Canceling a Timeshare Contract in Alabama
Wondering how to cancel a timeshare in Alabama? Canceling a timeshare in Alabama is possible due to Alabama laws specifically created to protect timeshare buyers.
Still, purchasing a timeshare in Alabama shouldn’t be undertaken without careful consideration. Alabama timeshare law does offer a few protective measures to timeshare buyers but if you don’t act in the alloted time frame, you may miss out.
For example, Alabama timeshare law stipulates that timeshare salespeople must provide some disclosures and provides cancellation rights to buyers if they act within the time period detailed below. However, you are not protected against foreclosure if you don’t pay your agreed-upon timeshare mortgage or maintenance fees.
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Alabama Timeshare Contract Requirements
Alabama timeshare contracts are required by law to contain, among other things, all of the following:
- the date the timeshare contract is signed by buyers and sellers
- the address and the name of the timeshare seller
- the real timeshare purchase price (including any extra charges)
- an announcement that no buyer ought to depend upon any representations of the timeshare other than those included in the written timeshare contract
- information regarding the timeshare buyer’s contract cancellation rights
All of the above is in accordance to Ala. Code § 34-27-53, § 34-27-59.
Timeshare Buyers’ Rights to Cancel a Timeshare Purchase in Alabama
As a buyer of a timeshare in Alabama, you have the legal right to cancel the contract inside five days of signing. On the off chance that the 5th day is a Sunday, the cancellation deadline date extends to Monday as the 5th day (see Ala. Code § 34-27-53).
How to Cancel an Alabama Timeshare Contract
To cancel an Alabama timeshare contract, the buyer must send written notice to the timeshare seller in using certified mail and return receipt requested (Ala. Code § 34-27-53). It’s an infringement of Alabama law for the timeshare seller to neglect to honor a written request to cancel a timeshare contract if it has been properly submitted (Ala. Code § 34-27-54).
Alabama Timeshare Payment Refunds
In the event that you cancel an Alabama timeshare contract prior to receipt of benefits of the contract as originally agreed upon, the timeshare developer is obligated to refund your payment within 20 days of the receipt of the written cancellation.
In the event that the timeshare buyer did receive benefits as per the agreement, the developer must refund the payment inside 30 days, less the value of the benefits received (Ala. Code § 34-27-55).
Alabama Timeshare Public Offering Statement
Alabama timeshare law requires that a public offering statement is provided to the timeshare buyer. This document contains detailed data about the entire timeshare project and imperative factors timeshare buyers need to take into consideration when purchasing a timeshare. (Ala. Code § 34-27-51).
Alabama Timeshare Buyer Protections – Promotional Methods
Timeshare sales people are infamous for luring individuals to sit in on presentations by promising them prizes, gifts or get-aways. Alabama law disallows the utilization of such promotional items and methods without completely revealing:
all of the following details:
- The truth that the promotional items are being offered to sell timeshares
- Fair market value of each prize offered
- The estimated chances of actually being awarded each prize offered
See Ala. Code § 34-27-60 for details.
Deception and Fraud in Timeshare Sales is Illegal in Alabama
Alabama timeshare law does not allow timeshare sales people to do any of the following (in addition to other things):
- Misrepresent the time period that the timeshare and associated facilities will be accessible to any buyer
- Misrepresent or misleadingly represent the physical location, area, nature, degree, qualities, services attributes, or administrations connected with the lodging and offices
- Make any deceptive or tricky remarks or misrepresentations with respect to what is in the contract or the timeshare purchaser’s legal rights, benefits, or privileges under the agreement)
- Neglecting to respect and follow all provisions of the timeshare contract
- Distorting the conditions by which a timeshare buyer can exchange benefits or usage of accommodations in one location for usage of accommodations at an alternative location
- Misrepresent the purchaser’s entitlement to cancel the timeshare contract
- Adding terms to the contract that mention any waiving of rights or benefits that are established by Alabama timeshare law including the right to cancel the timeshare contract.
- Any other maneuvers or sales methods that are fraudulent, misleading or obscuring of material facts of the timeshare deal. (Ala. Code § 34-27-60, §)
Alabama Real Estate Licensure Requirements for Timeshare Sellers
Those who sell or perform brokering services for the sale of timeshares must have real estate licenses in the state of Alabama.
Alabama Timeshare Forclosure Laws
Timeshare owners who bought their deeded timeshare with a loan and fail to keep up with the payments or neglect to pay assessments will most likely face Alabama timeshare forclosure, as with any other deeded real estate property.
Past your 5 days? Need to know how to cancel a timeshare contract in Alabama?
If you are past your 5 days and still wish to take the steps on how to cancel a timeshare contract in Alabama, please give us a call at 1-888-743-9051 for a Free Consultation.
Redemption and Release, LLC can make canceling a timeshare contract in Alabama easy and cost-effective. Use our Online Contact Form to request free, no-obligation information about canceling a timeshare contract in Alabama. Take the steps to become timeshare free today!