Friday, July 4, 2014
While you might think that your time share embodies all desired features of a vacation home, the best thing you can do is to call a lawyer to help protect you from the innumerable “time share resale” scams abound.
In Ontario, the Consumer Protection Act (CPA) attempts to provide protection for consumers engaged in time share transactions. The CPA gives the Ontario consumer a ten-day cooling off period after entering into a time share agreement to cancel the agreement, as well as additional cancellation rights if the consumer did not receive a compliant copy of the agreement conforming to the regulations.
The CPA has “remote agreement” provisions that you might consider falling back on. A “remote agreement” is a consumer agreement entered into when the consumer and supplier are not present together. For these agreements, the CPA mandates specific pre-contract disclosure and prescribes certain content that must be included in the remote agreement. It also gives the consumer multiple cancellation rights for failure to comply with these requirements.
If a transaction is a scam, the seller’s lawyer should be able to ascertain this by undertaking certain steps which will result in legal expense for the seller. The next time you receive an unsolicited phone call or email to sell your time share for double what you paid for it, think carefully before signing on with your new agent.
See James Shanks, The Trouble With Time Shares, Mondaq, July 2, 2014.