Am I Stuck with my Timeshare “Investment”?

The predatory tactics that time share-sales-teams utilize are well known.  Nevada has even enacted a Time Share Act codified at Chapter 119A of the Nevada Revised Statutes.  Chapter 119A provides time share purchasers with many protective rights.  For instance, if the sales team does not disclose and go over the Public Offering Statement (“POS”) with the purchaser before the purchaser signs a contract, the contract is voidable.  Even when the sales team does disclose and go over the POS with a purchaser, the purchaser, no matter the reason, always has the right to cancel the agreement until midnight of the fifth calendar day following the date of execution.

Chapter 119A also makes numerous specific acts unlawful in connection with time share transactions.  Specifically, it is considered an “unfair method of competition,” “deceptive” or an “unfair act” to engage in any one of the following acts in offering to sell a time share:

  • misrepresenting or failing to disclose any material fact concerning a time share;
  • including in an agreement for the purchase of a time share provisions purporting to waive rights provided by Chapter 119A;
  • receiving from a prospective purchaser any money or other valuable consideration before the purchaser has received a statement of public offering;
  • misrepresenting the amount of time or period of time the unit will be available to a purchaser;
  • misrepresenting the location or locations of the unit;
  • misrepresenting the size, nature, extent, qualities or characteristics of the unit;
  • misrepresenting the nature or extent of any services incident to the unit;
  • misrepresenting the conditions under which a purchaser may exchange occupancy rights to a unit in one location for occupancy rights to a unit in another location;
  • failing to disclose initially that any promised entertainment, food or other inducements are being offered to solicit the sale of a time share;
  • conducting or participating in, without prior approval by the Division, any type of lottery or contest, or offering prizes or gifts to induce or encourage a person to visit a project, attend a meeting at which a time share will be discussed, attend a presentation or purchase a time share;
  • failing to disclose initially to a prospective purchaser any agreement between the project broker or sales agent and the developer that results in a sharing of sales proceeds in excess of a minimum sales price for a time share; and
  • any other act or practice considered an unfair method of competition, unfair or a deceptive act or practice under various other Chapters of the Nevada Revised Statutes.

Significantly, Chapter 119A provides victims of time share fraud with a private right of action against the developer and its agents as well as a mechanism to rescind your contract and recover your attorney’s fees.  However, if you are a victim of time share fraud you need to act fast.  Chapter 119A only provides you one year to file suit from the date of execution or the date you discovered the misconduct.  In addition to Chapter 119A, a victim of time share fraud or other misconduct also has a number of other remedies available, including claims under Nevada’s Civil RICO statutes, claims under Nevada’s Deceptive Trade Practices Act as well as numerous other common law theories of relief.   Most importantly, rescission or termination of the time share agreement, is always available.  The Las Vegas Time Share Lawyers here at The Hayes Law Firm are ready to fight for your rights.  We will represent you on a contingency fee basis which means we do not charge you unless we secure you a money judgment or settlement.  The Las Vegas Time Share Lawyers here at The Hayes Law Firm also offer free and confidential consultations to ensure that you have met and spent time with us before you entrust us with your case.  Call us today for a free and confidential consultation – (702) 656-0808.

By |2019-03-15T03:52:35+00:00March 15th, 2019|Timeshare Investment|0 Comments

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