Legal Question in Real Estate Law in Illinois

I purchased a timeshare last year and did not fully know my rights. The salesperson never told us verbally or pointed out that there was a legal period during which we had to cancel the contract and so when my husband and I returned home with buyers remorse, we just assumed we were stuck with it because we had signed all the paper work. We have been paying for this timeshare for the last year but have never used it. Is there a legal way to get out of this contract?


Asked on 12/20/09, 4:55 am

1 Answer from Attorneys
Adam S. Tracy Securities Compliance Group Ltd

Thank you for your question. I have actually had a few people come to me with similar issues. If you were defrauded or otherwise mislead upfront by the Timeshare broker, you have grounds for rescinding (e.g., terminating) the contract and may have a cause of action (e.g., case) for suing them to return the money you already paid to them. Interesting scenario here, and, unfortunately, somewhat common at the same time. Feel free to contact me if you have any further questions. My email address is [email protected]

Thanks,

Adam Tracy

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Answered on 12/25/09, 12:47 pm


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