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rescission process

rdgdmd

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just like most newbies, i purchased a timeshare from bluegreen vacations before learning of this website. i am in the process of rescinding. i purchased 4/4/14 and according to Wisconsin statutes, i have 5 business days to cancel but in the papers they provided, 2 pages mentioned that i can cancel in 5 calendar days and another page stating 5 business days. I wish a have more time to browse thru all the stickys and threads regarding this and learn, but the bottom part is i really want to rescind. Questions are:
1. which one really stands? the 5 business or 5 calendar days?
2. reading from other forums, they say not to send to sales dept but my contract says that it should be sent to: attn: corporate sales accounting dept. I am afraid not to send it there as i have to follow it to a T. should i mail extra copies elsewhere?
3. If i use certified mail with receipt and they refuse to accept the mail? what happens?

thanks for responses in advance
 

presley

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1.) It won't matter if you send it today. You'll be within 5 days in either case. Send it today.
2.) Send it to exactly who they say you need to send it to. Follow the directions in the contract.
3.) That is the correct way to send it. They will not refuse it. If they did, you'd have proof that they didn't follow their contract.
 

Passepartout

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You are wise to rescind until you know more about what you are buying. Does it really matter whether the rescission period is 5 business days, or 5 calendar days? You are within either one.

Send the letter to the address they say to send it to. That will be different than where you bought the TS. It doesn't matter whether they accept the certified letter or not. (they will. It ain't their first rodeo) The only thing that matters is the date of the postmark showing that you sent it within the allowable time frame.

Welcome to TUG. Stick around. Learn. Ask questions. Shop TSs if you want to. We suggest a minimum of 6 months study before you buy (feel free to rent a few TSs)- though that advice is usually ignored.

Jim
 

rdgdmd

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Welcome to TUG. Stick around. Learn. Ask questions. Shop TSs if you want to. We suggest a minimum of 6 months study before you buy (feel free to rent a few TSs)- though that advice is usually ignored.

Jim

yes. i always do diligent research before i indulge on everything but during the presentation, it felt like a gun at pointblank, either you sign or die(exaggeration). i've many friends that own TSs and very happy with them but the stingy person that i am, and thru this forum, it is nice to learn that i can be just as happy with a lot less money to fork out. I did a lot of research and i'd like to ask if i overdid my rescission letter. it went like this:


Wife
husband
xxxxxxxxxx.com
(xxx) xxxxxxx
xxxxxx xxxxxx ave.
xxxxxxxxxxx

Revocation Letter: Bluegreen Vacations Unlimited, Inc.
Contract Reference Number: xxxxxx
Date Purchased: April 4, 2014

We hereby rescind our contract or agreement for sale to purchase timeshare Contract Reference Number xxxxxx with Bluegreen Vacations Unlimited, Inc.

Resort Name: (resort name), (resort address)
Time-share unit(s)and periods(s): xxxxxx, xxxxxx

Pursuant to the requirements and according to the Wisconsin Statutes, Chapter 707.47 and as mentioned in our contract:
"You may cancel this contract without any penalty or obligation within 5 business days from the date you sign this contract or until 5 business days after you receive the approved public offering statement, whichever is later. If you decide to cancel, you must notify the developer, in writing, of your intent to cancel. Your notice of cancellation shall be effective upon the date sent and shall be sent to: Bluegreen Vacations Unlimited, Inc., Attn: Corporate Sales Accounting dept., 4960 Conference Way N ste 100, Boca Raton FL 33431-3311".
We are exercising our legal right to cancel this contract. Due to this cancellation, we expect that the US$xxxxx.00 that we placed on the timeshare using the mastercard we opened through you be credited back immediately upon your receipt of this letter. To ensure that this credit occurs smoothly, we will closely monitor the refund process as stated on the Wisconsin Statutes 707.47(6)(a) that "cancellation shall be without penalty and that all payments made by the purchaser before cancellation shall be refunded within 20 days after receipt of the notice of cancellation or within 5 days after receipt of funds from the purchaser's cleared check, whichever is later". We will be instructing the credit card company to immediately reverse any charge from your company when and if it appears on our account.

Per instructions, we will also be sending back the Conventional Owner's kit and the CD-ROM in the same tote bag on a separate cover.

