Florida's Timeshare Resale Accountability Act

The governor of Florida latterly signed the new state timeshare law. The Timeshare Resale Accountability Act is a start in controlling and regulating timeshare resale fraud. This new law requires all businesses to supply the contact info of the buyer who has an interest in purchasing the timeshare from a seller. This inhibits firms from claiming they have got a customer when in reality they don't. Though this new law doesn't prevent and cover all cons it's a excellent start in shielding timeshare owners. 

Effective July First the Timeshare Resale Accountability Act insures that all businesses will face a penalty if they exaggerate having a consumer waiting to buy a timeshare from a seller, if they collect payments from the sellers before a written arrangement is signed by the seller, and if they don't respect the seller's right to cancel within seven days of signing the contract or fail to offer a refund inside 20 days of the cancellation date. 

Though this new law is astounding, it only protects timeshare owners from some scams and only in Florida. Many client advocates, like Transfer America, hopes to inform timeshare owners of the likely scams out there. The main stipulation of this law is to make certain that all businesses who tricks a seller into stumping up for a non-existent service. 

But another scam this law does not protect timeshare sellers from is agencies who charge an upfront fee to help in selling a timeshare. In several instances, these corporations guarantee to aid in selling a timeshare, but end up disappearing when they receive compensation from the vendor. Attempting to get money back is also most unlikely because in most situations the telephones are disconnected and emails remain unanswered. Additionally, this act fails to address unlicensed resellers and does not control high pressure sales spiels. These high pressure sale techniques sometimes offers free or discounted holidays or other incentives as long as you attend a timeshare presentation. 

As of today, the Timeshare Resale Accountability Act applies only to Florida typically because over half of all timeshare properties are located there. Also, Florida initiatives are infrequently in a position to help deter timeshare stings across the U.S. The subsequent steps in the search of obliterating all timeshare resale fraud are to bump for the shutting of loopholes in Florida's legislation and for similar legislation to be passed in states such as California and Hawaii. 

If you would like to really get out of your timeshare for all time without being tricked, contact Transfer America today. Transfer America has helped thousands of timeshare owners' escape from their timeshares and they are continuing to do so today.