TORRANCE, CA--(Marketwired - Apr 8, 2013) - Proposed legislation in Florida will make it more difficult for timeshare owners to legally exit their timeshare resort contracts after July 1, 2013. The Florida Vacation Plan and Timesharing Act (HB 7025) will make numerous industry-backed changes to Florida's timeshare laws. The legislation has passed in the House of Representatives and is expected to pass the Florida Senate.
The developer-friendly legislation targets timeshare owners hoping to exit their unwanted timeshare contracts and the companies who assist them. If passed, the law will create more obstacles for timeshare owners who wish to legitimately exit their ownership. It also assists resorts in keeping timeshare owners liable for ongoing maintenance fees and property taxes even though the owner no longer utilizes the timeshare and has taken legal steps to end the ownership.
Timeshare resort lobbyists, like Jason Gamel with the American Resort Development Association (ARDA), drafted this and similar bills to make exiting timeshares more difficult for consumers. The final stop will be the desk of Governor Rick Scott, and the new law could take effect as early as July 1, 2013.
Timeshare owners who may be hurt by the proposed legislation include members of the "silver tsunami" (senior citizens) as well as military personnel or any owner who does not wish to retain their timeshare, either because of lifestyle changes, age, or new interests. The proposed legislation could be beneficial to the resorts and pose financial hardships to timeshare owners.
The timeshare industry is flooded with unhappy timeshare owners who have unsuccessfully sought assistance from their resorts in the face of rising maintenance fees, declining services, and overall dissatisfaction with their timeshare ownership. The cost is high for timeshare owners who no longer want or use their properties, with average annual maintenance fees of $731, according to the American Resort Development Association (ARDA).
"Florida timeshare owners who no longer want or need their timeshare should get out now before the law may take effect July 1st," says David MacMillan, president of Right Choice Transfer.
A timeshare owner assistance company in California, Right Choice Transfer, is an industry leader in helping owners exit their timeshares. They use third-party companies to transfer the property, and provide a written guarantee for their services. Right Choice Transfer, and its affiliates, has assisted more than 85,000 families to get out of their timeshare ownerships.
To read the most recent action on the pending House of Representatives Bill (HB 7025) refer to: http://www.myfloridahouse.gov/Sections/Bills/billsdetail.aspx?BillId=50197