A timeshare purchase is not an ordinary purchase that you can just take for granted. It involves a considerable amount of money and also of financial responsibility. Once you realized you have a mistake in your decision to purchase, it is not that easy to get out from your timeshare contract. So, take a careful planning and gather enough information about timeshare if you intend to own one. Meanwhile, some of the aspects that you have to be aware of when you own a timeshare are the laws regarding timeshare sale.
First, be informed that almost all states in US have a rule of rescission. This is the time period in which the buyer can change his mind and cancel the sales contract without forfeiting any money.
Also, some states like Florida have timeshare laws that may give a deed purchaser some overall insight into the types of laws that surround sale of timeshare property. To be sure, check with the particular state regulating agencies where the timeshare property is located for more complete information.
Another law to be aware of is the Interstate Land Sales Full Disclosure Act. This act was designed to protect consumers from fraud and abuse in the sale or lease of land.
Be smart if you plan to buy a timeshare and be aware of those points mentioned above. Do not be like those other timeshare owners who are now trying to get rid of their timeshares because of unplanned and uninformed purchase. Some of these owners even hire a timeshare transfer company such as the Transfer Smart. Moreover, it is also advised to not sign a contract with a timeshare reseller until you have all of the written contract details in hand to review ahead of time and preferably with an attorney.