If any of these scenarios apply to you, be sure to check out Nolo’s new online articles on timeshares.
- If you are thinking about purchasing a timeshare or have one you want to get rid of, check out our Buying or Selling a Timeshare topic area.
- If you are having trouble making payments or are already in foreclosure, visit our Timeshare Foreclosure topic area.
Buying and Selling a Timeshare
Timeshare salespeople are notorious for making the hard sell. All too often, people join a timeshare sales presentation in order to get a free hotel stay or round of golf, and end up walking out as a timeshare owner. Unfortunately, many folks who sign timeshare contracts do not understand the full costs involved, tax issues, or contract cancellation rights. And if you’re looking to unload your timeshare, scammers await.
Before you attend a timeshare presentation, sign a timeshare contract, or pay money to a timeshare reseller, visit Nolo’s Buying or Selling a Timeshare topic area.
In most cases, buying a timeshare is the same as buying an interest in a piece of real estate. This means that if you default on the loan payments, taxes, assessments, or developer fees, you could face foreclosure. To learn about how timeshare foreclosures work, what happens if your timeshare is foreclosed, and how to avoid a timeshare foreclosure, check out the articles in Nolo’s Timeshare Foreclosure topic area.
State Laws Governing Timeshares and Timeshare Foreclosures
Much of timeshare law, such as foreclosure procedures, rights of cancellation, required contract disclosures, and rules regulating timeshare resellers, is governed by state law. Nolo has articles discussing the specific state laws governing timeshares in California, Texas, New York, and Florida. And Nolo will be expanding this list in the near future – so check back soon to find the timeshare laws in your state.