Timeshare Industry Pressure Deflates Arizona Consumer Protection Bill
A bill aimed at helping Arizonans walk away from predatory lifelong timeshare contracts may have lost its teeth.
State lawmakers stripped away language from the bill allowing sellers to apply a year-long cancellation fee.
Gone, also, is a provision allowing the buyer to cancel a contract within 14 days after actually having the chance to stay on the property.
"That's not reasonable, because a lot of times people buy timeshares that aren't even completed yet," said Rep. Travis Grantham from Gilbert. "Some people have paid for timeshares three years before they were built because they want to get in while the getting's good."
The Attorney General's Office blamed the lawmakers' decision to limit the cooling off period to 10 days on heavy pressure from the timeshare industry.
Lawmakers also removed the consumer protection language requiring buyers to have a copy of the contract 24 hours before they're required to sign it.
One provision, however, is still intact: timeshare companies will not be allowed to force buyers into lifetime contracts in the future.