Division of Florida Condominiums, Timeshares, and Mobile Homes
Frequently Asked Questions - Timeshare Owner Related Issues
1. As an owner, am I entitled to access to the financial records of the timeshare plan?
Yes. Florida law provides that the managing entity provide to you a copy of the annual budget each year, and make the annual audit available to you upon request. Additionally, as an owner you have a right to inspect the books and records of the timeshare plan at any reasonable time, under reasonable conditions, and under the supervision of the custodian of records. Your request for access should be made to the managing entity or association.
Cite: Section 721.13(3)(d), Florida Statutes
2. Is the timeshare association or managing entity required to give me a list of all owners of timeshare weeks in my resort?
No. The managing entity may not publish the owner list or provide a copy of it to any purchaser or to any third party, other than the Division, unless the purchaser whose name and address are requested first approves the disclosure in writing.
Cite: Section 721.13(3)(d)4, Florida Statutes
3. Can the timeshare managing entity deny the use of accommodations to purchasers?
Yes. The managing entity may deny use to any purchaser who is delinquent in the payment of any assessments for common expenses or ad valorem real estate taxes.
Cite: Section 721.13(6), Florida Statutes
4. What percentage of voting interests is required to make a quorum at a meeting of the members of a timeshare owners’ association?
Unless the articles of incorporation, the bylaws, or the provisions of Chapter 721, Florida Statutes, provide for a higher quorum requirement, the percentage of voting interests required to constitute a quorum at a meeting of the members of a timeshare owners’ association is 15 percent of the voting interests.
Cite: Section 721.13(7), Florida Statutes
5. My resort requires me to call in and make a reservation. How can that be when I bought a week there already?
There are different types of ownership involved in timeshare plans. You need to review your documents for the rules and regulations for using your week, and to determine what you have purchased. If you have bought a “fixed” week, chances are you have a deed for a particular week in a particular unit, and you will use the same week every year without any reservation required. If you have bought a “floating” week, you probably have to make a reservation each year, and are able to visit the resort at different times of the year.
6. I purchased my timeshare interest because I was told that I could exchange it to stay at resorts all around the world. Why can’t I get the reservations I need to do that?
If you decide to join one of the many exchange companies that make it possible for you to vacation in different locations, you need to carefully review the material that the exchange company provides to you. This material gives a description of the procedure to qualify for and effectuate exchanges, as well as a description of all limitations, restrictions, or priorities used in the operation of the exchange program (i.e., seasonality, unit size, and/or occupancy level).
Cite: Section 721.18, Florida Statutes
7. What are my cancellation rights concerning my recent timeshare plan purchase?
A purchaser has the right to cancel the timeshare contract until midnight of the 10th calendar day following whichever of the following days occurs later:
(a) The execution date; or
(b) The day on which the purchaser received the last of all documents required to be provided to him or her, including the notice required by section 721.07(2)(d)2., Florida Statutes, if applicable.
We recommend that the purchaser employ a method of delivery of the cancellation request that provides proof of the date upon which the developer received the request, such as certified mail (return receipt requested) or some other method of delivery which uses a tracking system. Upon such cancellation, the developer must refund to the purchaser the total amount of all payments made by the purchaser under the contract, reduced by the proportion of any contract benefits the purchaser has actually received under the contract prior to the effective date of the cancellation, as required by section 721.06, Florida Statutes. Such refund must be made within 20 days of demand therefore by the purchaser or within 5 days after receipt of funds from the purchaser’s cleared check, whichever is later.
Cite: Section 721.10, Florida Statutes
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