Truthful Timeshare Cost Disclosure - need input! V2 updated

[TUGBrian]

So, one of the more interesting (and possible IMO) suggestions from the newly proposed Timeshare Transparency Act/Law is the creation of a 1 page disclosure document to be provided to a new buyer prior to signing the contract.

What all would you like to see in it! While its easy to throw everything on the wall and see what sticks, this really does need to be a single page to ensure it doesnt wind up "lost in the shuffle" if it became another lengthy wall of text or similar like the rest of the contract.

Here is an example template to get started, id be curious what you would add/remove/change if YOU were sitting at a sales presentation and given this document.

updated to v2 this afternoon (2/24/26)


Truthful Timeshare Disclosure Form

1. WHAT YOU ARE PAYING TODAY​

Description	Amount
Retail Purchase Price	$__________
Discounts Applied	$__________
Closing / Admin Fees	$__________
Total Purchase Price	$__________

Financing Terms	Amount
Down Payment	$__________
Amount Financed	$__________
Interest Rate (APR)	_______%
Loan Term	_______ Years
Monthly Loan Payment	$__________
Total of Payments (Principal + Interest)	$__________
Total Interest Paid	$__________

2. WHAT YOU WILL PAY EVERY YEAR​

Recurring Obligation	Current Amount
Annual Maintenance Fee	$__________
Club / Program Dues	$__________
Property Taxes (if separate)	$__________
Total Current Annual Cost (not including loan payments)	$__________

⚠ Important: These fees are NOT fixed and typically increase over time.

3. 5 YEAR OWNER FEE HISTORY​

Year	Total Annual Fees
20__	$__________
20__	$__________
20__	$__________
20__	$__________
20__	$__________

Average Annual Increase Over Past 5 Years: _______%

Special Assessments in Past 5 Years:
☐ None
☐ Yes – Total $__________

Explanation for Assessments:

4. OTHER POSSIBLE COSTS​

You may also pay:

• Reservation / Transaction Fees
• Exchange Company Membership (e.g., Interval International or RCI)
• Guest Certificate Fees
• Upgrade or Conversion Fees
• Transfer Fees if you sell
• Deedback / Exit Fees (if available)
• Special Assessments for repairs or renovations

5. 10-YEAR COST PROJECTION​

Category	Estimated 10-Year Total
Purchase Price	$__________
Total Interest (if financed)	$__________
10 Years of Maintenance Fees*	$__________
Taxes & Dues	$__________
Estimated 10-Year Total Cost	$__________

*Projection assumes annual fee increase of _______%.

6. IMPORTANT DISCLOSURES​

• This ownership is perpetual.
• Annual fees will continue indefinitely.
• Fees may increase due to inflation, insurance, property taxes, or board decisions.
• Special assessments may be charged at any time.
• The developer does not guarantee resale value.
• Comparable ownerships may be available on the resale market at significantly lower prices.

7. BEFORE YOU SIGN​

☐ I understand the full retail price.

☐ I understand the total financing cost and interest.

☐ I understand annual fees can increase.

☐ I understand this may be a long-term or perpetual obligation.

☐ I understand resale value is not guaranteed.

☐ I understand that NOTHING said verbally during the presentation will supersede anything written into the signed sales contract

☐ I understand that I have ____ calendar days from today to legally cancel (rescind) this contract without penalty, and I have received written instructions explaining how to do so.

 

[rickandcindy23]

I would add a clause that says the timeshare salesperson may have misrepresented the benefits of purchase. But that is just me.

How many times have people come to TUG and said, "I was told I could book a 2 bedroom any time of year with these points?"

Case in point, one person who bought 81,000 Sheraton Flexoptions and thought this was a 2 bedroom anywhere.

Wyndham sells 300,000 points for as much money as we paid developer through DVC for 1,000 points, and DVC is not being given away. I told the person to rescind because that isn't even two weeks in prime season, while my 1,000 Disney points are 3-4 2 bedrooms a year.

 

[TUGBrian]

you arent wrong, but we also have to be realistic about what the industry would actually accept as a standard form for all retail sales contracts.

one item that was suggested was a line that indicated whether or not the customer was buying MORE timeshare/points...as so many complaints of people who thought they were getting rid of their timeshare or reducing their fees discovering they actually bought more instead.

 

[linsj]

Add to Reserve Contribution line: (if separate).

This disclosure would certainly put a dent in retailer sales!

 

[TUGBrian]

yea i dont think any timeshare salesman is going to be in favor of anything we include in this document...hopefully there will be enough public pressure on the industry with this proposed bill and contents within to make it happen though!

 

[jp10558]

I would add a clause that says the timeshare salesperson may have misrepresented the benefits of purchase. But that is just me.

How many times have people come to TUG and said, "I was told I could book a 2 bedroom any time of year with these points?"

Case in point, one person who bought 81,000 Sheraton Flexoptions and thought this was a 2 bedroom anywhere.

Wyndham sells 300,000 points for as much money as we paid developer through DVC for 1,000 points, and DVC is not being given away. I told the person to rescind because that isn't even two weeks in prime season, while my 1,000 Disney points are 3-4 2 bedrooms a year.

