Buying, Renting, and Selling Timeshares

CANCELLING A DEVELOPER BOUGHT TIMESHARE IN FLORIDA ...

1

vote

Sep 09, 2007

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.

Avatar for R P.
R P.

0

votes

Sep 09, 2007

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).

Avatar for KC
KC

0

votes

Sep 09, 2007

I agree that one should read their contract concerning any rescission process, however I was mainly providing the timeline (10 days) in the state of Florida and that the postmark was the major factor in verifying date/time stamped that the certified document with return receipt (rescission) was mailed. The date/time is of the utmost importance.

Avatar for R P.
R P.

Last edited by jayjay on Sep 09, 2007 11:23 AM

0

votes

Dec 22, 2020

Me and my fiancé was just at Westgate Resort in Orlando Florida 12/17/2020 they talk us into buying a timeshare on 12/19/20 after looking at the reviews before we checked out 12/20/2020 we sent out our rescission letter and got it notarized and certified mail I got a confirmation from usps stating that they received the package we sent absolutely EVERYTHING back tablets and all I’m just scared I don’t want to be caught in they web of lies

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Avatar for Andrea R.
Andrea R.

0

votes

Dec 23, 2020

That's great that you found out about the rights of rescission in time and that you followed the directions carefully, although getting it notarized was unnecessary and, hence an unnecessary expense.

Just remember that Westgate has up to 45 days to refund you but likely won't take that long. Keep an eye on your credit card activity to see when it gets refunded. There's also no need to contact anyone at Westgate or the resort asking about your rescission progress. Also, watch out for any unfamiliar phone calls coming your way. They might be someone from Westgate trying to get you to change your mind.

Avatar for Lance C.
Lance C.

0

votes

Apr 07, 2021

Hello, we are on the exact same boat as you were and are in the process of getting this cancellation completed. Did you come across any problems in your process?

andrear319 wrote:
Me and my fiancé was just at Westgate Resort in Orlando Florida 12/17/2020 they talk us into buying a timeshare on 12/19/20 after looking at the reviews before we checked out 12/20/2020 we sent out our rescission letter and got it notarized and certified mail I got a confirmation from usps stating that they received the package we sent absolutely EVERYTHING back tablets and all I’m just scared I don’t want to be caught in they web of lies

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Avatar for Araceli Z.
Araceli Z.

1

vote

Apr 09, 2021

araceliz4 wrote:
Hello, we are on the exact same boat as you were and are in the process of getting this cancellation completed. Did you come across any problems in your process?

Let's be very clear here. State law REQUIRES that any and every developer in the U.S. must process a timely and properly submitted cancellation and issue 100% refund (within 45 days) of any deposit or payment made at the time of contract execution. IT''S THE LAW --- it's not a voluntary act of kindness or generosity voluntarily provided by the developer. They quite simply have NO CHOICE in the matter.

Even with slimy Westgate, no one ever has "problems" cancelling a contract, as long as they do so in writing, under signature, sent to the correct address and within the time period provided by individual state law. The cancellation time period is 10 days in Florida, among the longest in the U.S. In most states, the cancellation period is 5-7 days. In a few states, the rescission period is only 3 days!

Developer sales weasels may (and do) routinely lie through their teeth in order to make a sale, but NO timeshare developer is ever going to risk running afoul of the law by failing to honor and process a timely and properly submitted contract rescission (cancellation). Period, amen.

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KC

Last edited by ken1193 on Apr 10, 2021 10:17 AM

0

votes

May 03, 2021

Hi, i we also purchased time share at Westgate resort in Florida and sent cancellation letter in writing within 10 days period ( it is still hasn't expired yet). Do we have to send everything else as well (kit and tablet)? Or should we wait until they respond? How did your cancellation turned out? Any information will be helpful and time sensitive Thank you

Avatar for Gal M.
Gal M.

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