The term timeshare is a coined word, one that emerged in the UK in the 1960’s to denote a system of sharing vacation accommodation that started to become popular after World War II. In its initial form, timeshares were vacation cottages purchased by multiple families together, each of them having exclusive right to use the cottage for a specific period each year. The solution quickly gained popularity and was embraced by entrepreneurs who bought property in popular resorts, then they divided the property ownership into 50 equal parts, corresponding to 50 weeks of the year and sold the time spent on the property (the remaining 2 weeks of the year were reserved for maintenance).
The first timeshare in the US was sold in Fort Lauderdale, in Florida in 1974, based on a contract that gave the buyer 25 years of vacation license on the property. The concept was soon adopted by many adventurous entrepreneurs as well as by large hotel chains. Timeshares were appreciated by the general public as well because they offered the opportunity to spend luxurious vacations in exotic places for costs that seemed much lower than the costs of booking a single vacation in a similarly luxurious hotel.
The timeshare industry is still multibillion-dollar business, with thousands of properties offered by hundreds of timeshare management companies and with legislation being constantly amended to protect all the parties involved. Companies like Timeshare Termination Team can help you get rid of your timeshare legally if you no longer need or want it.
First Posted right here: The History of Timeshares
via Blogger The History of Timeshares
Getting out of timeshare contracts has been a problem and a weak point of the system ever since the concept gained popularity in the 1980’s. The issue was made worse by the appearance of scammers on the market and today, we can read and hear about how the entire industry of timeshares is affected by the notoriety caused by difficult exits. The situation started to improve a few years ago, when legislation was introduced to make timeshare contract exits easier. First, the inclusion of a cancellation clause became mandatory for all timeshare contracts – the clause allowed the buyers to cancel the purchase without any further consequences, provided that they make the decision to get out of the contract within the period stipulated in the clause.
To provide further solutions for the issue and in an attempt to regain lost reputation, many timeshare management companies are offering owner-friendly exit options and take-back programs that make it possible for timeshare owners to get rid of their unwanted contracts in 2019. However, most of these programs are not buy-backs, which means that money does not change hands, but at least the owner does not have to spend any more money on the maintenance of an unwanted property. If you still looking for advice, call on a timeshare attorney Tampa area to get all your options.
First Posted right here: Why 2019 Is A Great Time to Get Rid of Your Timeshare?
via Blogger Why 2019 Is A Great Time to Get Rid of Your Timeshare?
There are millions of timeshare owners in the U.S. alone and while many of them are happy with their purchase, others aren’t. Unhappy owners will sooner or later start looking for ways to get rid of their unwanted timeshare and as the handiest way to get rid of property in most cases is selling, most people who no longer want their timeshares will use legal tactics to sell my timeshare now and try to put their property on the market. Unfortunately, the second-hand timeshare market has quite a few scammers who benefit of owners desperate to get out of their timeshare contract, so here are a few signs that the offer you have received from an interested buyer or an agent is a scam:
First Seen here: Signs You May Have Fallen for A Timeshare Resale Scam
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One way to get rid of an unwanted timeshare is to first to ask yourself how do I sell my timeshare property and legally, in other words, to transfer it. Even though in many situations, the transfer might be the only way to put the unfortunate decision behind you and to get rid of your timeshare for good, the process is usually very complicated and not very lucrative. Here is why:
Original Post here: Why Transferring Your Timeshare Isn’t A Great Idea
via Blogger Why Transferring Your Timeshare Isn’t A Great Idea
Timeshares are usually sold to people invited to presentations held by experienced sales people who highlight the best features of the property and urge participants to make the decision of buying into the timeshare right away. While owning a timeshare might be the perfect vacation solution for many, here are a few of the most common mistakes made when making the investment:
Originally Posted right here: Common Mistakes Made When Investing in A Timeshare
via Blogger Common Mistakes Made When Investing in A Timeshare
Cancellation policies offer timeshare owners the possibility to get out of the contract that they have signed without consequences for the period of time specified in the contract’s cancellation clause. The easiest way to find out whether your contract includes such a clause is to consult the contract itself – w
hile reading the contract should have taken place before you signed it, in most cases, the document still gives you a few days to do so and to change your mind about the purchase.
