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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Consumer Protection Law
Satisfied Customers: 18112
Experience:  B.A.; M.B.A.; J.D.
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I signed papers to buy a timeshare 3/16/16 there is a clause

Customer Question

I signed papers to buy a timeshare 3/16/16 there is a clause that says I have 5 business days afther the day following the next business day after execution of the purchase agreement to change my mind. While signing documents the salesman circled the clause and said we had to initial above it. He indicated verbally that we had to initial to rescind the right to those 5 days. I said I didn't agree with that and I thought he could not do that. He made us initial it, but there is nothing there that says specifically that we do not have that right. We just initialed above the clause that said we had 5 days. Can he allow us to "initial" that right away? When I initialed it, I truly did not believe he could do that and in my mind I initialed it acknowledging the clause as a good one, not that I agreed to waive the right; though that was not his intent for my initials. These documents were signed in Mexico. I live in Alaska.
It is now my intent to exercise that clause and cancel the purchase agreement.
Submitted: 11 months ago.
Category: Consumer Protection Law
Expert:  Phillips Esq. replied 11 months ago.

You cannot sign away your rights to rescind the contract. That would be against public policy. You can go ahead and send your notice to rescind and if your notice is rejected because of the alleged waiver, then you need to make it clear that you did not sign for any waiver and that you sign to acknowledge the 5-day rescission right. In any event, any waiver of your rights to cancel the contract is against public policy and is unenforceable.

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