British Timeshare consumers have to come to the understanding that when they visit another country and enter into a contract on (what I would class as) foreign soil, they submit to the laws of that country and in the case of the USA the state.
Therefore dismiss any belief that you are covered under the regulations which govern the UK and the EU.
This being the case British consumers need to understand that when considering the terminology of other legal systems the words use can invariably mean different things
Cooling off Periods in the USA
Each state in the USA is akin to a different country, as each state has its own civil laws which govern the people’s home life, consumer’s rights and worker rights.
In respect to timeshare contracts in the USA (the acquisition of those contractual rights promises and obligations) each state passes its own laws regarding the amount of time you have after buying a timeshare property to return it for a full refund.
The tradition of returning an unwanted timeshare shortly after purchasing is known as “Timeshare Rescission”, or rescinding.
The timeshare rescission procedure refers directly to the interval of time that is legally allowed to lapse before you can no longer give back/return a timeshare contract, or alter your mind about your timeshare procurement.
The ability to return a superfluous timeshare shortly after acquiring it, is not something the USA timeshare salesperson is likely to mention. That said it is built into every state’s legal code as a protection for consumers; most British consumers tend to refer to this time as the “cooling off period” following the purchase.
It makes no difference if you purchased your timeshare is through RCI, Wyndham, Celebrity, Disney, Fairfield, Hilton, Hyatt, Marriott, or another timeshare exchange company, the Right to Rescission is entirely dependent on the state law where the timeshare property was acquired.
Each set of documents/purchase papers accompanying a timeshare sale will include form explaining how to rescind.
It will likely be titled something similar to, “Notice of Mutual Right of Cancellation of Time Share Purchase.”
Suggested letter of Rescission
Dear Sir
Re xxxxxxxxxxxxxxxxxxxxxxxx
My name is xxxxxxxxxxxxxxx and the contract which I entered into is identified to you as xxxxxxxxxxxxxxxxxxxxxxx reference number xxxxxxxxxx
I attended a sales presentation on the xxxxxxx. the location of the presentations is identified to you as xxxxxxxxxxxxxxxxxxxxxxx.
I am entitled to rescind the contract under state law and do just that and this day.
I have kept a copy of this letter for my records and ask that you acknowledge the same.
Kind Regards
Xxxxxxxxxx
Date xxxxxxxxxxxxxxxxxx
Time of sending xxxxxxxxxxxxx
The notice periods for each USA States are listed below:-
Note business days and Monday-Friday
Days are classed as Monday –Sunday
No available data is likely to mean that you are not entitled to a cooling off period.
List of States
Alabama – No data available
Alaska – 15 days
Arkansas – 5 days
Arizona – 7 days
California – 7 days
Colorado – 5 days
Connecticut – 3 days
Delaware – 3 days
District of Columbia – No data available
Florida – 10 days
Georgia – 7 days (business)
Hawaii – 7 days
Idaho – No data available
Illinois – 5 days
Indiana – 3 days (business)
Iowa – 5 days
Kentucky – 5 days (business)
Louisiana – 7 days
Maine – 10 days
Maryland – 10 days
Massachusetts – 3 days
Michigan – 5 days
Minnesota – 5 days
Mississippi – 7 days
Missouri – 7 days (business)
Montana – 7 days
Nevada – 5 days
New Hampshire – 5 days
New Jersey – 7 days
New Mexico – 7 days
New York – 7 days
North Carolina – 5 days
North Dakota – No data available
Ohio – 3 days
Oklahoma – No data available
Oregon – 5 days
Pennsylvania – 5 days
Rhode Island – 5 days (business)
South Carolina – 5 days
South Dakota – 7 days
Tennessee – 10 days
Texas – 5 days
Utah – 5 days
Vermont – 3 days
Virginia – 7 days
Washington – 7 days
West Virginia – 10 days
Wisconsin – 5 days (business)
Wyoming – No data available
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk