Ohio AG warns that timeshare scams on the rise

COLUMBUS — Many Ohioans who are looking to resell vacation property timeshare agreements are running into trouble.

Within the past two years, complaints to the Ohio Attorney General's office involving timeshares have nearly doubled, with the majority coming from shareowners who are attempting to sell.

"From 2008 to 2009, the number of timeshare complaints filed with my office has nearly doubled and if current trends continue, this year's complaints will exceed the number filed in 2009," said Attorney General Richard Cordray. "We know that the tough economy has made it difficult for shareowners to resell, so they are turning to outside agencies to act as a broker. They are paying sometimes thousands of dollars in upfront fees to companies that promise to sell, but then do not."

A woman from Medina paid more than $1,100 upfront to a company based in Orlando after an agent promised to aggressively market her timeshare. After the money was paid, the woman was unable to contact the agent or anyone else at the company and her timeshare was never marketed.

Cordray reminded people not to make agreements over the phone. Insist that the company send you all the information in writing and carefully review the terms and conditions before you pay any money, he added.