The timeshare industry is a trillion dollar industry worldwide with companies like Wyndham, Hilton, Diamond, Westgate, Bluegreen, Marriott, Westi
The timeshare industry is a trillion dollar industry worldwide with companies like Wyndham, Hilton, Diamond, Westgate, Bluegreen, Marriott, Westin, Vacation Internationale and many others selling multi - millions of dollars of timeshares every year.
A quick search of the internet will reveal that after the initial glow of a timeshare purchase, owners have had second thoughts and are finding that they are saddled with the ever increasing fees that go along with timeshare ownership.
While most timeshare companies profess that their timeshares have value on the open market, a "timeshare" search of eBay or Craigslist will reveal hundreds of timeshares available for as little as one ($1.00) dollar. The reason for this is simple, the cost of owning a timeshare, in most cases, is far more expensive than going on a comparable vacation.
If you have ever tried to give back your timeshare to the timeshare developer, you will find that it is virtually impossible to get the timeshare company to take back their timeshare.
Moreover, many of the timeshare companies profess that they will assist you in selling or renting out your timeshare. However, in most cases this is simply not true.
While many timeshare companies maintain that their contracts are non – cancellable, this statement is nothing more than intimidation designed to deter those no longer interested in timeshare ownership from getting out of their timeshare contract.
This misconception, that timeshare contracts are not cancellable, is perpetuated by timeshare companies and user groups that are funded, maintained and controlled by the timeshare industry.
The truth of the matter is, however, that under the law, contracts are cancellable for a variety of reasons, including failure of consideration, fraud and mistake.
So if I have a timeshare that you are no longer able to afford or simply want to sell it what can you do?
Call your time – share company and see if they are willing to take back their timeshare. If they are not and its seems like you will be stuck with the timeshare and its obligations to pay maintenance fees for life, you should consult with a lawyer familiar with timeshare litigation.
In sum, you should not have to be saddled with timeshare fees forever. There is hope.