The Benefits Of Hiring A Timeshare Attorney
Vacation is a time to relax and enjoy life. While vacationing, a tourist may be approached by a timeshare company and offered a special deal, free items, or a free night’s stay at a resort simply for listening to a timeshare pitch. This may appear to be a good idea, but many vacationers get taken in by the pitch and end up signing a contract for a timeshare. They do so believing it is a good idea as they can vacation more often and pay less while doing so. Unfortunately, this often isn’t the way it works. It’s often the case that the timeshare buyer ends up spending more than they anticipated by being responsible for ongoing maintenance fees, and/or having difficulty in booking a timeshare vacation. As such, they frequently wish to be released from the contract. Can this be done?
Signing a timeshare contract works the same way as signing any legal document. The person doing so agrees to certain stipulations and, in the event the contract is not adhered to, the timeshare company may take legal action, including foreclosing on the property. In fact, many timeshare companies may inform the buyer the contracts cannot be canceled. Yet this isn’t the case. There are certain situations in which a contract for the purchase of a timeshare may be canceled, with mistake and fraud being two situations, and a person may terminate the contract legally in some situations without breaching it. At Mestdagh, Wall & Hamilton, P.A. we understand your frustration and can inform you of your legal rights.
Rights of the Timeshare Holder
A timeshare holder can cancel the contract within 10 days of the date the contract was signed or when the last of the required documents were received, and this right cannot be waived. Certain steps must be taken to complete the cancelation of the contract. For this reason, it is best to speak to our firm’s experienced timeshare attorneys to ensure all steps are completed properly. Once this process has been followed, the timeshare company must refund all payments, minus any benefits received, within 20 days or five days after the funds are received from the cleared check, whichever occurs later.
Duties of the Timeshare Company
The timeshare company is required by law to provide certain information to any potential buyer. This information is contained in a public offering statement, a document that must be presented to any party purchasing a timeshare. The statement provides a history of the project, information about the timeshare plan, a description of the timeshare accommodations and more. If the contract does not contain the required information, the purchaser may find he or she isn’t obligated to fulfill the contract. Our firm’s attorneys are experienced in understanding and searching for the type of disclosures required by the law for a contract to be binding. Let us help you analyze whether the timeshare company provided you with the correct documents, and what rights of cancellation you may have..
Selling a Timeshare
Timeshare owners may believe they can easily sell a timeshare. Unfortunately, doing so isn’t as easy as it sounds..
Timeshare owners find it difficult to determine the value of the timeshare, and thus have a hard time establishing a price for the sale. As you may have experienced, it’s difficult to even give away a timeshare interest. Beware also of the many scams online that promise they have a buyer for your timeshare. This is generally fiction, that only comes to light after you’ve paid such timeshare resale company thousands of dollars.
To avoid costly errors, contact our firm’s experienced attorneys so that you may understand how the resale market works and your transfer options.
Other Factors to Consider
Florida maintains certain laws regarding the resale of a timeshare to protect those who wish to dispose of their asset. Our firm’s attorneys can explain these protections and also discuss matters regarding foreclosure and deficiency judgments. In the event payments aren’t made as agreed, the timeshare company or the association may begin foreclosure proceedings. Our attorneys can help you understand the foreclosure process, its ramifications, and how to mitigate its effect. We can also outline what happens in the event a timeshare sells for less than what it is worth, legal advice which becomes invaluable as a timeshare owner moves through the transfer process.
Don’t suffer under the burden of owning a timeshare any longer. Contact our firm’s attorneys to learn your rights under Florida’s timeshare laws. Let us and our knowledge of the law be on your side and help you work toward finding the best solution to ending your timeshare headaches. We can help you clear up any misunderstandings of your rights, and thus relieve you of the burden you’ve been living with for too long.