Timeshare Attorney Las Vegas
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TIMESHARE ATTORNEY LAS VEGAS
Many people cannot afford or don’t want the hassle of planning a yearly luxury Las Vegas resort vacation or finding a vacation home or condo to rent in Las Vegas, NV.
Receiving that type of vacation every year without the hassle attracts people to timeshare ownership. Some people enjoy their timeshare, but many regret their timeshare purchases.
Whether you are a first-time potential timeshare buyer or current owner, initial consultation with a timeshare attorney in Las Vegas can save you time, money, and a lot of heartache.
Why Consult a Las Vegas Timeshare Attorney?
A lifetime vacation ownership plan gives you access to a resort property near a tourist destination – from Las Vegas to Disney World to the beach or ski slopes – for a specific time.
You have full use of the timeshare resort property and all its amenities during your stay. There are over 1,580 timeshare resorts in the U.S., with approximately 9.9 million U.S. households owning a timeshare.
Clearly, the idea of a timeshare is appealing to many people!
However, timeshare contracts are not always what they seem, and it is not easy to get out of a timeshare contract without the help of a lawyer. Seek legal guidance from reputable law firms with experience representing timeshare owners and an understanding of real estate law.
What Is the Price of a Timeshare?
The price of a timeshare depends on many variables, such as:
- The timeshare resort developer’s reputation
- Timeshare resort location
- The number of weeks desired at the timeshare
- The rewards point tier
- The amenities offered
- The time you’re looking to sell/purchase
According to the American Resort Development Association, the average sales price is $22,942. It is important to understand the cost of a timeshare and the ongoing maintenance fees with other associated costs prior to making a decision on whether or not to purchase one.
Benefits of Timeshare Ownership
- Fully furnished condo or townhouse
- Use all resort amenities such as a pool, beach, dining, spa, etc.
- Earning rewards each time you stay at the resort
- Most allow you to “exchange” your vacation time for vacation time at another location owned by the timeshare company for discounted fees through the timeshare provider’s “exchange provider.”
Costs of Owning a Timeshare
Maintenance fees cover property taxes, insurance, property management, landscaping, maintenance, and upgrade of rooms or condos and the common areas and grounds. According to the American Resort Development Association, annual maintenance fees can run $1,000 and increase by an average of 5% per year.
This is in addition to the regular cost of your timeshare.
Whether you are thinking about purchasing a timeshare or are stuck trying to get out of a timeshare contract, you would be wise to consult with experienced timeshare lawyers.
How to Get Rid of a Timeshare in Nevada?
Most states have “cooling-off” laws you can rely upon if you buy a timeshare and regret it. These laws let you get out of your timeshare contract, but only if you act quickly. The cooling-off period is usually three to ten days. That means you can relatively easily cancel your timeshare contract within that period.
In Nevada, the cooling-off period is five calendar days after the date you signed the contract. The State of Nevada also provides consumers with other ways to protect themselves. For example, the timeshare developer must disclose specific information to you by providing a copy of their public offering statement. But, if you miss the cooling-off period and forget to cancel your timeshare contract, you may end up needing a timeshare attorney.
When to Contact a Timeshare Cancellation Attorney
Timeshares are sold via a legally binding contract. The contract spells out the benefits, costs you are responsible for, obligations, and restrictions. Timeshare buyers can get caught up in the “paradise vacation” presentations during a “discounted vacation resort stay.”
The timeshare industry is fraught with scams, so pay attention if you are hooked on going to a timeshare presentation. If you don’t, you may need the help of experienced timeshare attorneys.
How Timeshares Are Sold
Sales presentations often involve high-pressure sales tactics to sign a contract during or at the end of the presentation. As a result, many timeshare owners do not fully understand the costs, obligations, restrictions, and market for timeshares at the time of purchase.
Buyer’s remorse or other changes can cause a timeshare owner to rethink their decision and want to cancel their timeshare contract. Why not ask the timeshare company to cancel your contract and resell it on your behalf within their network? While some timeshare developers provide that option, not all do.
There Is Little Incentive for Timeshare Companies to Cancel the Contract
Timeshare contracts offer a steady income stream. Timeshare developers and management companies depend on that income stream for profits. Once you are past the two-week initial cancellation period after your timeshare purchase, most timeshare companies will charge hefty fees or offer minor assistance to cancel the contract.
Timeshare cancellation attorneys are generally well-versed in their state’s timeshare law. If you are having trouble canceling your timeshare contract, seek professional advice from a timeshare attorney in Las Vegas, NV.
Why Would You Need a Timeshare Exit Attorney?
