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Florida Timeshare Resale Accountability Act Inches Closer to Passage

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Florida Timeshare Resale Accountability Act Inches Closer to Passage 

February 8, 2012

Florida Timeshare Resale Accountability Act 

In January, Florida State Senator Andy Gardiner and Florida State Representative Eric Eisnaugle, with the support of Florida Attorney General Pam Bondi, introduced the Timeshare Resale Accountability Act of 2012. The motivation behind the Act was to protect Florida consumers and help put an end to deceptive marketing practices conducted by fraudulent timeshare resale companies that have been targeting consumers under the guise of offering a service to help sell their timeshare product.

Under the new law, timeshare owners would be given more information about resale companies and the ability to rescind a sales contract, helping to protect them from bad actors. The House bill was passed unanimously out of House Judiciary Committee and will make its next and final stop in the House Economic Affairs Committee. Its companion bill in the Senate will be heard in the Senate Budget Committee, also its final stop. Similar legislation has been introduced in Colorado and will begin to move through legislative process shortly.