Timeshare Termination: Deed Backs & Contract Cancellation
How Timeshare Contract Cancellation & Deed Backs Work
Timeshare owners who want to terminate a timeshare usually don’t get too far by calling the developer or management company and asking them to cancel their sales contract. The representative on the other of the phone will tell you that it’s not possible to legally cancel your contract, and the developer won’t take the deed back.
Our experienced timeshare lawyers, however, will build a case to help get you out of your timeshare. We will conduct a thorough investigation and search for evidence of timeshare sales fraud, misrepresentations and unlawful acts. Our attorneys will examine your timeshare purchase contract, and we’ll interview you about the sales presentation that led to your purchase. We’ll examine any subsequent problems that you faced as an owner.
By taking the facts and relevant legal arguments to timeshare management, we will work effectively to negotiate the cancellation of your timeshare purchase contract for your deeded – or points – property. We will follow up with the local property records office and make sure that the deed transfer is recorded in a timely manner.
The Six Steps in Timeshare Deed Backs & Points Contract Cancellations
What Does a Timeshare Lawyer Investigate?
A timeshare lawyer will start by investigating any timeshare activity that may have violated state or federal laws relating to timeshares, consumer protection statutes and real estate transfers. Timeshare sales people, in their haste to quickly close sales, frequently violate laws and regulations and make mistakes that could help your effort to terminate a timeshare.
Timeshare Sales Fraud & Misrepresentation
Timeshare sales presentations are rife with puffery and promises of affordable, luxurious vacations for the rest of your life. Many buyers are lured in by the imagery and claims that the sales people make. Skeptical buyers who question a sales person receive vague answers and assurances.
In reality, many of those promises and assurances turn out to be fraudulent misrepresentations. Your timeshare purchase agreement probably contradicts many of the statements made by the sales people.
Our lawyers will review promises made to you and compare them to the purchase agreement you signed, as well as your experiences as an owner. Any inconsistency could be a fraudulent misrepresentation.
Common Timeshare Sales Misrepresentations
- “Your maintenance fees will never increase.”
- “Our properties don’t have special assessments.”
- “You will get to stay at your first choice of property.”
- “Making reservations is never a problem.”
- “You can always sell the timeshare. We have buyers waiting.”
- “We have a huge property improvement plan underway.”
Timeshare sales people are notorious for coercing normal, hard-working families into signing purchase contracts that result in substantial debt. Our lawyers will interview you about the sales tactics used to entice you into buying a timeshare. Were you promised a free gift or vacation package that you never received? Did the sales staff keep you in a meeting room for several hours until you were exhausted and willing to do anything to get out? Were you told that timeshares are an investment? Did the sales person make statements that turned out to be untrue?
We will uncover any coercive or unlawful action by the timeshare’s sales team. No one is alone in having been manipulated into buying a timeshare. There are nearly 5,000,000 timeshare owners worldwide. Many unhappy timeshare owners have been coerced into buying timeshares.
Sadly, timeshare developers have a history of preying on seniors and retirees on fixed incomes. Nearly 40% of new timeshare purchases are made by people ages 55 and older. Timeshare sales people know that these individuals have worked hard throughout their lives to establish good credit. Developers have shown that they are willing to take advantage of vulnerable people.
Predatory selling may result in a voidable timeshare sales contract, especially when the buyer did not have the capacity to enter into a contract at the time of the sale.
The timeshare association is responsible for maintaining the condition of the units and common areas so that owners may enjoy using the property. The association is not properly performing its duties if a property suffers from delayed maintenance or physical deterioration. Some associations have failed to manage regular cleaning and basic maintenance, including normal cleaning of the units and mowing the grass.
Associations also have a duty to maintain reserve accounts so that money is available for repairs and improvements over time. Failing in these responsibilities, the timeshare association reduces the value of the property, and owners cannot enjoy their purchases.
Deteriorating properties also have a major effect on trades. Timeshare owners who once received equal trades may find themselves banking two weeks for every one week at another property.
It doesn’t matter how long you have owned your timeshare. Our lawyers will investigate the property’s condition, as well as the association’s performance of its responsibilities to determine if any value or enjoyment of your timeshare has been taken from you.
Timeshare Mortgages & Credit Cards
One reason that it’s so easy for developers to sell timeshares is that they typically don’t offer traditional mortgages for timeshare purchases. Instead, sales people hand buyers applications for new high-interest credit cards that are used to finance the timeshare purchase. Since it’s so much easier to receive approval for a credit card than a mortgage, buyers walk out of timeshare presentations with an executed sales contract and brand new consumer debt with interest rates that typically hit 19% APR.
High-pressure timeshare sales pitches are designed to overwhelm and confuse you. By the time you start signing documents, you don’t even realize what you’re signing. Many buyers don’t know that they’re applying for a new credit card. This is part of the developer’s strategy to move timeshare units as quickly as possible.
We will investigate your financing and determine whether the sales people provided incorrect, misleading or fraudulent information relating to the financing of your timeshare purchase.
Timeshare fraud and misrepresentations can continue long after you’ve purchased a new timeshare. You may be surprised that you cannot book reservations to use your timeshare. You may suddenly realize that your points package, which was supposed to get you reservations at beach or casino properties, won’t get you booked anywhere you to visit.
Many timeshare owners who complain to the developer about an inability to book reservations often receive invitations to special timeshare owner meetings. These meetings have nothing to do with your timeshare ownership. This common maneuver is designed as an opportunity for the developer to upsell you into a new package that allows you to book a reservation at any of the company’s properties – even though your original purchase should have given you the right to book anywhere.
You might also receive a meeting invitation, sales call or home visit by a sales person once you have paid off more than half of your original purchase debt. The sales person may try to sell you on a new package that supposedly modifies your mortgage with a lower monthly payment. However, you likely don’t have a mortgage since you purchased the timeshare with a credit card. These timeshare loan modification schemes are generally nothing more than an attempt to upgrade you to a new package for more money.
Our timeshare attorneys will determine whether you are a victim of any of these confusing schemes that grossly misrepresent facts and frequently violate consumer protection statutes and other laws.