OCR Text |
Show It's just not likely Beware of winning prizes through mail The mail arrives. Among the bills and junk mail, is an official looking envelope with large letters on the front. "Winner-gram!" "Winner-gram!" "Final Notice of Prize Award!" What's this? Did I finally win one of those contests I entered? Did my lottery ticket come up a winner? Not likely. It's probably an invitation to a sales presentation for either a timeshare, R. V. campground membership, or similar simi-lar recreational offering. A lot of energy and money is spent every year luring potential buyers to the sales offices of timeshare developers. Prospective purchasers are offered luggage, lug-gage, overnight lodging, barbecues, stocks, mini-tvs, etc. Sometimes there is a "Sweepstakes" type offering where several sever-al possible items ar offered, including VCR's, a luxury cruise, color tv, cash, or even a car. . Those who decide to claim their "prize" learn they must attend a sales presentation. It may include a professionally produced video, often narrated by well-known actors, showing the "good life" available through timesharing. Prospective purchasers pur-chasers are subjected to varying degrees of pressure to purchase. purch-ase. They are sometimes made to feel like a "freeloader" for asking for the gift without purchasing. Many people sign a contract as a result of the high-pressure sales techniques and then go home and ask each other, "why?" As a result of the incidents of high-pressure, misrepresentation, misrepresenta-tion, and abuses of consumers by a segment of the timeshare industry, Utah enacted timeshare regulation in 1983, and recently re-cently created a new law known as the "Timeshare and Camp Resort Act." This law requires all developers of timeshare and camp resort memberships to register their offering with the Utah Division of Real Estate. The registration includes disclosure disclo-sure of items important to consumers such as: who owns the property, any restrictions on its use, maintenance and use fees, proposed advertising material, and personal information about the developers). Property Report. The developer must give the prospective purchase a property report which contains summary information informa-tion about the offering and is intended to help the consumer ask questions he or she might not know or think to ask. Each purchaser is required to sign a receipt for the report, and the developer must retain the receipt to prove it was received. Rescision Rights. The law provides additional protection to the consumer by granting the right to cancel the purchase within five days of the sale. The purchaser must send a "certified letter, return receipt requested," to the developer canceling the sale. Any down payment must be returned to the purchaser. The Division has the statutory authority to suspend sales or fine a developer for violations of the Timeshare and Camp Resort Act. Under certain circumstances, the developer and salespeople can be prosecuted criminally. Timesharing is a legitimate way to provide vacation and recreational re-creational opportunities. There are many successful resorts and satisfied consumers around the world. As with any purchase, you should ask questions until you're well informed, get all claims in writing and determine whether the initial and annual costs are in line with your projected use of the facility. Above all, if a salesperson pressures you to sign, and you're not sure, tell him, "If the answer has to be now, the answer has to be no!" For further information about the Timeshare and Camp Resort Re-sort Act, contact the Utah Division of Real Estate, 160 E. 300 , South, P.O. Box 45802, Salt Lake City, Utah 84145-0801, or call (801)530-6747. |