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Dear Bob, While some people really like timeshares, most people spend their time trying to get rid of them. If you realize that you do not want the timeshare right away, most timeshare contracts have a window of time to cancel the contract. Usually, this window of time is only a few days long.
I assume that you are beyond the cooling off period and now appear to be stuck with the timeshare. If this was a Minnesota timeshare, instead of a Florida one, the cooling off period does not start to run until you get a copy of the contract, and a copy of the public offering statement of the timeshare if the project consists of more than potential sales.
See Minnesota Statutes Section A public offering statement tells you more information about the timeshare company.
To cancel it, in Minnesota, you have to send a written cancellation notice to the seller to the address in the contract. The cancellation does not have to be in a particular format and it is effective on the date of mailing.
I do not know if Florida law is similar. Perhaps your cooling off period has not started if Florida has a similar law and you have not received everything in writing. The first thing you have to do is to know what you bought. I presume you own a fixed week, because there was no deed to you.
There are other kinds of timeshares like deeded property, life property, floating time, and points. If you do not know what you own, call the main office at the time share resort in Florida and ask for this information in writing.
Sometimes, if you are current on the fees, you may be able to convince the resort to take the timeshare back. Sometimes, the contract actually gives the resort a right to buy it back first, typically at a percentage of what you paid.
What if the timeshare resort does not buy it back? Timeshares are a depreciating asset. There are always more sellers than buyers for timeshares. It is likely that you will lose money on the timeshare in order to get rid of it, but if you get rid of it, you will save yourself all those fees.
It is also likely that the fees will increase over time as the condo gets older. If there is a fire or other damage to the condo that the insurance does not cover, there may even be risk that you will have to help pay for repairs.
In other words, even if you take a big hit in getting rid of the timeshare, you probably will save money in the long run. So, what happens if the resort refuses to buy it back from you? Unfortunately, you cannot force them to take it back.
You can try to sell the timeshare on Craigslist, Ebay, in the classifieds either in the paper or on-line in a reputable timeshare site.
Ebay will have a small charge. Do not pay anything upfront other than a small fee e.Greetings from Dean Alison J. Smith! Welcome to the Honors College! Kent State University's Honors program is one of the oldest in the country, and is today a thriving and exciting community with students in majors from every college within the university.
Photographers are struggling to find new locations for senior portraits or perhaps they are just struggling to find new ways to photograph their seniors in the same old locations. This article will provide ideas for new locations to provide your client with the "different" experience they desire.
Greetings from Dean Alison J. Smith! Welcome to the Honors College! Kent State University's Honors program is one of the oldest in the country, and is today a thriving and exciting community with students in majors from every college within the university.
Battlefield Middle School's Science Fair Page - suggestions for science fair project topics, and links to science fair sites.; It's Science Fair Time - this site provides detailed instructions and resources designed to assist the teacher in developing an 8 week science fair game plan.; Mr.
MacSween's Science Fair Page - information on these areas: choosing a topic, designing an experiment. Kristin Parendo. If you are 60 years old or older, the Senior Citizens’ Law Project may be able to help you! We focus our efforts to those with the most social and economic need, but otherwise we have no income or asset eligibility guidelines.
Choosing a college is a big and exciting decision. Explore your interests and take the time to find a college that will put you on a path to a bright future.