Interestingly New Jersey timeshare law is governed under their professions and occupations section. While most of the statute speaks to how to practice in a business the timeshare section is called the New Jersey Real Estate Timeshare Act and focuses mostly on property type law.
Burden on the Developer
Many timeshares are built and subsequently purchased, or rented by a major timeshare company like Hilton, or Wyndham. In New Jersey, the law is set out so that the primary burden falls on the developer of the timeshare units regardless of who does the wrong act. If the sales agent, marketing entity, or manager of the timeshare does something in violation of the statute the developer may also be on the hook for that behavior. This builds in an incentive on developers when they are building up the timeshares to make sure they know who they are handing it off to is not going to misuse it, or they could be on the hook.
Rescission Period: 7 Days
Disclaimer: These summaries of law are intended only to serve as an information source for consumers. Statutes and laws are subject to constant change and the information listed above may not represent the most recent, or complete information. This does not constitute legal advice and a lawyer should always be contacted to provide you an analysis of your case. If you would like to have your case reviewed, please call us at (360)918-8196 for a free consultation