Land Investments and Time-sharing Abuses: Hearing Before the Select Committee on Aging, House of Representatives, Ninety-seventh Congress, Second Session, June 16, 1982
U.S. Government Printing Office, 1982 - Condominiums - 109 pages
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
able addition agencies agreements American Association attorney awarded building buyers called Chairman claims Club Colorado Commission committee complaints concerning condominium consumer contract cost course deal Department developer escrow exchange facilities fact Federal fraud future give Hawaii hearing individual industry interest interval investment involved kind land land sales legislation license located look lots ment million never offering operating owners ownership paid payments period person Postal practices presentation pressure prize problems programs promoters protect purchase real estate received regulate representative resort salesman scheme securities sell Service share sold staff statement tell Thank thing Thompson timeshare tion told Trade unit vacation victims week York
Page 79 - During the past seven years, vacation timesharing has been one of the fastest growing industries in the United States.
Page 81 - ... consider the risks as well as the benefits before signing a contract or check. There are two main types of timesharing plans: deeded and non-deeded. With the deeded type, you buy an ownership interest in a piece of real estate. In the non-deeded plan, you buy a lease, license, or club membership which lets you use the property for a specific amount of time each year for a stated number of years. With both types, the cost is proportional to the length of time per year you want to buy. As with...
Page 32 - Without objection, your statement will appear in full in the record. Mr.
Page 78 - DIRECTOR, BUREAU OP CONSUMER PROTECTION, FEDERAL TRADE COMMISSION Mr. Chairman and members of the...
Page 43 - Thank you, Mr. Chairman, for inviting me to appear today before this distinguished committee.
Page 82 - ... Review all documents or have an attorney familiar with timesharing review them before you make a purchase. Find out if the contract provides a "cooling-off" period during which you can cancel the contract and get a refund.
Page 32 - ... if you would let us put your statement in full in the record and then summarize the material in your statement or whatever you care to say.
Page 11 - ... entitlement early in their careers and the number of days for which payment is made are variables that have primary impact on cost savings. Although somewhat imprecise, we estimate the first year's cost savings at $75.9 million. The second year's cost savings are estimated at $100.1 million. Before closing, I would like to bring to your attention the fact that the House Appropriations Committee added a general provision to the Defense appropriations bill which would limit entitlement to payment...