Timeshare legal issues have recently become an increasingly common topic, especially in relation to recent changes in the housing economy. A timeshare is a type of property that can be used part-time during specific times or seasons of the year. They are generally used for vacation, traveling, or temporary lodging. For instance, a person may purchase a timeshare that allows them to use a Florida beach condominium during the months of July and August.
Timeshare legal issues can involve a combination of real estate, contract, and business laws. Some common timeshare legal issues may include:
- Default on timeshare payments (i.e., non-payment)
- Failure of the property (such as an unexpected timeshare foreclosure)
- Timeshare scams and fraud schemes
- Conflicts between timeshare owners (for instance, two parties being scheduled for the same time periods)
- Timeshare cancellation or rescission
- Transferring rights or giving a timeshare away
- Overlap of state laws (timeshares are frequently located in a different state than the purchaser’s home residence)
In most cases, a timeshare agreement is final once the contract is signed. On the other hand, some timeshare companies may provide a short "return window," in which a time share purchase can be cancelled or revoked. This of course depends on the individual agreement between the seller and the buyer.
In most cases, you will need to look to the purchase contract to determine how a particular timeshare legal issue may be resolved. The contract may contain terms describing what will happen if the buyer defaults on regular contract payments, or if the property is unexpectedly destroyed or foreclosed upon.
In other cases, it may be necessary to take the issue to court and have a judge intervene to prescribe a solution. A damages award or other legal remedy may result, which would help the non-breaching party recover losses resulting from the violation of contract terms.
Timeshares can sometimes involve very complex legal issues such. It’s always in your best interests to hire a qualified real estate lawyer in your area if you need assistance when dealing with timeshare disputes. Your attorney can represent you in court and provide you with legal advice on the matter. Also, your attorney can describe which types of legal remedies and defenses might be applicable in your particular situation.