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Timeshare Bill of Rights
(The Timeshare Freedom and Transparency Act)
I propose protective legislation for timeshare customers now and in the future.
1.Timeshare points should not be equated with real estate, because they have little or no commercial value.
2.Maintenance or membership fees should be for use only with a recommended 10-year lease. If more than 10 year lease
is desired then the member should be given a maintenance fee insurance policy against lost of a job, severe sickness, and
death.
3.The price of timeshare and its resell value can't be guaranteed by any insurance policy.(e.g. Like mortgage insurance
on a recently bought house.) This should be made know to potential buyers and existing members.
4.Timeshare companies should recognize that a customer has free will and human rights and he/she can decide to be a member
or not of a timeshare club. The exit option should be on any bill as well as punishments for not paying their membership dues
on time.
5.Anything related to maintenance, special assessment, membership, and exit fees must be explained and understood.
6.All exit options must be made known to potential customers and existing members.
7. Timeshare members and potential customers should be informed that all timeshares go down in price. Some more than others.
8."Ownership meetings" should be replaced by membership/leaser meetings to reflect the true nature of timeshare.
9.Complaints concerning timeshare should be handled by an ombudsman of Ontario/Canada/U.S. State.
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