I would perhaps word this differently - a checkbox that says something like
__ I understand that the written contract lists the benefits and use of the timeshare and supersedes any verbal representations made.

 

[TUGBrian]

oh i like that!

 

[TUGBrian]

ok, got it down to 3 pages, but formatting can likely cut that to 2.

I think the 10 year estimate is a great idea, but I also believe thatll be the first thing that developers will cut out of any official document used during a sale.

definitely not out of the question to get this to a single page.

 

[RX8]

“ Estimated 10-Year Total Cost $_______”

I think it would be a good idea to break that 10-year total cost down to a PER year average. This would give an estimate of how much that annual vacation is really costing them. People may think that the annual vacation is only $2000/year due to maintenance fees but adding the mortgage payments may make the true vacation cost closer to $5000.

 

[CO skier]

I would perhaps word this differently - a checkbox that says something like
__ I understand that the written contract lists the benefits and use of the timeshare and supersedes any verbal representations made.

Some form of merger clause such as this have been standard in timeshare contracts to protect the developer for more than 40 years. It has done little to prevent salespeople from making verbal promises and buyers from believing the promises.

Oral Promises vs. Written Contracts in Timeshares | Aaronson Law Firm

Understanding the crucial differences between verbal promises and written contracts in timeshare agreements can protect buyers from unexpected risks.

aaronsonlawgroup.com

 

[CO skier]

Here are a couple of examples for merger clauses that Wyndham used to successfully defend the Sirmon lawsuit in 2013:

"Additionally, many of the contract documents contained merger clauses stating that oral promises were unenforceable. The following merger clauses are exemplary of clauses found throughout the timeshare contracts:

This agreement supersedes any and all understandings and agreements between You and Us, and You and We mutually agree that this Agreement represents the entire Agreement between You and Us, and any representation or inducement which is not set forth in this Agreement shall be of no force and/or effect. This Agreement may only be amended or modified by an instrument in writing between the parties.(Doc. 132-7 at 50 ¶ 17.)The Contract constitutes the entire agreement between Seller and Buyer, and each represents and warrants that no representation, written or oral, has been made by either of them to the other, except as expressly set forth herein. No presentation, warranty, undertaking or promise, whether oral, implied or otherwise, has been made by Seller or by its agents, employees or brokers or salesmen, or by Buyer to anyone except as expressly set forth in a written agreement signed by both parties.

(Doc. 132-8 at 13 ¶ 13.)

The Contract constitutes the entire agreement between Seller and Buyer, and each represents and warrants that no representation, written or oral, has been made by either of them to the other, except as expressly set forth herein. No presentation, warranty, undertaking or promise, whether oral, implied or otherwise, has been made by Seller or by its agents, employees or brokers or salesmen, or by Buyer to anyone except as expressly set forth in a written agreement signed by both parties.

(Doc. 132-8 at 13 ¶ 13.)"

 

[TUGBrian]

absolutely agree that "blanket immunity" clause needs to be front and center in a contract.

 

[T_R_Oglodyte]

I would perhaps word this differently - a checkbox that says something like
__ I understand that the written contract lists the benefits and use of the timeshare and supersedes any verbal representations made.

I would give this a triple "like" if I could!!!

 

[LannyPC]

For point # 5 (10-YEAR COST PROJECTION), it's estimated. A sales person could easily fudge the numbers. After all, isn't that what these sales people do in order to trick you into thinking that you'll be saving scads and scads of money over the years owning a TS rather than renting or staying in hotels?

 

[jp10558]

Some form of merger clause such as this have been standard in timeshare contracts to protect the developer for more than 40 years. It has done little to prevent salespeople from making verbal promises and buyers from believing the promises.

Oral Promises vs. Written Contracts in Timeshares | Aaronson Law Firm

Understanding the crucial differences between verbal promises and written contracts in timeshare agreements can protect buyers from unexpected risks.

aaronsonlawgroup.com

I agree but that's in the dense legalese that we all know people don't read and aren't really equipped to read. It's kinda why we have these disclosure ideas on a simpler form as an idea. We wouldn't need this if people understood contracts or had a lawyer read them first.

More generally I think this points to how contract law has become ineffective for average consumers - I'd argue it's blatantly obvious that signing a document does NOT mean there was a meeting of the minds for instance. Of course, we don't currently have a better solution but I'm just saying the legalese needed to stand up in court is also what often makes it impossible for there to be a real meeting of the minds in practice. I'd also argue that all these "take it or leave it" contracts fail general consumers also.

 

[jp10558]

For point # 5 (10-YEAR COST PROJECTION), it's estimated.

That's an interesting idea - should the cost projection be fixed for that 10 year period? Would this actually help prevent something like the introductory rate issues? Or do you think there should be a fixed contractual increase forever?

A sales person could easily fudge the numbers.

At least this is trying to force the people to contend with the 10 year period, even if the costs are assumed to stay the same - which might be helpful IDK.

After all, isn't that what these sales people do in order to trick you into thinking that you'll be saving scads and scads of money over the years owning a TS rather than renting or staying in hotels?

This one I don't think needs fudging though - even retail purchases tend to break even after 10 years or so from most of the math I've seen. Now, whether taking 10 years to start saving money would get a lot of people on board, IDK.