Tennessee timeshare law falls under the Time-Share Act of 1981 , the statute is in Tennessee’s property law title. Much of the statute is dedicated to consumer protection laws in the form of advertising and resale restrictions. Generally making it harder for a seller, or reseller to get money out of owners without violating at least some laws.
It has become a common practice to scam timeshare owners in alleged resale. Timeshares have a virtually non-existent resale value, so resellers will contact owners about having a buyer lined up, or just require you to pay the listing fees in advance of the actual sale. Then they vanish without a trace and your money is gone. Tennessee has gotten wise to this type of scam along with some other states. In its statute it is illegal to require an advance fee to be paid for a timeshare resale and the contract must be in writing and tell the user that there are no guarantees for timeshare resale. Probably because they are nearly impossible to actually resell.
Rescission Period: 10-15 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