Original Message:
Re: CANCELLING A DEVELOPER BOUGHT TIMESHARE IN FLORIDA ... (by KC):
jayjay wrote:The following is information good to know if someone has recently bought a timeshare in Florida and are considering rescinding the purchase.You may cancel this contract without any penalty or obligation within 10 calendar days after the date you sign this contract, and within 10 calendar days after the date you receive the approved public offering statement, whichever is later. If you decide to cancel this contract, you must notify the seller developer in writing of your intent to cancel. Your notice of cancellation shall be effective upon the date sent and shall be sent to ...(Name of Seller Developer)... at ...(Address of Seller Developer).... Any attempt to obtain a waiver of your cancellation right is void and of no effect unlawful. While you may execute all closing documents in advance, the closing, as evidenced by delivery of the deed or other document, before expiration of your 10-day cancellation period, is prohibited.
For your protection, should you decide to cancel, you should either send your notice of cancellation by certified mail with a return receipt requested or obtain a signed and dated receipt if delivering it in person. Your notice of cancellation is effective on the date sent (postmarked) or delivered to the seller.
This is good stuff --- and thank you for posting it.
However, I'll clarify / add to the above by pointing out that the contract document will spell out, in detail and in writing, the appropriate means to exercise your right of rescission (usually in tiny font, very near the end of the document). If it says you must rescind "in writing, by mail", *PLEASE* know and very clearly understand that emails, telephone calls or fascimile transmissions (fax) are *NOT* a legally adequate substitute!
Also, hand delivery of your notice of rescission is almost always a VERY bad idea, since doing so just gives the seller another face to face opportunity (....on his/her turf, not yours) to try to convince you NOT to rescind. Also, in your attempt at hand delivery, the seller could simply refuse to sign any form of hand delivered receipt for your notice of rescission, thereby putting the onus right back on you to prove *legally adequate* rescission, as is identified in writing within the contract.
In short, don't "ad lib" and decide for yourself a "better" way to rescind your contract than that which is clearly spelled out in writing within the contract document itself.
CAVEAT EMPTOR (Buyer Beware).