Florida House Bill 1001 and you (Timeshare owners)

[TUGBrian]

http://www.flsenate.gov/Session/Bill/2012/1001

Timeshares; Revises purposes of ch. 721, F.S., relating to vacation & timeshare plans, to include provision of certain disclosure; revises definition of "resale service provider"; defines "consumer resale timeshare interest," "consumer timeshare reseller," "resale broker," "resale brokerage services," "resale advertiser," & "resale advertising service"; deletes provision requiring resale service providers to provide certain fee or cost & listing information to timeshare interest owners; specifies information resale service provider must provide to consumer timeshare reseller; prohibits certain services related to offering of resale advertising by resale advertisers; provides certain restrictions on offering of resale advertising services by resale advertisers; provides voidability of certain contracts; provides duties of resale service provider; provides that provision of resale advertising services in this state constitutes operating, conducting, engaging in, or carrying on business or business venture for purposes relating to jurisdiction of courts of this state; provides penalties.

 

[chriskre]

So what does this mean Brian?
Can you translate this for us into something that we can understand?

 

[Gophesjo]

Scammers who pursue Florida business will be subject to Florida rules and legal review. Let the investigations begin!

 

[Carolinian]

Does it provide that exchange companies have to disclose the numbers on their rentals of exchange deposits? That is one thing that desperately needs updating. When the disclosure laws were written, exchange companies used exchange deposits only for exchanges, so the disclosures reflect that. Thanks to Cendent, that is no longer the case.

 

[TUGBrian]

This bill is targeted at making upfront fee scammers and the like far easier to prosecute and shut down.

 

[Talent312]

It has nothing to do with exchange companies. It deals with PCC's a/k/a "resale service providers," as defined who will be required to obtain signed, written contracts with a 7-day rescission and other elements, disclose the ID of any asserted interested buyer, and prohibits a variety abusive practices.

Whether or not it actually cleans up the operation of these cretins, most of whom operate outside the law anyway, remains to be seen.

 

[Carolinian]

Disclosure requirements in most state laws also require disclosure as to any exchange system that is, in effect, sold with the timeshare. As long as the statutes dealing with disclosure requirements in timeshare sales are being rewritten, it is an opportune time to update exchange company disclosures that must be provided by the seller, as well.