# Jockey Club Presentation Written and Verbal Offer



## Tamaradarann (Oct 21, 2016)

I posted this issue before, however, I don't believe that the product that was offered at the Jockey Club Timeshare Presentation was sufficiently vetted by this group.  I titled it more specifically to focus attention on what I feel is the prime issue that should be revealed.  

The timeshare presentation at the Jockey Club is the most unusual one we ever attended. They were not selling a traditional timeshare week or points.  One would be getting 5000 Sapphire points annually as well as Sapphire RCI membership for unlimited extra vacations and last calls. Going through the Sapphire Reservation Office the 5000 Sapphire points would let one book 1 week in any size unit anywhere in the world.  However, the 5000 Sapphire points could only be used in the LAST 30 DAYS before check-in.  Therefore, all the good availability would already be taken. This was equivalent to booking during the severe point reduction sales that RCI offers in the last 30 days. During that period one can book a resort for 7500 RCI points that at 10 months out would be  75,000 RCI points. Therefore, your ownership would be worth about 1/10th of the worth of a traditional points ownership in RCI for exchanges. This last point is presented to you in writing, although the timeshare sales people verbally deny that you MUST wait until the last 30 days, suggesting only that you may wait until the last 30 days.

I believe it is important to make members aware of this untraditional timeshare offer which the sales people try to poo poo what is in writing to mislead purchasers.


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## doughgirl (Oct 26, 2016)

*rescision law*

What is confusing is the rescission law stated on the contracts. The Nevada law states that the purchaser may cancel, by written notice, until midnight of the fifth day following the date of execution of the contract. Does the written notice have to be received within the 5 days or postmarked by the 5th day?

Edit --- received answer on another board   Law is paperwork must be postmarked within 5 days.


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## Ron98GT (Oct 27, 2016)

doughgirl said:


> What is confusing is the rescission law stated on the contracts. The Nevada law states that the purchaser may cancel, by written notice, until midnight of the fifth day following the date of execution of the contract. Does the written notice have to be received within the 5 days or postmarked by the 5th day?
> 
> Edit --- received answer on another board   Law is paperwork must be postmarked within 5 days.



http://www.leg.state.nv.us/nrs/nrs-119a.html

Specifically:

 NRS 119A.410  Right to cancel contract of sale.
      1.  The purchaser of a time share may cancel, by written notice, the contract of sale until midnight of the fifth calendar day following the date of execution of the contract. The contract of sale must include a statement of this right.
      2.  The right of cancellation may not be waived. Any attempt by the developer to obtain a waiver results in a contract which is voidable by the purchaser.
      3.  The notice of cancellation may be delivered personally to the developer, sent by certified mail, return receipt requested, or sent by express, priority or recognized overnight delivery service, with proof of service, to the business address of the developer.
      4.  The developer shall, within 20 days after receipt of the notice of cancellation, return all payments made by the purchaser.
      (Added to NRS by 1983, 982; A 1985, 1141; 1987, 894; 2003, 984; 2007, 1549; 2013, 1586)


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## Ron98GT (Oct 27, 2016)

Pickup a low price Grandview, with really low MF's.  You can get into the Jockey Club anytime, including New Years, we've done it many times.  Great for exchanging into most HGVC's also.


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