So be sure that before you pack your bags you establish that the timeshare is, in fact, on file in New York. In any event, no matter what terminology is used, the offer is subject to the same rules and regulations. Sometimes the developer avoids using the term "timeshare" altogether, substituting "interval ownership" or "vacation club ownership" for the word "timeshare." All advertisements to New Yorkers must clearly and conspicuously use the term "timesharing" to describe the product offered for sale by the sponsor.
Moreover, the seller must also offer buyers an opportunity to cancel their purchase for a period of seven business days after they have signed a contract of sale. Sponsors wishing to market timeshares in New York are required to fully disclose the terms, conditions and facts of the transaction to all prospective purchasers. The fact that an offering plan has been filed in New York gives you extra protection.
New york city time shares free#
Any offer of a free or low cost tour which includes a timeshare presentation must state that the complete offering terms are in a New York offering plan available from the sponsor. How can you sift through the offers and figure out who's scamming you and who's not?Ī timeshare is defined as any arrangement for sharing ownership of a vacation home, condominium or other interest in realty where each of the joint purchasers may occupy the unit during a specified period each year.Īny timeshare offer mailed to your home in New York is subject to New York law. Of course, not every prize winner turns out to be a loser, and there are reputable sellers of timeshare products that offer their clients all that they promise.
New york city time shares how to#
The New York State Attorney General would like to offer you some advice and show you how to protect yourself when you are contemplating buying a timeshare. Unfortunately, all that glitters is not gold and all that's promised is not delivered Often the free trip turns out to be a grueling trek from timeshare to timeshare, punctuated by endless sales talks, and topped off by a whopping bill for hidden costs and unforeseen charges. We all know it's hard to resist the lure of a dream come true for little or no apparent expense. Many New Yorkers have recently gone to their mailboxes and were thrilled to receive the happy news that as part of a promotional effort to sell timeshares, they were the lucky winners of a free trip to a tropical paradise.
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