There are times when hiring a timeshare attorney is, from the consumers prospective, absolutely essential in the topic of timeshare ownership and relief options.
Timeshare owners that have come to the point in their ownership where they want to dispose of their interest has bumped into a bit of a brick wall. Many persons who have purchased Timeshare interests are seeking relief. Many of these owners have recently learned that there is little to no resale market for their Timeshare interests, and the Developers who sold them their interests have little interest in taking these interests back. It appears in retrospect that some of those sales inducements may have considerably overstated the case, particularly given that it is the Developers themselves who have taken steps to insure that the resale market remains suppressed, presumably to retain complete control of all of its inventory.
In any event, the Timeshare owners who desire relief from these purchase contracts find themselves in an unfortunate situation. If they’re being denied relief from their Developer and they can’t find a third party to take the interest, even for free, what then can they do?
Timeshare Relief Options
Many timeshare owners are reaching out to lawyers and law firms for assistance. As lawyers with some experience in the Timeshare industry, there are a number of options we can utilize to assist our Timeshare owner clients. Potential legal issues can include:
- Significant misrepresentations as to the owners’ ability to both utilize their purchases in the manner characterized at the time of purchase.
- The ability to easily dispose of those interests when the time comes to move on.
- Contractual and consumer disclosure-based issues can come into play regarding whether or not the purchaser received the statutorily required consumer disclosures required to be presented to the consumer at closing.
- Options that include, negotiations with the developer or the respective property owners association for takebacks.
- Referrals to properly licensed real estate brokers with experience in the Timeshare industry who can explore any possible marketing opportunities for paid off interests for their clients.
Timeshare Attorney Role
As skilled negotiators for our clients, we attorneys have the advantage of pressuring reluctant Developers and Associations to come to our negotiation table. We do so by using our abilities to freeze or inhibit collection attempts while conducting negotiations, etc. In other words, hiring an attorney knowledgeable in Timeshare matters is clearly advantageous to a Timeshare owner who has run out of other options.
Consumers have the absolute right to hire an attorney to assist them with a problem that has potential legal and financial consequences that can last a lifetime. Particularly when the long term consequences of lifetime ownership of a timeshare include the absence of any resale market.
The irony here as well is that the Timeshare Industry’s practice has always been to require a same day closing with the consumer receiving a huge packet of legally languaged paperwork to absorb within a 5-10 day rescission period (in most circumstances still within that purchaser’s vacation period).
Having a lawyer that focuses in Timeshare assistance is your best line of defense in protecting your interests as a consumer.
Other Timeshare Articles of Interest: