Last month we missed an important court case that will have far-reaching impact to the largest timeshare market in the US, the great state of Florida.
After eleven years in the court system, Circuit Judge Kevin Davey ruled that timeshare resale companies cannot collect upfront fees for listing timeshares for sale in Florida. Also, all the companies are now required to have real estate licenses in order to sell timeshares. The new rulings stemmed from a case won by the Florida Department of Business and Professional Regulation against Stroman Realty for unlicensed practice of real estate and charging upfront fees for timeshare resales.
How this will change the timeshare resale market is unclear. Companies may forgo doing business entirely in the resale market as buyers are already scarce and the possibility for those companies to make a profit with resales may become very slim with the new rules. If that happens, timeshare owners in Florida will be on their own for the most part if they decide to sell their timeshares.
For the source of this blog entry, please see the story by Liza Park.