Is a timeshare considered real property in Florida?

A timeshare estate is a parcel of real property under the laws of this state.

What are my rights as a timeshare owner?

Your timeshare contract entitles you to use of the property during a predetermined period of time. During this time, you’re generally entitled to quiet enjoyment of the property without excessive intrusions. Your timeshare company generally can’t bring potential buyers to view the property without advanced notice.

Who regulates timeshares in Florida?

Additionally, you may contact the Department of Business and Professional Regulation, Division of Florida Land Sales, Condominiums and Mobile Homes, Bureau of Timeshares online at www.myfloridalicense.com/dbpr/lsc/timeshare.html or by phone at (850) 488-1122.

How many days do you have to cancel a timeshare in Florida?

10 days
Florida has a “cooling off” period of 10 days from the date you receive the signed purchase documents, during which you can cancel the contract and have your money refunded. Beyond this, you may still be able to terminate the agreement, based on misrepresentations made or undue pressure put on you in the sales process.

Is a timeshare considered personal property?

Deeded timeshares are considered real estate not personal property. You own property rights to a deeded timeshare until you sell it, until the time frame on the contract expires, or until you pass away. You must pay maintenance fees, insurance, and property taxes on your timeshare as part of the contract.

Is a timeshare considered an investment property?

A timeshare is not an investment, it’s a vacation. It’s also an illiquid asset that is likely to lose value over time. Ultimately, timeshares are like swimming pools, if you buy one, do so because you love the idea of owning it, not because you expect to make a profit.

Can I sue a timeshare?

Getting Sued in Civil Court For right-to-use timeshares, your timeshare management company starts calling and sending demands for payment when you are late. The same goes for deeded timeshares if you fail to pay the maintenance fees. Alternatively, the company may sue you in civil court to obtain a judgment.

How do you forfeit a timeshare?

Give it back: Contact the developer or resort management. Tell them you want to quit-deed the property back to them. In other words, you are willing to give away your timeshare in exchange for the future savings of not having to pay your membership.

How can I get out of my timeshare in Florida?

If you buy a Florida timeshare, you can cancel the timeshare contract up until midnight of the 10th calendar day following the date you signed the contract or the day on which you received the last of all required documents, whichever occurs later. Under Florida law, this right of cancellation can’t be waived.