Renown timeshare attorney Mitchell Reed Sussman provides a guide to timeshare exit for owners stricken by COVID-19.
As many Americans have lost their jobs, struggle to pay rent due to covid-19 sequestration policies, and suffer from lower cash flows to pay their daily bills, they are not getting a break from timeshare resort companies. While many states are preventing landlords from evicting tenants during this time, and quite a few landlords are providing temporary leniency on rent payments, the timeshare resort industry is not nearly as understanding, according to Mitchell Reed Sussman. “They still demand that fees be paid even though the properties are on lock-down.”
Specializing in timeshare exit and cancellation services for timeshare owners, the timeshare attorneys of Timeshare Legal Action give relief to those being forced to pay the ever-increasing timeshare maintenance, special assessment and mortgage fees. As a founder and pioneer in timeshare exit legal services, timeshare attorney Mitchell Reed Sussman offers several DIY tips:
- Even though a timeshare membership contract is a binding legal document, timeshare owners would be mistaken to assume that the contract cannot be cancelled. Contracts are cancellable for a multitude of reasons. Timeshare owners should ask, “Was there misrepresentation, fraud, coercion and/or failure of consideration involved?”
- Are you experiencing financial hardship and are no longer able to afford your timeshare? If the answer is yes, then call your timeshare resort to find out if they can take back the timeshare, as many of the timeshare developers provide certain relief programs for owners in financial distress.
- If your timeshare resort does not provide an exit program, don’t panic. Keep things in perspective, and take a deep breath. While it may not be apparent to you at the moment, the timeshare developer is very likely exposed legally in ways that are relatively provable and straightforward. An experienced timeshare attorney will know after speaking with you, what your options are and the best cancellation strategy to fit your needs.
A results-driven timeshare attorney practicing law for over forty years, Mitchell Reed Sussman began litigating on behalf of embattled timeshare owners over a decade ago, and takes timeshare companies to court on behalf of his clients as a regular practice. Through the years his law firm has helped literally tens of thousands of timeshare owners from all over the world be relieved of their timeshare burdens.
The current COVID–19 crisis has resulted in a strong uptick of timeshare exit cases for the Sussman firm. The reasons are two-fold. First, there is financial pressure on owners who are either out of work or on furlough. Second, many of the resorts are either not open or simply unavailable. But do not despair, there is relief available for those in need. If your timeshare does not have a program for you, look for a reputable timeshare attorney experienced in this field. Most of all, do not give up hope. This too shall pass.
The law offices of Mitchell Reed Sussman & Associates is a leader in legal timeshare exit and release. For more details about getting rid of a timeshare, call 1-800-233-8521 or complete a quick form to exit a timeshare with our proven timeshare cancellation process.
Timeshare consumers often sit through high-pressure timeshare sales pitches and misleading presentations. They discovered that the timeshare resort did not deliver on their promises, and found out to their dismay that timeshare memberships have little to zero resale value.
Purchasing a timeshare typically demands a sizable upfront fee, with timeshare prices typically ranging from ten thousand dollars to sixty thousand dollars. Also, the consumer has to pay the annual maintenance fees, special assessment fees (such as for renovations, repairs, and remodels from hurricanes, tornadoes and fire damage), property taxes, transfer fees, etc., totaling from a few hundred to over a thousand dollars.
Additionally, timeshare owners are realizing they pay over the market average price for a resort unit they might use just one week a year. Owners in such situations are advised to contact a timeshare attorney that they trust to legally exit their timeshare.
Timeshare and vacation club owners often easily tire of traveling repeatedly to the same vacation destination. While many resorts have exchange programs for owners to exchange their timeshare units across various resort locations, the exchange fees usually cost more than was presented to them at the timeshare sales presentation. Many owners attempt the uneasy task of selling a timeshare unit.
During the severe COVID-19 lockdowns, work furloughs and layoffs, the timeshare consuming public as well as timeshare attorneys and timeshare exit lawyers notice that timeshare resorts do not provide owners a one-year break on paying maintenance fees and even timeshare mortgage payments. If a timeshare owner cannot safely use the property, the resort companies should not charge them for it. Timeshare resorts should provide a simple exit service for their timeshare owners going through a medical, financial or other hardship, and make it possible for all paid-in-full timeshares to be transferred back to the resort at no cost.
The supply of resale timeshares far outweighs the demand for the new ones, and owners find it nearly impossible to unload their memberships. Frustrated with too many fees, timeshare owners struggle to donate, sell or even give away their vacation properties, and eventually realize that they should get an evaluation with an experienced timeshare cancellation lawyer.