Legal Question in Real Estate Law in California
We purchased a TimeShare and believed we had a 30-day period to arrive home and consider all of the bulk of information that came with the purchase. Upon arriving home, I was laid off from work and we sent a cancellation letter to state that we needed to cancel our purchase, as we could no longer afford the payments. We had not taken advantage of any benefit at that time. We were told by the company that we did not cancel within the 10-day window given. (our vacation was longer than that period) Is there anything that we can do in order to avoid becoming a delinguent account with them? We are not interested in purchasing the TimeShare and we are not able to pay the payments.
1 Answer from Attorneys
Sorry to hear that you got bad news about your job upon return from vacation. The starting points for a lawyer trying to assist you would be (a) what state's law is going to govern? and (b) what do the papers you signed say?
Perhaps the timeshare is in California, in which case California law is likely (but not certain) to govern your deal, but hearing that you signed up for this timeshare while on vacation opens a host of possibilities, as we know that a LOT of time-share activity is in other states like Hawaii, Arizona, Nevada and Florida, or even in non-U.S. jurisdictions such as Mexico and the Dominican Republic.
Then, a lawyer would want to look at every paper and every clause in most of the papers, to look for:
(1) Deceptive promises in the glitterature;
(2) Proper disclosures;
(3) Applicable law selection clauses;
(4) Dispute-jurisdiction selection clauses;
(5) Rights of rescission;
(6) Whether what you bought was real property or a personal-property right in real property;
(7) Whether you bought an interest in real property or merely have a conditional sale agreement or so-called "contract for deed;"
(8) What you agreed to in the way of financing and whether and how the financing can be enforced against you if you default; and
(9) The attorney should look for mediation, arbitration and attorney-fee provisions.
The really big issues are what law is applicable and what do the papers say.