The state of Arizona has proposed legislation in response to perceived unfair and deceptive timeshare sales practices that have allegedly left many families financially devastated. Thirteen (13) Arizona representatives have proposed the creation of Arizona HB 2639 in an effort to safeguard consumers from entering into a perpetual timeshare contract. The legislators say buyers often enter into timeshare contracts when on vacation and are encouraged to review documents after they return home from vacation, sometimes long after any rescission period has ended. Arizona House Bill 2639, aimed at alleviating the concerns of timeshare buyers, was approved by a committee in a 7-0 vote, but is strongly opposed by the timeshare lobby group American Resort Development Association (ARDA). Provisions in the proposed bill offer safeguards for timeshare buyers and include a 14-day rescission period; an opportunity to cancel the purchase agreement and relinquish all the timeshare interest within one year after the purchaser signs the agreement; and at least ten years after a purchaser purchases a timeshare, a purchaser who has paid the entire purchase price and current annual fees may terminate the purchase agreement without cause. A request can be denied only if it does not meet the criteria described. The bill also requires disclosure to alert the purchaser that the contract may be of a perpetual nature.
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