Need help rescinding

[Thirsty Senior Member Find all posts View Profile Close Thirsty]

Hello,

I purchased some points from a Bluegreen developer and after talking to a member of Tugs I realized I made a mistake not buying resale. My problem is I didn’t get any paperwork when I signed the deal on May 31st. The sale person said he would mail the papers to me. Therefore I don’t have any information on how to rescind a contract. My question is. Are there any forms I can download to rescind the contract?

Thanks,
Mike

[calgal Senior Member Find all posts View Profile Close calgal]

I think you need to mail the rescission letter certified, return receipt requested. Can you get them to fax you your paperwork and rescission instructions?

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

Hello,

I purchased some points from a Bluegreen developer and after talking to a member of Tugs I realized I made a mistake not buying resale. My problem is I didn’t get any paperwork when I signed the deal on May 31st. The sale person said he would mail the papers to me. Therefore I don’t have any information on how to rescind a contract. My question is. Are there any forms I can download to rescind the contract?

Thanks,
Mike

Congratulations on discovering resale while you still have the time to back out of your developer deal.

I don't see how you could walk out of there without copies of your documents, but be that as it may. CALL THEM IMMEDIATELY for a fax copy of the rescission document as well as the ENTIRE set of documents you signed.( or if you live near-by go there PHYSICALLY and get your documents).

Your notice of rescission is in the packet and may be why the sales guy volunteered to mail them. The rescission timeframe differs from country to country but it is not very long and you are quickly running out of time.

As far as I know there is no one boilerplate to rescind. Each is different and you must get and follow yours to the letter. Going as far as getting a priority overnight with signature required as your proof of fulfilling your part of the process.

Good Luck and keep us posted.

[marybeach Junior Member Find all posts View Profile Close marybeach]

Oh, that's cute. Not handing the paperwork out with the deal. Maybe the copier is broke? For goodness sake. In SC, there is a 5 day "right of recission", 10 days in Florida. It's bad enough when the clause is buried in the paperwork and gazed over when signing all those documents. However, if you didn't get the paperwork after the "closing", that would be the first sign of trouble to come.

[Thirsty Senior Member Find all posts View Profile Close Thirsty]

Let me explain why I didn’t get any paper work when we (my wife and 2 sons) signed the contract. We were using bonus time, at Christmas Mountain, and went to a sales pitch meeting (Sat May 27th) for a free gift, tickets to a local attraction. We left the meeting without signing any contracts. However they did offer a deal with a lot of incentives that was only good for the weekend. We slept on it and were going accept the deal. So Sun. morning we went to the sales office but sales agent has Sundays off. We left him a message that we were very interested in signing a deal. He called the next day and after some conversations he said he would drive our home town (about 70 miles) so we could sign the contract. We signed a contract, May 31st, at a Perkins restaurant and didn’t have access to a photocopier. Hence we didn’t gat any paper work.

Mike

[timeos2 Senior Member Find all posts View Profile Close timeos2]

Wow - it may be a second lucky break that you didn't sign anything in your home. The rules for an "in the home" purchase are different and may have applied even though this is a timeshare sale. It sounds like you are under the standard terms so at most you have 10 days to rescind - maybe only 7. Get busy.

[bigfrank Administrator Find all posts View Profile Close bigfrank]

If you signed the papers on May 31 and since in a few hours it is the 7th then you are most likely to late to get the recession in to them on time.

[Thirsty Senior Member Find all posts View Profile Close Thirsty]

I just read in another thread that all parties listed on the contract must sign a rescission letter.

We had our sons added to on an existing deed (purchased in 2001) of 12,000 points so they could sign into a resort without my wife or I being there. So we had them sign this contract instead of having them added later. However I didn’t have my sons sign the rescission letter (certified return receipt requested). One is out of town on a business trip and I failed to get the other one to sign it.

When I talked to the sales person to get the contract number for the rescission letter she said I probably wouldn’t have to have them sign the letter because they didn’t sign the original contract for the 12,000 point we own they were just added.

I will be busy on the phone tomorrow. Last weekend a sale person was talking to us and we were happy to be purchasing more points. Now my wallet is talking to me. How things change.

Also is the Timeshare Forums and Tugs2 BBS the same?

[bigfrank Administrator Find all posts View Profile Close bigfrank]

Also is the Timeshare Forums and Tugs2 BBS the same?

No we are 2 different sites but a lot of the members and moderators are on both sites.

Good luck.

[Thirsty Senior Member Find all posts View Profile Close Thirsty]

Is the deadline for a rescission letter based on the postmark or when the letter was received? It makes since to me that the postmark is the accepted method of determining the deadline for a rescission letter.

Mike

[bigfrank Administrator Find all posts View Profile Close bigfrank]

Is the deadline for a rescission letter based on the postmark or when the letter was received? It makes since to me that the postmark is the accepted method of determining the deadline for a rescission letter.

Mike

I believe it is the post mark. But do you not need to have the letter that came with your contract. I thought you said the salesman took all the papers in your previous post.

[Thirsty Senior Member Find all posts View Profile Close Thirsty]

I did not receive any paper work form the sales person at the time of the purchase and have not received any as of today. I have been getting my information about sending a rescission letter from here and TUGs. I used a generic rescission letter to send. It would be nice to have the instructions for sending a rescission letter.

Mike

[bigfrank Administrator Find all posts View Profile Close bigfrank]

Generic letter should work just be sure to send it certified with return receipt.
The problem is since you do not have the contract you do not know how much time you have. The recession time is in the contract.
Since you were not given a copy of it that might be a way out. I believe that for it to be binding you had to have a copy of the contract when you signed it. If you are late in canceling you could say that you were not given the contract with the recession letter.

Did you pay the deposit by check or CC? If you paid by CC you should be safe. If you paid by check put a stop payment first thing in the morning.

[rod Member Find all posts View Profile Close rod]

Wisconsin law

707.47 Purchaser's right to cancel.

707.47(1)
(1) Provision of statement. A person required to deliver a time-share disclosure statement under s. 707.41 (2) shall, before transfer of a time share and no later than the date of any contract for the purchase of a time share, provide a prospective purchaser with a copy of the time-share disclosure statement and all amendments and supplements to the statement.

707.47(2)
(2) Right to cancel. If delivery of a time-share disclosure statement is required under s. 707.41 (2), the purchaser may cancel a contract for the purchase of a time share until midnight of the 5th business day after whichever of the following is later:

707.47(2)(a)
(a) The date that the contract is executed.

707.47(2)(b)
(b) The date on which the purchaser receives the last of the documents required to be provided to the purchaser under sub. (1).

As I understand what you have said, you have not yet received any documents.

[ladydi Junior Member Find all posts View Profile Close ladydi]

need help rescinding

just wondering where is the rescinding page? I was looking thru my papers and I can't seem to find anything about rescinding? Is this something they usually leave out of all your papers?