Thank you for your cooperation and assistance with this matter.


Sincerly,


what do you think. I plan to send it today in about 2 hrs during my lunch break. thanks again
 

JPD

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When your letter carrier attempts to deliver your letter, they normally have a central person who signs all accountable mail. If they refuse anything, your letter carrier will annotate "refused" on the letter with the date, that bar code is also scanned "refused". If this is the case, just go to usps.com and put in your tracking number and it will give you all the info you need to print out for your records.
 

Passepartout

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Looks fine. Maybe all the code stuff is overkill- they already know all that stuff- but since you have it in there, you may as well leave it. Both of you need to sign the letter.

Sometimes it takes outfits close to the allowable 45 days to credit you back, but they won't risk running afoul the law. You will get your money back.

Several TUGgers are BG owners, and iirc there is a Yahoo group of owners. They are nice resorts especially for those in the midwest.

You'll feel better after you visit the post office, and sleep better tonite. You did good.

Jim
 

carl2591

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at least in florida they get 10 days.. 5 days is short for sure.. I remember in the 80's it was 3 days in SC.. :whoopie:
 

Passepartout

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55plus

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From a Wisconsinite to another...

From one Wisconsinite to another, RESIND NOW! don't wait. Take the letter to the post office and get a tracking receipt. Don't wait, do it now....

When you are ready, buy on the secondary market such as on TUG, eBay, to name a few. You'll save tens of thousands of dollars...

- Jim
 

theo

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at least in florida they get 10 days.. 5 days is short for sure.. I remember in the 80's it was 3 days in SC.

A (5) day rescission period is not at all uncommon. A (3) day rescission period is firmly in place even today in numerous states. The states in which the rescission period is only (3) days are Connecticut, Indiana, Massachusetts, Ohio and Vermont. In most states it's 5 or 7 days; only in Florida and a very few other states is the rescission period any longer than that.

For the OP: In Wisconsin the rescission period is 5 business days; any different info in your contract paperwork is incorrect. Btw, congrats on rescinding in time. :clap:
 
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rdgdmd

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I just mailed the letter now and I already feel relieved. Now the wait begins. I couldn't have done it without you guys and this forum. I will update regularly as to help others as you did for me.
 

theo

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Not so...

Be happy you don't live in Alaska, Kansas, Wyoming or D.C. There it's zero!

Au contraire ---Alaska's is actually the longest rescission period to be found anywhere in the entire U.S. at 15 days.
 

rdgdmd

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3 days for Massachusetts huh? My resort is in Massachusetts, bluegreen is in florida, we closed in wisconsin. At least I'm covered by the amount of time I mailed my rescission if they were to argue with any of those states.
 

Cheryl20772

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2. reading from other forums, they say not to send to sales dept but my contract says that it should be sent to: attn: corporate sales accounting dept. I am afraid not to send it there as i have to follow it to a T. should i mail extra copies elsewhere?
3. If i use certified mail with receipt and they refuse to accept the mail? what happens?

thanks for responses in advance

Just go ahead and use the address in your contract. You don't have to worry about them rejecting it at all. If you send it certified mail with return receipt, that is your legal proof that you mailed the letter. If it comes back to you don't open it. Just hold it and then you would call them to see why they didn't claim the letter. Maybe you made a mistake on the address or something, but you already would have legal proof (that would hold up in court) to prove that you sent the rescind letter. The important thing is the postage date on the receipt and letter and not when they actually received it. There might also be a phone number to fax the letter and it's good to go ahead and fax it as well, but you want that receipt from the post office for the letter for proof in case of any problems. I've never read about anyone having troubles with this.
 

theo

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3 days for Massachusetts huh? My resort is in Massachusetts, bluegreen is in florida, we closed in wisconsin. At least I'm covered by the amount of time I mailed my rescission if they were to argue with any of those states.

The state whose rescission laws apply and prevail is the state in which you physically executed the contract. The operational base (i.e., corporate headquarters) of the developer matters not one bit and the underlying "resort basis for your points" (I'm assuming that this was a BG points-based contract) also matters not one bit.

