Rescind before first timeshare User Year

[vasselle]

My parents bought into VSN Staroptions in April 2019 (Myrtle Beach) on the promise of getting a cruise vacation next year for themselves, my sister and family, and me and family (12 people) using their points and the Interval International site. This was for a 50th Anniversary celebration and it was the only reason why they even entertained a purchase. They already own other timeshares (weeks) so they really didn't need it for resort or hotel stays. They said they were told by the salesperson that all of this would be possible with their 44,000 Staroptions points (Even years only), but what I read on the II site is that's not the case. The II site said that a minimum of 60k points are needed to book (and I suspect many 100's of thousands for 12 people).

They are very disappointed that what they were told is not what they will get. Further, they had no idea that VSN was going on the cheap for this number of points on the resale market.

They only received their contract documents 1 week ago, even though they signed back in April. I assume at this point all fees have been paid, as this is what the VSN Owners people told me.

Does anyone know of a way to rescind at this point or are they stuck with keeping it as-is or reselling? Has anyone successfully argued misrepresentation this far out?

Thanks in advance for any assistance.

 

[controller1]

My parents bought into VSN Staroptions in April 2019 (Myrtle Beach) on the promise of getting a cruise vacation next year for themselves, my sister and family, and me and family (12 people) using their points and the Interval International site. This was for a 50th Anniversary celebration and it was the only reason why they even entertained a purchase. They already own other timeshares (weeks) so they really didn't need it for resort or hotel stays. They said they were told by the salesperson that all of this would be possible with their 44,000 Staroptions points (Even years only), but what I read on the II site is that's not the case. The II site said that a minimum of 60k points are needed to book (and I suspect many 100's of thousands for 12 people).

They are very disappointed that what they were told is not what they will get. Further, they had no idea that VSN was going on the cheap for this number of points on the resale market.

They only received their contract documents 1 week ago, even though they signed back in April. I assume at this point all fees have been paid, as this is what the VSN Owners people told me.

Does anyone know of a way to rescind at this point or are they stuck with keeping it as-is or reselling? Has anyone successfully argued misrepresentation this far out?

Thanks in advance for any assistance.

Sorry, but they are stuck.

The fine print in the contract they signed states that oral representations are not valid and that the signed contract is the entirety of the transaction (paraphrased). The rescission period ended months ago.

You didn't state how much your parents paid but I assume the amount was a "too good to be true" assuming 12 people would be on a cruise.

 

[RX8]

My parents bought into VSN Staroptions in April 2019 (Myrtle Beach) on the promise of getting a cruise vacation next year for themselves, my sister and family, and me and family (12 people) using their points and the Interval International site. This was for a 50th Anniversary celebration and it was the only reason why they even entertained a purchase. They already own other timeshares (weeks) so they really didn't need it for resort or hotel stays. They said they were told by the salesperson that all of this would be possible with their 44,000 Staroptions points (Even years only), but what I read on the II site is that's not the case. The II site said that a minimum of 60k points are needed to book (and I suspect many 100's of thousands for 12 people).

They are very disappointed that what they were told is not what they will get. Further, they had no idea that VSN was going on the cheap for this number of points on the resale market.

They only received their contract documents 1 week ago, even though they signed back in April. I assume at this point all fees have been paid, as this is what the VSN Owners people told me.

Does anyone know of a way to rescind at this point or are they stuck with keeping it as-is or reselling? Has anyone successfully argued misrepresentation this far out?

Thanks in advance for any assistance.

They only received their contract documents last week for a purchase in April? That would be odd. That said, does the contract state the rescission period starts upon receipt of all contract documents? If so, send a rescission ASAP and see what happens.

 

[controller1]

They only received their contract documents last week for a purchase in April? That would be odd. That said, does the contract state the rescission period starts upon receipt of all contract documents? If so, send a rescission ASAP and see what happens.

I'm pretty sure what they just received was either 1) the recorded deed from the state or 2) the mortgage documents if they financed.

When you purchase from the developer, you walk out of the office with all the contract documents including the recession notice.

 

[Passepartout]

Unfortunately, they are stuck. There will be no way to rescind at this late date. OK, now the better news. The ONLY really good value on a cruise using timeshare points is to book several cabins. Truth told, you lose big booking one cabin because what you get for your timeshare maintenance fee is a discount from published full cruise fare, not like an exchange. But the same discount applies on multiple cabins, so that's how they might get some value. I'm sorry they fell for the sales weasel's lies, but if it's any comfort, they aren't the only ones.

We'd have loved to explain it back when they purchased. Sorry.

Jim

 

[jackball]

Are you sure it is 44,000 StarOptions every other year? This is a very small amount. Once we were pitched an every other year purchase, but in reality it was 44,000 annually which could be banked/borrowed to create an every other year vacation. Sorry they were misled but if they have 44,000 annually you may actually be able to make something out of it.

 

[EnglishmanAbroad]

Just goes to show how convincing the sales people can be if they already own timeshares and are familiar with the 'murky' world of timeshare sales and still fell for it. Not a criticism by the way, I almost fall for it every time I go for a Vistana Owners Update until I give myself a severe verbal and physical thrashing and manage to walk out unscathed.

 

[OldGuy]

They only received their contract documents last week for a purchase in April? That would be odd. That said, does the contract state the rescission period starts upon receipt of all contract documents? If so, send a rescission ASAP and see what happens.

That was exactly my first thought since most of the up-front cancellation laws state purchase date or date contract documents are received.

Somewhat related to the topic title, this year Arizona almost enacted legislation that would allow timeshare contracts to be cancelled any time before it's first use. It was really close to happening, but ARDA and some other industry interests lobbied really hard.

But, it goes to demonstrate that some legislators understand the shortcomings of not really knowing what you bought in the first 7 or 10 days. or 30 years