When owning or partially owning a timeshare, there are some common legal problems that may arise based on certain factors connected with the location or circumstances. It is important to know what these common issues are and how to proceed with each so that they do not needlessly affect the person and his or her guests.
Many properties purchased for timeshare options are in locations that have several or significant amenities such as a nearness to the beach or a lively nightlife. However, there are increased concerns about timeshare legal issues based on the problems and changes in the housing and property markets. While timeshare provide only a certain time or times during the year to live in the building, the rest of the time is either equally shared with others or vacant for certain activities. Many use the property as a vacation spot, to travel for work or as a temporary location to perform certain activities. Anyone with enough vested interest may purchase a timeshare based on location and time of the year.
Legal Issues with Timeshares
Some of the most prominent legal issues that appear with timeshares include real estate complications, contract stipulations and laws dealing with business deals. Those that have timeshares may default on payments. Others could fail to pay property taxes or other expenses. Many timeshares are actually scams that certain individuals fall for when buying the interest. There are numerous conflicts that could arise when a single property is split between multiple timeshare owners. The times they travel to and live in the building may cause a problem when no one is coordinating the months or weeks in the year. When two parties have scheduled the same times for rest and relaxation, it is possible a legal battle may arise between each party or against the owner of the property. When two parties have a schedule for the same time, this could cause conflict when they bring others or there is only enough room for one party. Some timeshare properties have enough rooms that multiple individuals could remain in the building without need for extra room. However, these problems may become an issue when they are not willing to share the place at the same time. Other legal concerns revolve around a cancellation of the timeshare or when there are overlapping state laws that affect the area. The multijurisdictional complications occur when the owner lives in another state than the property and has a legal issue.
Other Legal Issues with Timeshares
For those that seek to transfer their rights to another person, they may discover there are legal problems that exist with this action. Others try to give the timeshare interest to another party. However, when dealing with the other owners, the possibility may not exist to give away or sell the interest without consulting other owners or the original contract of sale. Many timeshares have an agreement of final sale that cannot be changed. Others have a window of time that permits the return of funds where cancellation is available. However, this document may bind the party to the stipulations permanently.
Resolving Timeshare Issues
Most timeshare issues require thorough analysis of a contract to determine if there is any way to resolve the current problem. Some terms specify what action is necessary in the event of nonpayment, cancellation or similar needed conclusions to the timeshare. Some conditions of the contract may have out clauses based on the destruction of the property or contamination of the land. Foreclosure of the building may result in a singularly difficult remedy. Some of these concerns may lead to the hiring of a lawyer and the case presided over by a judge. Legal professionals may need to help recover losses and costs from breaches in the contract or when the timeshare concludes with serious negative impact.
Legal Issues Conclusion
After the contract has been thoroughly examined, it could end in disaster for one party or another. The need for compensation in these situations is high in certain circumstances. Then, the party that feels wronged may need to seek a lawyer that understands real estate and contracts. Discussing legal remedies and a conclusion to these legal issues is important. Hiring a lawyer is usually the next step. Then, both the client and legal representative may look more in depth into the entire event and determine what is necessary to remedy the situation. If compensation is important, then the possibility of fighting or negotiating for it increases with legal help.