In short, you're good. Once again, well done and congratulations. No developer (...not even slimy Westgate) dares to defy the law on this matter; your effective cancellation is now a foregone conclusion. BlueGreen, unlike Westgate, is (historically, anyhow) pretty good about properly and timely submitted contract cancellations. That being said, it could still take several weeks before you actually see the refund of your deposit which, by the way, may be the only communication or confirmation you receive acknowledging your cancellation. The law requires the developer to process your timely and properly submitted rescission and issue you a full refund, but there is no legal obligation for them to otherwise separately communicate with you just to "confirm" or "verify" the cancellation (...although they may well choose to voluntarily do so).
 
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rdgdmd

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Theo, it's nice to know that bluegreen has a reputation with rescissions. That's what I wanted to hear.
 

MNMIDWEST

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I too just bought Bluegreen on Friday, 6000 points biennially at a presentation in Wisconsin Dells. We have decided to redirect the funds to other traveling plans than the time shard Bluegreen offers. I have my letter ready for mail tomorrow but the problem I have now is where to send the owners kit and tablet. My guy says send it to the Boca Raton address as well but there is no real clear instructions for this. Does anyone else have an idea?

Does anyone know if I keep all the paper documents i.e. beneficiary agreements or send those back too?

we have been reading up on timeshares and it sounds like we can get a better deal looking for people that want out of their contract rather than starting in new. It is an intriguing idea but we feel we are too young to be locked in.
 

Passepartout

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Welcome to TUG. We're glad you found us in time to rescind. Absent other instructions, I'd add to my letter, 'Promotional materials to be returned under separate cover'. Then I'd send them back to where you got them.

Many of us- about half by a recent poll- bought our first TS retail from a developer. Almost nobody bought their second one that way. Does that tell you anything?

I agree that learning about timesharing is wise before you buy. After you get your down payment back from your recent purchase/rescission, consider coming back here, doing some reading to learn about the various products, then perhaps renting a few times to get the feel of vacationing in a full condo with kitchen, bedroom(s), washer/dryer, and resort activities. Compare that to a hotel room with a bed, bath and TV.

Best wishes!

Jim
 

TUGBrian

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grats on finding us in time to save a fortune!

Welcome to the family!
 

dsakholli

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We just purchased a BG package in Branson, Missouri. We live about 4 hours away but we have decided to rescind. However, my question is this: is it best to rescind in person, can this even be done at our purchase place, or must it be in writing to the Boca Rotan location? We went in this morning to drop off the materials, cancel, etc but were convinced to think about it another day. I don't know why....grr!!!!

Our cancellation instructions say to send a letter to Bluegreen Vacations Unlimited and if sending by mail, to send certified mail.

The letters are ready to go, thought I would send 2 separate letters via certified mail, call me paranoid! However, there is nothing mentioned about sending our promotional materials back? It's not that I want them but just assumed they would or should go back to the purchasing location in Branson? Or, is it best overall, to just drive back and handle everything in person, get our refund, etc?

Thanks for all the great information. We love the program and will be doing our research on the resale side of the fence! Not to mention, researching other vacation clubs.
 

DeniseM

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Don't go back to the resort - you know what happened the first time.

Even if you do, they will not give you back your money - they are not authorized to process rescissions.

Rescind in writing, following the instructions exactly - mail using a trackable method.

Don't go back, don't call them, don't answer their calls - don't.... ;)
 

puppymommo

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I have rescinded with BG before and I still have their big binder of resorts. :eek: I do think they can charge you if you don't return the promotional materials, but it is best to mail them. You already know what will happen if you try to return them in person, they will try to convince you not to rescind!

Good luck on the decision to rescind! Even if you end up getting charged for the materials, you have just saved thousands!
 

theo

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I have rescinded with BG before and I still have their big binder of resorts. :eek: I do think they can charge you if you don't return the promotional materials, but it is best to mail them.

You're lucky.
Some developers charge up to $250 when owner materials are not returned by a rescinding buyer. A developer absolutely can charge for materials provided but not subsequently returned upon rescission, but $250 is clearly outrageous; even slimy Westgate only charges $50 for failure to return such materials upon rescission.
 

dsakholli

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I will most likely send the materials back. However, the cost is minuscule compared to the savings. In addition, it may be worth it to have the materials for the sole purpose of even researching our next purchase. Or, as a reminder of what NOT to ever do again! Now I can start doing my homework and due diligence the correct way.
 
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