Rhode Island’s timeshare law falls under chapter 34-41 the Rhode Island Real Estate Time Share Act . The act hits on all the major elements of timeshare law, creation, management, coverage, report and perhaps most importantly remedies. Timeshare law in Rhode Island closely resembles standard contracts law. Instead of timeshares being treated like real estate (as in most states) Rhode Island looks at them like contracts and gives many more contract defenses that are not always easy to get in real estate. A major portion of the Road Island timeshare statute is dedicated to spelling out what these defenses are and actions you may have to get out of your contract. If you think that you have a bad timeshare contract, or just want to get out of one reach out to our firm at 360-918-8196 for a free consultation.
Defense to Contracts
There are two big defenses to timeshares in Rhode Island that are not easily brought in other states. First is the defense of unconscionability of the contract. It basically means that the contract is just blatantly unfair to you in some way. This can be because the terms of the contract are obscene (like a crazy high interest rate), or because when you signed you were under too much pressure (think high pressure sales presentations). Second is a breach of warranty . There are certain promises that if they are implied to be a part of the timeshare or expressly said by the purchaser a person would believe them, they will be considered a part of it even if not in writing. If they then subsequently come back and say those promises are not real, or that they were never supposed to be a part of the contract you may have an action against them for a breach of warranty.
Rescission Period: 5 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