If you own a timeshare in the state of Alaska that you need to cancel, then we are here for you. Our experienced group of specialists focuses on linking timeshare owners with reputable timeshare exit solution providers across the country to help timeshare owners cancel their timeshares.
Alaska Timeshare Laws
The state of Alaska’s timeshare laws can be found in the Alaska Statutes at Sec. 34.08.550. Public offerings are governed by Sec. 34.08.520, and timeshare cancellation laws are found at Sec. 34.08.580. The laws that you will find within these sections not only inform you of your rights as a timeshare buyer; they are also designed to protect consumers like you from the unethical sales tactics of timeshare sellers that unfortunately happen all too often.
In the state of Alaska, the law states that if a condominium or other shared development allows an option for timeshare ownership, it must include a “public offering statement.” A public offering statement contains general information about the timeshare development, and should contain:
- Any recorded conditions or restrictions that affect the community
- The development rules and bylaws
- The total number of possible timeshares in the development
- Any restrictions on the ability to sell or otherwise transfer your ownership interest in the timeshare
- Any special upfront or closing fees
- A statement which informs you about your right to cancel the contract under Alaska law
Note: In the state of Alaska you have fifteen days to rescind a timeshare purchase contract. (Alaska Statutes at Sec 34.08.580). This is much longer than other states, which shows that Alaska timeshare law is on the side of the consumer rather than the timeshare developers. If you have any questions relating to timeshare law, then you should seek the advice of an experienced attorney. Give us a call at 833-416-8796 or submit a contact form to be connected with a reputable timeshare exit company that works with attorneys.
Frequently Asked Questions from Alaska Timeshare Owners
1. Are there laws in Alaska that protect consumers like me from misrepresentation and high-pressure sales tactics that often occur during timeshare sales?
Answer: Yes, Alaska law prohibits timeshare sellers from misrepresenting a number of things, including the location, size, characteristics, or services associated with a timeshare. Timeshare sellers are also prohibited from misrepresenting the buyer’s right to cancel along with any other rights and privileges provided by law. An Alaska seller’s liabilities for misrepresentation in public offering statements are found at Alaska Statutes at Sec. 34.08.520.
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 is possible that the ownership of a timeshare can just revert to the timeshare company if you stop paying your maintenance fees, most timeshare agreements allow timeshare companies to come after you in court which would likely result in a money judgement against you. This can damage your credit and can result in garnishment.
3. Will my heirs be responsible for my timeshare when I die?
Answer: Yes, as an heir you most likely will be fully responsible for any timeshare that is inherited. Under Alaska law, however, you may able to renounce ownership of the timeshare by filing a “disclaimer.” It is best to speak to an experienced and qualified attorney to find out if you are eligible to file a disclaimer.
4. Are there any laws pending in the Alaska legislature that can help timeshare owners in the future?
Answer: No, not at this time.
Our team of professionals is standing by to help you start the process of getting rid of your Alaska timeshare. In Alaska, 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. 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.
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.