With apologies to David Bowie, today I’m going to say something about changes. In particular, the ability of the developer to institute oftentimes major changes to the contract between you and them.
You may think that changes are not allowed. You’d be wrong. Well, partially wrong. You can’t make changes. They can. That’s called unilateral change. One party can and the other can not.
What changes can the developers make? Where to begin! Perhaps you purchased at a resort that was one of several properties owned by Developer X. 7 years down the road, Developer X is acquired by Developer Z. For whatever reason, you don’t like Developer Z’s business practices. Can you have your contact dissolved? No, you can not.
We’re not talking about fees here by the way, which the developer has the right to increase as they see fit. Guest Certificates which used to be $49 are now $89. The ability to split a week into a 3-night stay and a 4-night stay which used to be no cost is now $70! These are 2 small examples of why it’s imperative to ask the right questions concerning fees before purchasing. (For more questions to ask, I’ve identified 19 Questions To Ask Before Purchasing A Timeshare, available for only $18.99)
So, the developer can institute unilateral changes while you, do not have that right.
You can not decide to change how much or even when you pay. You can not wake up one morning and decide to give your timeshare interest to another person because the developer may block you from doing so. You can’t say you don’t want the timeshare any longer because you used to be able to use it towards a particular cruise but now you can’t because the developer and the cruise line parted ways. Well, technically you can say you don’t want it any more, but saying it means nothing.
None of this is meant to dissuade anyone from purchasing a timeshare. I’m just pointing out the obvious one sided nature of the contract. Yet another reason to not purchase a timeshare on a whim.
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