In case your contract does not include a cancellation clause, you have several possibilities. You can contact the seller to discuss the issue or you can turn to a lawyer who specializes in selling timeshares legally. One thing you need to be aware of is that most states in the U.S. require timeshare providers to include the grace period into all their contracts, so theoretically, you have the right to cancel the timeshare for a short time after signing it, whether the clause appears in your contract or not, but timeshare law is complicated and different in each state and the governing law for the contract will be the law of the state where your timeshare is located, not the law of your state of residence.
Original Post here: How to Find Out If Your Timeshare Has A Cancellation Policy
via Blogger How to Find Out If Your Timeshare Has A Cancellation Policy
If you bought a timeshare on an impulse a while ago and the ownership feels more like a burden than an opportunity to relax in a wonderful place, you can include the resolution to get rid of it on your list of the things to accomplish in 2019. Here is what you should do:
Original Post over here: Resolve to Get Rid of Your Timeshare in 2019
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Timeshare properties and the terms and conditions promised to prospective owners are always very attractive and in most cases, the sales person who presents the property does not make false promises, but even so, many timeshare owners become disappointed with their decision very soon after signing the contract or when they first visit the property they have bought the right to use – here is why.
The ultimate document that includes all the important information regarding the property as well as the rights and duties of the timeshare buyer is the timeshare contract, yet it is also a document that is often signed by the buyer without reading it first. Contracts are strictly regulated documents all over the world, contractual conditions are binding, therefore timeshare management companies don’t make the mistake of including clauses that they cannot comply with. However, marketing presentations have been invented to sell products by showing them in the best light and not by pinpointing weaknesses, so whenever you listen to a sales pitch that presents property, you need to be prepared that the complete truth is probably a little bit more complex than what you see and hear during the presentation.
The three best methods to make sure you get what you expect to get is to read the contract, to ask questions to an experienced timeshare attorney Tampa offers before you sign it and to be cautious when you hear a spectacular presentation – stick to these three tips and you will surely make the most of your vacations spent on your timeshare property.
Original Post over here: Did You Get Everything You Were Promised in Your Timeshare?
via Blogger Did You Get Everything You Were Promised in Your Timeshare?
When you buy timeshare, the total sum that you agree to pay for it includes the down payment as well as resort operational costs called yearly maintenance fees. Some resorts require owners to pay on a monthly basis, others require annual payments, but all companies selling timeshares charge fees.
The maintenance fees that you, as the owner of the timeshare, must pay are used by the management company to cover various costs, such as property upkeep, insurance payments, the fees of the management company, utilities, property refurbishing and taxes. The amount you will be required to pay for property maintenance depends on the size and the type of the property as well as on the resort. Yearly costs usually start around $1,000 for a relatively small property on a medium-priced resort and can go up to thousands of dollars for large and high-end properties.
Timeshare ownership might incur some unexpected expenses as well, such as the costs of property repair or restoration in the case the resort is affected by a natural disaster or the one-time costs of some sort of major improvement, such as a new tennis court. To be able to accurately budget and calculate whether buying or keeping a timeshare is suitable for you, try to find out all you can about these expenses from your management company.
Originally Posted over here: Understanding a Timeshare’s Yearly Fees
via Blogger Understanding a Timeshare’s Yearly Fees
Timeshares might look great when they are described during the sales pitch, but in fact, they are not very lucrative investments and they always leave you asking how do I sell my timeshare property without damaging my credit. Here is why:
First Posted here: Why Timeshares Aren’t Lucrative Investments
via Blogger Why Timeshares Aren’t Lucrative Investments