Timeshares for many years have been purchased as a traveling concept with the understanding that the purchaser holds a deed which represents real property value. FALSE!!! Timeshare sales representatives have been using deceptive sales practices for the last 50 years. Deceptive sales practices employed by the resorts representatives, is widely known as a violation of the Federal Trade Commissions Unfair and Deceptive Trade Practice Act. By definition; a practice is deceptive if it will likely mislead a consumer, acting reasonably under the circumstances, to that consumer’s detriment.
Timeshare owners have been able to get out of a timeshare contract if Consumer Rights under the Consumer Protection Act have been violated.
Normal violations include but not limited to:
Theft by Conversion- When an individual or business entices a third party with a gift to purposely convert that gift into a sale for financial gain is a Deceptive Sales Practice.
Violation of the Consumer Protection Act- This Act protects the consumer if and when a company fails to provide full disclosure of terms, conditions, ingredients, and any important facts that will allow the consumer to make an educated purchase with facts on hand such as:
a) Failure to disclose that a timeshare is not real property or an investment.
b) Failure to disclose that timeshares are available for purchase on eBay, Craigslist, and other sites for less than $100.00
c) Failure to disclose that timeshares are not exclusive and they are available for rent online for as little as $159.00 to the general public.
d) Failure to disclose that the purchase agreement has a clause that legally binds your heirs, successors, and assigns to inherit all legal and financial obligations attached to the timeshare contract.
We realize if timeshare owners were properly disclosed the terms and conditions of their contract; chances are they would have NEVER bought the timeshare. Consumer protection laws are federal and state statutes governing sales and credit practices involving consumer goods. Such statutes prohibit and regulate deceptive or unconscionable advertising and sales practices.
If such Consumer Protection Laws are violated; timeshare owners have the right to cancel their timeshare contract and are entitled to a fair settlement of just claims as long as the claims are warranted.
Advocate Financials Services has partnered up with successful Timeshare Law Firms that specialize in canceling timeshare contracts, defending consumer rights, and seeking just compensation for such violations taking place. The only way to legally cancel a timeshare contract is through a state licensed attorney that specializes in Timeshare Law and Consumer Rights.
Selling a timeshare has become impossible. Under law; private owners have to disclose the terms and conditions mentioned above prior to engaging in any financial transaction; who would buy a timeshare knowing that; (1) timeshares are not an investment with the expectation of capital gain; (2) Maintenance Fees go up every year; (3) the developer under contract can add, delete, and modify terms and conditions without the owners consent; (3) the contract is in perpetuity and will force your heirs to inherit all obligations. The concept of timeshare is good; the real problem is the devil in the detailsthe timeshare contract.
When a potential buyer understands that timeshares are not an investment and the contract legally binds their heirs; potential buyers would rather rent a timeshare online instead of paying $20,000.00 for something that will never appreciate in value.
If any of the following violations took place; you are eligible to cancel your timeshare contract and receive a fair settlement of just claims as long as the claims are warranted:
Received a Free or Discounted gift that required Only 90 minutes of your time to just look at the property. No purchase necessary.
Violation of your right to choose to buy or rent a timeshare for less than $100.00
Violation of your right to education by not disclosing your terms and conditions prior to signing your purchase agreement.
About the Author
Advocate Financial Services is a Licensed Bonded Financial Consulting Firm that employs to assist their customers in managing their debts. They have an experience of over 25 years in serving their customers concerned with financial and debt related matters such Consumer Debt settlements, Transfer of ownership and Timeshare Contract Cancellation. They are adept in providing strategic advice, and provide trusted consultant to customers; to succeed in meeting their goals.