Division of Florida Condominiums, Timeshares, and Mobile Homes
Frequently Asked Questions - Reselling Your Florida Timeshare Week
1. I want to sell my timeshare week that I own at a resort located in Florida. Does Florida law apply to the manner in which I sell it?
Yes. Florida law requires that sellers use a resale purchase agreement that complies with the requirements of section 721.065, Florida Statutes. That section requires that resale agreements contain certain disclosures to the buyer concerning the current amount of annual assessments, property taxes, delinquent assessments, and late charges (if any), the first year in which the purchaser may use the timeshare, as well as a 10-day contract cancellation period. Failure to include the required language in the resale contract automatically makes the contract voidable at the option of the purchaser for a period of one year after the date of closing.
Cite: Section 721.065, Florida Statutes
2. I have been contacted by several companies that promise they can sell my timeshare week for me. What does the law provide regarding these companies?
Florida law was amended, effective July 1, 2012, to address the reselling of Florida timeshares. Companies that provide these services are called Resale Service Providers and are classified as either Resale Brokers or Resale Advertisers. The law provides a certain level of consumer protection. Most important of which is how and under what circumstances a Resale Service Provider can collect money from a prospective timeshare reseller. The one thing to remember before entering into any contractual agreement is that reselling a timeshare can be a difficult prospect. If an offer or promise sounds too good to be true, it probably is.
If you have additional questions, please contact us at 1.850.488.1122 or email us at http://www.myfloridalicense.com/contactus/.
Cite: Section 721.205, Florida Statutes
Return to FAQ index page