Gilbert, AZ asked in Contracts for Arizona

Q: Can closing fees be recovered if contracts are cancelled within the seven day period? I paid with a new credit card.

Would associated plan conversion documents be rescinded as well? I traded previous timeshare ownerships to purchase the new one. I signed the contract and decided to cancel it on the same date.

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1 Lawyer Answer
Michael Hales
Michael Hales
Answered

A: Yes, all fees must be returned to the purchaser. The association, however, is permitted at times to retain the value of any promotional items given to you at the sales presentation.

And if I understand your second question correctly, then yes, the new purchase contract would be rescinded as well. But having an attorney review your contract and rescission letter might be useful to ensure that everything was in order.

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