Timeshare Transparency Act

This bill would make it illegal for a timeshare company to sell a timeshare unless the sales agreement lists, in a single document, all costs to buy and keep the timeshare, including ongoing fees. The agreement would also have to identify fees the company can change and how buyers will be notified, list the ways an owner can end ownership, and allow the buyer to cancel without penalty within 14 days. Buyers would have to be given a chance to review all agreement documents before signing, without a company employee supervising. The Federal Trade Commission would enforce these rules, which would apply to agreements made starting 90 days after the law takes effect, and states could keep or adopt stronger protections.

Full text and official record on Congress.gov

Sponsors

• Glenn Thompson Republican sponsor
• 10 cosponsors