What consumer protections exist regarding the sale of timeshares?
In Hawaii, the state has enacted certain consumer protections regarding the sale of timeshares. These protections exist to help protect the consumer from deceptive and unfair practices. In Hawaii, it is illegal for a timeshare seller to misrepresent the timeshare’s value, including giving inaccurate information about whether the timeshare has any potential to appreciate in value. The timeshare seller must also give a full disclosure of all terms and conditions that will be included in the purchase agreement. In addition, timeshare sellers must provide a prospective purchaser with a three-day rescission period. During this three-day period, the purchaser is allowed to cancel the purchase without penalty and can then receive a full refund of all money paid. Finally, the timeshare seller must provide written acknowledgments of all promises made to the purchaser during the sales presentation. This serves to ensure that the consumer is fully aware of the promises made to them by the timeshare seller and that the purchaser has thorough documentation of their purchase agreement. By adhering to these consumer protections, Hawaii hopes to protect its consumers from unfair and deceptive practices when it comes to the sale of timeshares.
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