What is the primary purpose of requiring disclosure requirements for timeshare sales?

The primary purpose of requiring disclosure requirements for timeshare sales is to inform buyers about the terms and conditions associated with the purchase. This includes providing important information about the rights and obligations of the buyer, the structure of ownership, fee schedules, and any restrictions or conditions that may apply to the timeshare usage. Transparency in these aspects helps potential buyers make informed decisions, ensuring they understand what they are committing to when entering into a timeshare agreement.

By mandating clear disclosures, the regulation aims to protect consumers from misleading practices, enabling them to consider all factors before making a significant financial commitment. This contributes to a fair and ethical market environment, where buyers can trust that they have all the necessary information to assess the value and implications of their purchase.