The Owner Update Meeting
If a timeshare developer or sales agent uses legitimate sales practices and otherwise complies with the law, then the sales process should be relatively straightforward. Tennessee law regulates what the developer or sales agent can say about the timeshare and requires that certain disclosures be provided. These regulations, when followed, help to ensure that customers know what they are buying. However, if a timeshare developer or sales agent uses high pressure sales practices, fails to give required disclosures, and otherwise violates the law, the sales process can become a very stressful, intentionally confusing encounter that can leave the customer feeling bewildered and preyed upon. Many owners, whether they had an honest and straightforward sales pitch or a dishonest and predatory sales pitch, assume that once they have actually made a purchase, at the very least, the sales process is now behind them. Unfortunately, this is often not the case, as timeshare developers often target their existing owners for upgrades, exchanges, owner update meetings, and additional sales. In this manner, a developer or sales agent who has violated the law might end up violating it again and again, as the same customers are pressured to pay ever increasing amounts. Various legal causes of action can be implicated in an unscrupulous timeshare sale, whether an original sale or an upgrade or exchange. These causes of action include fraud, violations of the Tennessee Timeshare Act, and violations of the Tennessee Consumer Protection Act. Elderly citizens are often particularly vulnerable to sharp sales practices. Fortunately, Tennessee provides them additional protection via the Adult Protection Act.