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The Timeshare Transparency Act establishes federal requirements for timeshare sales agreements to improve consumer transparency. Timeshare companies must provide a single document itemizing all acquisition and maintenance costs, specify which fees may be altered and the notice procedures for changes, detail options for ending ownership, and include a 14-day penalty-free cancellation period. Consumers must also be given an unsupervised opportunity to review all agreement documents before signing. The Federal Trade Commission is authorized to enforce these requirements as unfair or deceptive practices under the FTC Act, and states may impose stricter protections.
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