www.dotcomhunter.com Know your Timeshare Rights One of the biggest reasons why many people fall into the trap of sc ammers and frauds is that they do know their legal rights when buyi ng a timeshare. It is always a good practice to know your rights wh en you are signing any contract or agreement. As with any other ind ustry timeshare industry is also prone to unscrupulous tactics by s ome people. Everyday you hear a story of somebody being duped into buying a timeshare and the property doesn’t even exist or in some c ases, is not up to the standard and what they were promised. We her e these horror stores and we should learn from these. Here are few things that you should remember while buying a timeshare. To understand our rights let us understand different types of timesha re plans first. They are basically of two types. A deeded and title t imeshare and the second one are right to use also as called license t o use timeshares. A deeded and title and ownership means the buyer ow ns the timeshare and acquires a specific facility for a specified len gth of time each year, for a specified number of years (generally 40 years) and a deed. A right to use timeshare means the buyer has the r ight to acquire all the above mentioned things except the deed i.e. t itle. A deeded timeshare is inheritable whereas a right to use timesh are is like a lease which expires after certain number of years. Timeshare industry has also acquired the reputation of used car indus try in terms of selling tactics they use. It starts off with an invit ation to a presentation offering you an expensive gift. When you actu ally go there it turns out to be a pressure selling session of a used car dealer who doesn’t want you to go out unless you sign a paper. A nd the expensive gift also turns out to be a mere gimmick. And the pe ople have to go through the trauma of sitting through the presentatio n which goes on for two hours also sometimes, full of pressure sellin g tactics. But as per the law the people are supposed to be informed about the length of the time they have to sit before receiving a free gift. Also they must be informed about the physical condition of the facility. The timeshare companies are also legally not permitted to misrepresent the market value of the timeshare property. They are als o not supposed to misinform you about the resale or exchange potentia l of the timeshare property. The law also prohibits the timeshare companies from not including th e oral promises that were made before the purchase of the property i n the written contract and also including any kind of fees that were never ever mentioned orally. The rules may vary from state to state . Some states also have a cool-off period usually of two weeks to al low you to cancel your contract should you change your mind. A gift from www.dotcomhunter.comwww.dotcomhunter.com Apart from these rights one should also consider things such as do y ou really want to buy the timeshare? Did u check out the facility? D id you contact the better business bureau? Did you talk to existing owners in the timeshare property? Do you plan to rent it? Do you pla n on reselling it? Do you plan on exchanging vacation sites frequent ly? The answers of all these questions should be found out before ma king a final decision about buying a timeshare. PPPPP Word Count 562 A gift from www.dotcomhunter.com