Tampa Timeshare Attorney
A timeshare can be a great way to enjoy your vacation in the greater Tampa and St. Petersburg area. But remember, a timeshare is not the same thing as renting a house for a few days on the Internet. When you purchase a timeshare, you sign a legally binding contract that potentially commits you and your family to years of mortgage payments, administrative fees, and other assessments.
Many people are pressured into entering into timeshare contracts, sometimes without reading the fine print. Fortunately, Florida law offers a number of protections for prospective timeshare buyers, as well as existing owners looking to sell. An experienced Tampa timeshare attorney can help you understand and exercise your legal rights. You do not have to be a victim when it comes to dealing with high-pressure timeshare salespersons or outright scam artists who make false promises.
You Have 10 Days to Cancel a Timeshare Agreement
Before you even purchase a timeshare, the seller must meet certain legal obligations. Anyone who offers a timeshare plan must submit a “public offering statement” to the State of Florida. Once approved by regulators, this statement must then be given to all prospective timeshare buyers. The statement itself must include such information as a detailed explanation of the “form of timeshare ownership,” including whether or not you will actually acquire “any interest in the underlying real property.” The offering plan must also inform you upfront about any common expenses and the duration of the plan.
Once you decide to purchase a timeshare, Florida law gives you 10 days to back out of the deal for any reason. This 10-day cancellation period starts on the day you sign the contract or the date that you receive the last of any legally mandated disclosures or documents, whichever is later. The cancellation period is mandatory. It cannot be waived, and if the seller pressures you to close early, the contract becomes voidable at your option for one year following the expiration of the original cancellation period.
Do You Need Legal Representation in a Florida Timeshare Matter?
Even if you are happy with your timeshare purchase, the day may come when you can no longer afford your payments. If you took out a loan to finance your timeshare contract, nonpayment can have serious ramifications for your credit rating. You may also face a foreclosure action. At HD Law Partners, we can help you deal with timeshare owners and homeowners associations to try and avoid such an outcome. And if necessary, we can help you sell your timeshare.
Indeed, it is important to have experienced, independent counsel when you are reselling a timeshare. There are many shady resale-companies that collect large upfront fees from timeshare owners yet somehow never manage to find a buyer. Although Florida law regulates such resale operations as it does timeshare plans, many financially desperate owners are quick to buy into empty promises. Do not let this happen to you. Call HD Law Partners at 800-876-3392 to schedule a consultation with one of our Tampa timeshare attorneys right away.