Doesn't the old timeshare get sold once a new one is signed? Or will there be a scenario like that. If the old one gets put back in their inventory and gets sold then there will be nothing to re-instate?
What happens is that the developer holds all of the closing documents and does not record them until the end of the rescission period. If the buyer rescinds, the documents are shredded (figuratively) and it is as if the transaction did not happen; everything remains as it was.
So I just want to be sure, the agent that sold us the upgrade said that the contract was cancelled due to the recission letter. But the old contract was cancelled as well. What happens then? They send me the same contract to sign? Or does that releive me of any timeshare from them?
The very term, "Rescission", means to set affairs back to what they were between the parties before the contract was signed. Your 'old' contract is still in force, so you have nothing to sign. For better or worse, you still own it.
The saying around here is that if a sales person's lips are moving, he's lying. Sales people will say anything to get you to sign.
