Articles
Timeshare Deeds and Other Scams
by Legal S. Real Estate Attorneys in CA and NVTimeshares and vacation clubs are collectively owned properties, comprised for the most part of resort hotels and vacation homes. The ownership of these vacation memberships can be purchased for periods of time, generally for one or two weeks out of the year, and is not exclusive to any one specific owner.
Consumers who try to own a reliable resort location at their destination of choice often sign the timeshare contract, where they know where they want to vacation and prefer a space for their own rather than hotels, motels or hostels. Timeshare deeds can be assigned to secure a resort room for either a specific time period, such as from August 2nd to August 16th, or they can be assigned for a season where the dates are flexible, such as for two weeks in the winter. The former type of timeshare deed is referred to as fixed and the latter is referred to as floating membership. However, reports of consumer complaints and timeshare scams have been increasing lately, and timeshare attorneys advise their clients that it is critical that owners are aware of the process involved and the monetary risks.
Deeded and non-deeded Timeshares and Vacation Clubs
Due to the fact that timeshares and vacation clubs are not always deeded, other options exist for consumers. One can purchase a membership that is not administered by a timeshare deed. Known as a non-deeded timeshare, or a Right to Use timeshare, the points-oriented ownership provides travelers the chance to own a part of the unit by means of using the right to use the property during the vacation times that are available to them.
In general, a deeded timeshare is owned for life, or in perpetuity, and non-deed vacation club memberships expire on a specified date. A deeded timeshare resembles a more standard, traditional real estate property, where fractions of the timeshare unit is assigned for ownership to multiple parties, as specified by the timeshare deed.
In contrast, a non-deeded or Right to Use timeshare is a more recent vacation product and the result of the current real estate trends. Many vacationers like the flexibility of the non-deeded version and find it more convenient to purchase weeks of use of a vacation club than subject themselves to a lifelong obligation.
Vacation club scams and rip-offs
Timeshare scams have reportedly been rising recently, and many consumers who sign a timeshare contract claim that they were not made aware of general timeshare contract details and the resort's procedures involved with becoming an owner. Most owners of vacation club resort units find out after the fact that there are liabilities that were in the fine print of the contract, they did not read during the resort presentation.
The typical vacation enthusiast takes a leap of faith and buys a timeshare, not because they have a ton of money to pay all the significant resort fees, but because they were coerced by the sales person during a high-pressure "resort tour". Once the dust settles and the vacation is over, many new timeshare owners realize that the financial obligations are more than they expected, and urgently seek out options to get out of their memberships. Enter the timeshare resale con artist, where less than honorable agents of timeshare resale companies approach owners wanting to exit their contract, and persuade them to pay rather large fees with the promise of providing a willing buyer for the timeshare for a great price. In reality, timeshares generally have rock bottom resale values.
Another common timeshare scam is the proposition of an "enhanced timeshare membership" where owners are promised additional points or weeks, or "premium access" to a popular, well-known resort. While the offer might seem fantastic, the actual intent of the timeshare developer is to entice you to fork over more money for an expensive increase to ones existing obligations. The uncomfortable hard sell presentation can go for several hours and is designed to overwhelm the consumer with exaggerated claims and promises until they finally give in and sign the contract.
When enough is enough
For vacation club and timeshare owners who are tired of paying timeshare fees and want to exit a timeshare contract, they should realize that it is not a fast or simple procedure. This is due to the fact that once a consumer signs a legal contract with a resort developer, he or she is legally tied to the obligations of the contract and abide by timeshare contract laws. For vacation club and timeshare owners who are tired of paying timeshare fees and want to exit a timeshare contract, they should realize that it is not a fast or simple procedure. This is due to the fact that once a consumer signs a legal contract with a resort developer, he or she is legally tied to the obligations of the contract and abide by timeshare contract laws.
To make sure a consumer does not get involved in a timeshare headache, one must learn how to legitimately get out of a timeshare. With the help of a good timeshare lawyer, one can legally go about cancelling the timeshare deed. Most timeshare contracts include a rescission period, or exit window period, of a several days after the contract was purchased, when a timeshare can be released without a hassle. When this time period is over, then a legal exit process needs to followed to cancel the timeshare.
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About Legal S. 
Real Estate Attorneys in CA and NV
19 connections, 0 recommendations, 54 honor points.Joined APSense since, June 26th, 2020, From Newport Beach, United States.
Created on Sep 10th 2020 14:38. Viewed 336 times.
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