ABA Family Legal Guide

Contracts and Consumer Law

Special Consumer Protections

Time-Shares

If I don't like the time-share deal, though, can't I just sell it?

In theory, yes. Practically speaking, though, many people who bought time-shares in the 1980s or 1990s—when any investment involving real estate looked like a winner—are finding themselves with white elephants on their hands. You may have to unload the time-share for much less than you paid, if you can find a buyer at all. You may be stuck making an agreement with the sponsors that they will take back the time-share during the payment period and let you off the hook for the rest of the term. You would get nothing back for what you've already paid in (which might be several times what you would have paid in rent), but you would have no further obligations.