Florida HB 435 seeks to limit if not eliminate a timeshare owner’s ability to exit their timeshare safely and permanently. As the timeshare capital of the world, restrictive legislation in this state has far reaching implications to timeshare owners all over the country.
The bill attempts to:
- Restrict consumers’ rights to attorneys
- Criminalize attorneys’ right the practice of law;
- Criminal penalties/ $15,000 enforcement
- Require written contract disclosures that misrepresent material facts;
- Foreclosure and credit impact
- Impose mandated oral disclosures every time an attorney or agent speaks with his or her principal;
- Must read disclosures for warning of non-payment, rejection of services, and non-association with developer/ government.
- Essentially legislate law firms and other entities out of business; and
- Escrow/ trust money, recording, disclaimers, reliance on developers to cooperate.
- Leave consumers with little to no assistance when they are unable to use or afford paying for perpetual timeshare interests.
- This bill would limit or eliminate consumers’ options.
The Bill also has far-reaching application, and would apply to out of state consumers, attorneys, and entities that have no connection to Florida.