Timeshare Transparency Act

This bill aims to enhance transparency in timeshare sales by establishing new requirements for timeshare companies. It mandates that all timeshare agreements must incorporate a single document detailing itemized costs for acquisition and maintenance, including ongoing fees. Agreements must also specify any fees that can be altered by the company, along with the notice period for such changes, and clearly outline all available options for ending timeshare ownership.

Furthermore, the bill requires a provision allowing individuals to terminate the agreement without penalty within a 14-day period from the date of signing. Before entering into any agreement, consumers must be given an opportunity to review all associated documents independently, free from the supervision of a timeshare company employee. The Federal Trade Commission (FTC) is tasked with enforcing these provisions, treating violations as unfair or deceptive acts, and states retain the authority to implement even stronger consumer protections.