Wednesday, May 01, 2013
Are There Legal Restrictions Regarding Who I Can Sell My Timeshare To?
I read online that industry lobbyists are pushing an amendment to make it illegal for timeshare owners to sell their property to third-party companies that will not pay the maintenance fees. Can they do this?
Lisa Ann’s reply:
Great question, and an issue to which every single timeshare owner, and prospective owner, needs to pay careful attention. Can they do this? Yes, they can!
While on the surface, the new bill attempts to stop the glut of less-than-scrupulous companies from ripping off unsuspecting timeshare owners, I feel that it opens up a very slippery slope to place more and more unreasonable restrictions on owners.
It's up to consumers to educate themselves prior to purchasing a timeshare, and to have every single timeshare document reviewed by a timeshare savvy attorney. If the documents prove to be too restrictive, the consumer MUST take a stand and vote with their wallet and not complete the purchase.
Timeshare in 2013 is vastly different than timeshare twenty, or even just ten years ago. Consumers must be more vigilant, more educated, and there simply has to be a stronger voice protecting the U.S. timeshare owner, as there is in the U.K.
I urge everyone to write their elected officials and let them know how they feel about this issue.
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