Timeshare Resorts Lawsuits
The timeshare industry generates billions of dollars in sales, and this is due to the industry’s ability to adapt to current realities. For every timeshare purchase, a resort gains a source of lifelong revenue, with a legally binding document that remains valid even after death. Problems always creep in when a timeshare owner wants out of the contract.
Due to the volume of the timeshare contract and the dishonest tactics employed by some resorts when selling the idea to consumers, a “door” was left open for timeshare owners seeking to cancel their purchase contracts. Known as timeshare divestment, this “door” allowed timeshare owners hire the services of a licensed attorney who would negotiate with the resort for the release of the timeshare owner from the contract.
Timeshare divestment served as a legal recourse initially. Following the examination of the timeshare purchase contract by an attorney, legally cognizable claims such as duress and fraud would be extracted with relevant facts and evidence in order to negotiate the release of the timeshare owner from the perpetual timeshare purchase obligations. Over time, however, timeshare divestment shifted from a legal recourse or remedy to a business.
As people noticed that resorts were willing to cancel the contracts of timeshare owners regardless of the validity of the owner’s claims, a new money-making idea crept in. Timeshare divestment was marketed by timeshare cancellation companies as an escape route for any willing timeshare owner. Timeshare cancellation companies charged in excess of $5,000 as upfront fees to help timeshare owners get relief from their contract.
While they found some success sending generic one-page letters to these resorts initially, the timeshare industry soon discovered this scheme and started investing timeshare divestment’s individually. The result? There are now lots of lawsuits against resorts seeking timeshare contract cancellation. Needless to say, those who paid the huge upfront fees lost the money forever.Timeshare Resorts Lawsuits
This does not mean that all timeshare divestment’s are now invalid, as many resorts still use fraudulent means to entice consumers to sign timeshare purchase contracts. If a timeshare owner seeks legal redress in this case, the resort could lose the case based on the merits. However, timeshare divestment alone does not guarantee a successful legal outing. Some of the largest resorts do not have incentives in place to ensure timeshare owners can cancel their contracts unless a case of manipulative tactics, fraud, and duress is proven in court.
If you are a timeshare owner and you want out, do not be discouraged. Hiring a licensed attorney who will represent your interests – and explore all legal avenues from divestment to litigation – is a great way to navigate through the murky waters of your timeshare contract and have the peace of mind you deserve.