How do you do it if you purchase a home or condo and need to turn that asset into cash? Unfortunately, you can’t list it with a realtor because you don’t own the timeshare. You purchased a partial ownership interest in the property, which is shared with all the other timeshare owners at that property.
Not Every Timeshare Contract Is the Same
Depending on the type of timeshare contract you signed, you may not have the right to sell your timeshare interest by law. There are two types of timeshare contracts:
A shared deeded timeshare interest contract divides the property ownership between all people that own the timeshare. This contract permits a sale, gift, or transfer of your timeshare ownership to another person or purchaser.
A right-to-use timeshare contract divides the use of the house or condo between you and all people that pay to use it for a specific number of years. This type of contract generally does not permit you to sell your user rights to a purchaser.
Timeshare exit law firms provide many legal services, including reviewing your contract, explaining the type of timeshare contract you have, and providing legal assistance to clients to pursue exit options. Most offer a free consultation.
You May Need the Services of a Get-Out-of-Timeshare Attorney
Most people that desire a timeshare cancellation or sale do so because:
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They want to get out from under continuously increasing fees.
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They want to be rid of the payment obligation due to mounting debts.
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They don’t want their heirs to be liable for their timeshare debt when they are gone.
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They are unhappy with the quality, service, and lack of contact at the timeshare resort.
Demand for Timeshares in the Secondary Market
There is little demand for a timeshare resale, and you may have to sell for substantially less than you owe.
Resort development companies may have restrictive covenants within the timeshare contract that prevent resale buyers from receiving all the benefits of owners who purchase directly from the timeshare company.
Given there may be very little resale value, it seems difficult to escape from the burden of an expensive timeshare. How can you get out of the contract and free up your resources to spend them on more important things in your life?
An experienced lawyer at a timeshare defense law firm can thoroughly evaluate your case and work to negotiate a settlement or obtain a favorable outcome through litigation.
Timeshare Foreclosure Attorney
Many people that purchase a timeshare will finance the timeshare business. Financing a timeshare is a mortgage loan agreement to make monthly payments until the debt is repaid.
Maintenance Fees Are Legal Obligations to Timeshare Companies
Once the loan is repaid, you still have a legal obligation to pay maintenance fees and other related costs. Non-payment of the loan or maintenance fees can result in the company’s legal action and foreclosing on your timeshare.
Suppose you can no longer afford to pay and face foreclosure on a timeshare. In that case, a timeshare attorney in Las Vegas that understands Nevada timeshare law can protect your legal rights and help you explore options to come to some settlement agreement with the timeshare business to stop the collection of phone calls and foreclosure proceedings.
What Is the Average Cost Of a Timeshare attorney in Nevada?
Many potential timeshare purchasers and current timeshare owners do not seek legal advice from an attorney because they fear high upfront fees or a pushy attorney trying to force them into litigation.
The good news is that an attorney will generally offer a free consultation where they can discuss your timeshare matter and seek to develop an excellent attorney-client relationship.
The Fees a Legal Firm Charges Are Based on Many Variables
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The difficulty of your case
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The length of time it will take to resolve your case
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The types of timeshare contracts you have
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The timeshare developer or company
Some lawyers charge a flat fee, and many charge a percentage fee based on the amount of money awarded by the court in a verdict. Legitimate lawyers do not charge an upfront fee. Upfront fees are often used by exit timeshare companies that could be operating a scam.
The Truth About Timeshare Attorney Fees
The truth is that there is no set fee or average cost across the board charged by timeshare lawyers. Better questions are:
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Are you embroiled in a timeshare matter you can’t resolve?
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Are you having trouble with a timeshare cancellation?
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Are you facing foreclosure for past-due payments?
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Have you run out of options to get out of your timeshare contract?
Can You Afford Not to Hire a Timeshare Attorney, Las Vegas?
If you answered yes to any of the above questions, you could not afford not to obtain the advice and service of a Nevada timeshare defense attorney.
You can spend a lot of time and money trying to go it alone to resolve a timeshare issue, cancel the contract, avoid foreclosure, and get free from the timeshare debt for which you are liable.
A more efficient and cost-effective path is often to hire a lawyer who knows how to get you out of your timeshare contract and who has successfully done this for other clients.
Timeshare Defense Attorneys is a licensed law firm in Nevada with attorneys available to discuss your timeshare matter.
Our law firm focuses on helping our clients understand their contracts and explore options to exit unwanted contracts under Nevada timeshare law. The timeshare contract language is complicated, and timeshare company officials can be difficult to contact and deal with objectively.
Our timeshare cancellation lawyers have an excellent track record of success. Don’t try to go it alone! Contact us for a free consultation, and let us help you.