Legal Question in Real Estate Law in Florida

Backing Out of Timeshare Purchase Contract

I would need to read the purchase contract and review the laws of your state before I could begin to advise you on whether or not you can back out and what the penalties might be. In many real estate contracts, the seller has the option of simply settling for forfeiture of the earnest money deposit if the buyer reneges. However, they also sometimes have to option to sue for performance of the entire contract including future payments. In any event, a contract for purchase of a time share would probably be dischargeable in bankruptcy. Some time share operations have injunctions against them due to State authorities having sued them for violation of consumer protection laws. If this is true in your state, you may also be able to use this to your advantage. The industry is rife with "sharp" business practices such as selling virtually worthless rights for outrageous prices. Often these so called "investments" have little or no resale value.

Re: timeshares

i have been successful in returning these deeds.