Timeshare Bill Poised to Reduce Fraud in Florida

by Isaac Benmergui, Esq on February 13, 2012

The Florida State Senate will soon vote on a measure designed to reduce the state’s fraud problem with timeshare resales. The bill, known as SB 1408, has already been approved by committees in the state’s house and senate.

Attorney Isaac Benmergui explains that the new regulations, if enacted, is aimed more at the timeshare resale companies and would force them into complete disclosure of a buyer’s information, including name, address and phone number. In the past, real estate companies hoping to gain new listings would pose as timeshare resalers, when in fact, they were simply listing the properties causing the sellers to incur unexpected fees. The bill would also require companies to state fees upfront for selling and listing properties.

Florida has 25 percent of the U.S.’s timeshare properties.

The law offices of Isaac Benmergui can help you with your legal real estate needs, including contracts for timeshares; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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