For the last 50 plus years, timeshares have been sold as an “investment”. In finance; an investment is putting money into an asset with the expectation of capital gain, dividends, and/or interest earnings.
If this is true; why are there over 3.5 million timeshares for sale ALL FOR UNDER $1.00?
Canceling a timeshare contract is a challenge unless your rights as a consumer were violated.
Consumer protection laws regulate unfair business practices, fraud, misrepresentation, and other consumer/business interactions in order to prevent fraud and scams.
Ironically; timeshare contracts are legally being cancelled due to consumer rights violations, violation of consumer protection laws due to misrepresentation or failure to fully disclose terms and conditions prior to signing the purchase agreement, and selling timeshare as an investment.
Consumer protection laws allow consumers to cancel contracts as long as their claims are warranted.
Here’s a quick look at legal ways to cancel your timeshare contract:
• If you received a gift or incentive that required “90 minutes” to tour a property in which that “incentive” was offered with the purpose of converting your gift into a sale for financial gain, is considered Theft by Conversion.
• If you were kept under pressure for more than 2 hours after saying “NO” multiple times.
• If you were told that your timeshare can be sold or rented for profit.
• If you were not given the choice to purchase your timeshare in the resale market for $100.00
• If you were not privy to the fact that timeshares can be rented online for $159.00 without being a member/owner.
• If you were not disclosed the “perpetual clause” in your purchase agreement legally binding your heirs, successors, and assigns to inherit all legal and financial obligations.
If ANY of these deceptive sales tactics were applied to get your signature on a timeshare contract; the timeshare developers and their sales people violated the Consumer Protection Act designed to provide full disclosure of a product, service, or good to prevent fraud or misrepresentation.
Only a licensed practicing timeshare attorney would be able to identify these technicalities to help you legally cancel a timeshare contract. Please consult your attorney before making any important decisions.