terms of selling methods . It starts off with an invitation to a presentation offering you an expensive gift. When you show up, you are presented with a high pressure selling session with the salesperson constantly attempting to close on a deal immediately. Most often, the expensive gift also turns out to be a less than stellar. Potential customers must endure the inconvenience of sitting through a long presentation, full of high pressure sales pitches. But, by law, customers are supposed to be informed about the length of the time they have to sit before receiving a free gift. In addition, they must be informed about the physical condition of the facility. The timeshare companies are not permitted to give a misleading representation of the market value of the timeshare property. They are also not supposed to misinform you about the resale or exchange potential of the timeshare property.
The law also precludes the timeshare seller from not including the oral promises that were made prior to the purchase of the timeshare in the written contract and also including any additional fees that were not mentioned orally. Rules may vary depending on the state. Some states also have a cool off period, usually of two weeks , to allow you to cancel your contract should you change your mind. Contact a timeshare attorney to determine the details of the laws regarding timeshare sales in the state in which you are making your purchase.
Apart from these rights one should also consider things such as do you really want to buy the timeshare? Did you visually inspect the timeshare yourself before deciding to purchase it? Did you get a report about the seller from the better business bureau? Did you talk to existing owners in the timeshare property? Do you plan to rent it? Do you have intentions of reselling it? Do you plan on exchanging vacation sites frequently? The answers to all these questions should be determined prior to making a final decision about buying a timeshare.
To better understand your rights when purchasing a timeshare retain a: timeshare attorney Visit us to learn more about how to protect your rights timeshare attorney
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