Michigan Timeshare Laws Regarding Cancellation
If you live in the state of Michigan and are the owner of a timeshare property that you would like to cancel, then our team is standing by to help you. Our company connects timeshare property owners with reputable timeshare exit solution providers who may be able to help timeshare property owners cancel their timeshares once and for all.
Michigan Timeshare Laws
Timeshare laws for the state of Michigan are not directly named by any specific timeshare law statute. Timeshares are governed in the state of Michigan by condominium laws which can be located within the Michigan Compiled Laws starting at Chapter 559, Act 59 of the 1978 Condominium Act. The laws related to the contents of a purchase agreement can be found at Chapter 559, Act 59, Sec. 559.184, and purchase agreements are required to include:
- A statement that all funds paid by the purchaser be deposited into escrow
- A statement that all funds shall be returned to purchaser within 3 days after a withdrawal
- Purchasers right to cancellation of the contract
The following paragraph must also be included in any condominium purchase agreement:
“At the exclusive option of the purchaser, any claim which might be the subject of a civil action against the developer which involves an amount less than $2,500.00, and arises out of or relates to this purchase agreement or the unit or project to which this agreement relates, shall be settled by binding arbitration conducted by the American arbitration association. The arbitration shall be conducted in accordance with applicable law and the currently applicable rules of the American arbitration association. Judgment upon the award rendered by arbitration may be entered in a circuit court of appropriate jurisdiction.”
Rescission Period
In the state of Michigan, you have nine business days to rescind a timeshare purchase. This Michigan timeshare law can be found in the Michigan Compiled Laws at Chapter 559, Act 59, Sec. 559.184. If you have any questions about Michigan timeshare law, then you should seek the advice of an experienced timeshare attorney. We can help you find that attorney. Give us a call at 833-416-8796 or fill out a form on the right side of the page.
Frequently Asked Questions from Michigan Timeshare Owners
1. Are there laws in Michigan that protect consumers like me from misrepresentation and high-pressure sales tactics that can occur during timeshare sales?
Answer: Not specifically, Michigan timeshare law can fall under condominium sales laws which may or may not address your specific issue. While there aren’t many specific protections for timeshare buyers relating to misrepresentation, there may be other sections of the Michigan law that could help you. If you feel you have been the victim of misrepresentation or unethical sales tactics, then you should speak to an attorney who can best assess your situation.
2. What types of financial harm can I face as a timeshare owner if I simply stopped paying my timeshare maintenance fees?
Answer: Multiple types, while it might be possible that the ownership of a timeshare can just revert to the timeshare company if you stop paying your maintenance fees, Michigan timeshare companies can foreclose the timeshare in court which would likely result in a money judgement against you. Not paying fees or other money owed can damage your credit and can result in garnishment. Michigan timeshare foreclosures can operate under condominium foreclosure laws which can be found at Chapter 559, Act 59, Sec. 559.208.
3. Will my heirs be responsible for my timeshare when I die?
Answer: Yes, heirs will most likely be fully responsible for any timeshare that is inherited. Under Michigan law, however, you may able to give up ownership of a timeshare by filing a disclaimer of property. The law on disclaimers in Michigan can be found within the Michigan Compiled Laws starting at Chapter 700, Act 386, Sec. 700.2901. It is best to speak to an experienced and qualified attorney to find out if you are eligible to file for a disclaimer. We can help you find that attorney, call 833-416-8796 or fill out a form on the right side of the page.
4. Are there any laws pending in the Michigan legislature that can help timeshare owners in the future?
Answer: No, not at the current time.
About Us
Our team of professionals is standing by to help you start the process of getting rid of your Michigan timeshare. In Michigan, our team’s network of timeshare exit solution providers have helped countless timeshare owners cancel their timeshare contracts legally and permanently without harming the timeshare owner’s credit. At Timeshare Exit Companies, we lean on our past experience to help you achieve future success. We help you discover the best timeshare exit companies that can help you get rid of your timeshare once and for all.
Call us today at 833-416-8796 or contact us online so we can help connect you with a Michigan timeshare exit solution provider who may be able to help you legally cancel your timeshare.
Disclaimer: This page is for informational purposes only. Timeshare Exit Companies does not provide legal services, and none of the information provided in this article should be considered legal advice.