Legal Question in Real Estate Law in Nevada
Timeshare Scam
My wife & I were pressured into signing a timeshare contract in las vegas on 9/4/07, we put a $300 down & $800 + $399 closing cost on hold until 9/24 on our debit card.
we decided to sign because they told us it is a very good investment and if we decide to sell, we will make a profit, we found out on the internet a couple of weeks later that is completely false so we cancelled our debit card before they can take the remainder of the downpayment and emailed a letter to cancel our contract, they quickly responded by saying they will turn our account over to their legal dept. if we don't pay and a lawsuit will seek recovery of the entire contract balance plus lawyer's fees and interest accrued and furthermore, garnish our wages and levying our bank accounts. our question is, can they really do all this and what are our chances of winning this if the sue?
p.s. the timeshare resort isn't even built yet and we havent made our first scheduled monthly payment.
thanks in advance.
4 Answers from Attorneys
Re: Timeshare Scam
First of all, you weren't "pressured" into signing. You most likely took advantage of a free weekend in Los Vegas in exchange for attending a timeshare presentation. You are probably referring to the Tahiti Village resort. I took advantage of the same offer.
I too agree top purchase a timeshare from Tahiti Village. When I got back, I found out that I could buy equivalent timeshares on the resale market for 1/3 of the price. I exercised my right to cancel the purchase within the 3 days allowed under Nevada law.
It wasn't a scam, your just have buyer's remorse after making a bad decision. You did not cancel in time and you need to consult a Nevada attorney regarding your obligations.
Re: Timeshare Scam
Oh please. You were pressured. Give me a break. Read The Friendly Contract to find out what your legal rights & obligations are.
Re: Timeshare Scam
Good afternoon. Thank you for your inquiry. It would be difficult for me to accurately analyze your situation without reviewing your purchase contract. The terms and conditions contained in the purchase contract will dictate your potential remedies.
I would encourage you to contact my office if you would like to consult an attorney. My office frequently handles such matters and would be able to advise you properly on Nevada law.
As your contract was signed in Nevada, Nevada law will control your remedies. I would caution you in purusing your matter solely on the glib advice of California counsel.
Best Regards,
Jim Herbe
www.breedenherbe.com
Re: Timeshare Scam
If after reading the contract you find that your maximum obligation is only $800+$399, it is somewhat unlikely that they will pursue you, even if you did agree to a prevailing party attorney fee. I cannot guarantee you won't be sued, but I do think the odds are pretty high that the letter you got is a bluff (after all, it is Las Vegas).
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