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Timeshare Transfer Contract

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rockygryphon

Junior Member
What is the name of your state (only U.S. law)? California

A company told my parents that they would transfer and assume ownership of their timeshare for a fee of several thousand dollars. They then signed a contract with credit card information provided on it, initially charging a small part of the total fee. This was before we found we could sell or donate the timeshare without having to pay such a high rip-off fee. Even though the contract says they were able to consult for advice, they were not.

Do my parents have some time period to cancel the contract? Would they forfeit part or all of their total fee if they cancel? The contract leaves my parents open to hundreds if not thousands of dollars more in charges and an indefinite time (supposedly several months) for the so-called "transfer" process (SCAM!). It has been about ten days since they signed.

Is there some kind of national or statewide "buyer's remorse" law that protects consumers from such transactions or companies that prey on the elderly like vultures?
 



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