The good? The law requires timeshare resellers to disclose that “There is no guarantee that your time-share period can be sold at any particular price or within any particular period of time.” And, the timeshare resale law also requires specific disclosures about the maintenance fees that go with timeshare ownership.
The bad? The law hamstrings timeshare owners who want to sell their timeshare. As one writer put it, it locks the barn after the horses were stolen. You may have been misled when you bought your timeshare but now you must disclose all the bad news about timeshare before you can sell it. You may not have known that the maintenance fee would be over, for example, $1,000 but now you have to disclose that and more if you want to sell your timeshare. Eventually the timeshare resales playing field will be level, but for now it is not.
The timeshare resorts have a serious advantage in that the same law does not apply to them. Other laws regulate the timeshare sales industry. Accusations of timeshare sales and misrepresentation have flourished over the years. This is the time to make the timeshare sales industry completely open and transparent about what owning a timeshare means.
For millions of people owning a timeshare is a vacation pleasure. For some it is a problem that a timeshare resale company can solve the best.