Wyndham Hails New Florida Timeshare Resale Act

Wyndham Vacation Ownership (WVO) applauded the enactment of the Timeshare Resale Accountability Act as Florida Governor Rick Scott signed it into law this past Friday, June 22. The new bill is designed to tackle fraud by timeshare resale companies. 

Franz Hanning, President and CEO of Wyndham Vacation Ownership, said: "We remain committed to protecting our owners and the integrity of our industry at large. This new law will help to ensure deceptive companies can no longer take advantage of timeshare owners. 

"I commend Florida Attorney General Pam Bondi and Gov. Rick Scott, along with bill sponsors Sen. Andy Gardiner (R-Orlando) and Rep. Eric Eisnaugle (R-Orlando), for aggressively pursuing action against the fraudulent and deceptive practices that have become commonplace among many timeshare resale companies." 

The Timeshare Resale Accountability Act was enacted to protect Florida consumers, and help put an end to deceptive marketing practices conducted by fraudulent timeshare resale companies that have been targeting consumers under the guise of offering a service to help sell their timeshare product. 

The new Act requires full and fair disclosure of the terms and conditions of services being offered, a reasonable rescission period for consumers to cancel a contract and penalties for those individuals and companies that engage in misleading and fraudulent practices. The bill will become effective July 1, 2012. 

If you are considering selling your timeshare, take a look at the Full Service Timeshare Resales option offered by RedWeek.
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