Timeshare Resale Fraud - The Laws on Resale Service Providers

Florida Statutes 721.05(44) defines “Resale Service Providers” if the telemarketing company is offering resale brokerage or advertising services.

Florida Statutes 721.20 (9)(a) provides disclosure requirements for Resale Service Providers. The written disclosure to consumers must contains a "description of fees/costs" relating to advertising, listing, or sale of a timeshare interest, as well as the ratio of the number of listings for sale versus the number of timeshare interests sold by the resale service provider ("a success ratio") for each of the past 2 calendar years in writing before providing any services.

Florida Statutes 721.20 (9)(b) provides that failing to disclose this information to consumers renders the contracts void and entitles consumers to full refunds of monies paid to the resale service provider.

The Laws on Telemarketing

Florida Statutes 501.613 provides that within the first 30 seconds of a telephone call, a commercial telephone seller or salesperson must identify herself or himself by stating her or his true name, the company name, and the goods or services being sold.

In addition, if a sale or an agreement to purchase is completed, the commercial telephone seller must inform the purchaser of her or his cancellation rights as provided in this part, state the license number issued by the department for both the commercial telephone seller and the salesperson, and give the street address of the commercial telephone seller.

Since the majority of these transactions are initiated by the timeshare companies through telemarketers, here are some things you should know:

Please see the below statute for more information on the requirements in telemarketing contracts, how to cancel the contract and how to obtain a refund.

Florida Statutes 501.615 Written contract; cancellation; refund

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