How Do I Cancel a Timeshare Contract

How Do I Cancel a Timeshare Contract?

Did you buy a Timeshare recently but want to opt out because you believe it is not worth it? If you answered yes, congratulations. This article will guide you on how to go about it. Many buyers like you also realized that it is not worth it, especially the fees and taxes that come with it.

We create this guide to provide you with steps to take when you cancel a Timeshare contract. However, do that within the cancellation period, which is also known as the rescission period. Otherwise, you will sell it or walk away.

 

Why Cancelling a Timeshare Contract?

Buying a Timeshare contract shows you are getting an interest in a real estate piece. The common reason for Timeshare cancellation is the hidden charges that were not stated clearly while signing the contract.

We know Timeshare sellers not to be straightforward with potential buyers. Most potential buyers realized that there are additional charges to pay for while owning a Timeshare. Examples of those obligations are utilities, taxes, and assessments. Owners find this outrageous when totaling the amount, and they change their minds. The major reason for canceling a Timeshare is the financial cost.

 

Steps Involved in Cancelling Your Timeshare Contract

Different state laws are surrounding the Timeshare contract. It differs for each state. However, there is a rescission period, a period in which you can opt to cancel your Timeshare contract. This period may hold for weeks or beyond. It depends on the parties involved.

If you think you no longer need the Timeshare contract or you think it is wrong to sign up for, we at Timeshare Cancellation Attorney have compiled the steps to take in canceling your contract.

 

 

1. Decide while in the rescission period.

As mentioned above, we know the rescission period as the cancellation period. It is the period during which you can opt to cancel your Timeshare contract with no lawsuit against you. Your Timeshare contract will contain the number of days or weeks wherein you can decide to cancel your contract. If it does not, contact Timeshare Cancellation Attorney to know about the state’s law about that.

Although some contract options may allow you to cancel the contract through word of mouth, it is wise not to depend on an ordinary conversation. Notify your seller about your cancellation. Your contract will contain what to include.

 

2. Write a cancellation letter.

The best form of canceling your Timeshare contract is by writing to your seller. Although some sellers may not require that you send a letter or a document, we recommend sending a Timeshare cancellation letter. That will protect you from lots of headaches.

 

What should I include in a Timeshare cancellation letter?

Below is the information that it required you to include in your Timeshare cancellation letter.

  • The present/current date.
  • Your name is written in the contract.
  • Your address, phone number, and email address.
  • The name of the Timeshare association or company.
  • The description of the Timeshare. You can get this from the paperwork they issued you.
  • The purchase date of the Timeshare.
  • A clear statement that you are cancelling the Timeshare contract. Here, you do not need to write a very long statement. You can write a single sentence like, “I am writing you within the cancellation period to cancel my Timeshare contract.”

Note that you rarely need to mention the reason behind your cancellation. That single statement is enough to convey your intent. However, you must make your intent clear in the letter. Let your seller know you are sending the letter for cancellation.

Then, make copies of the letter and other supporting documents, place them in a postmarked envelope, and send them before the due time of the final rescission day.

 

3. Deliver the cancellation letter

State law often structures the delivery method, or the Timeshare contract can contain the delivery process. Some companies may allow you to walk into their office and drop the letter; others will only collect it through registered mail.

However, make sure you follow every instruction and deliver the letter during the rescission period. Otherwise, your cancellation notice may not be considered a valid one.

 

FAQs About Cancelling Timeshare Contract

Can you cancel a Timeshare contract after the cancellation period?

There is no direct answer to this because each state has its law for this. Some states may allow you to cancel your Timeshare after the cancellation period, under certain circumstances. Meanwhile, you may be advised to sell your Timeshare to a new buyer instead of getting a refund. However, be careful because this may lead to a resale fraud.

Although this may cause suing the Timeshare company, it is best when you contact an attorney for options. Book an appointment with Timeshare Cancellation Company to know options in Florida.

 

What happens if I stop paying for your Timeshare?

The Timeshare Company will do everything within her capacity to collect or get her money. They will put phone calls through and send letters if required. And if you are not yielding, they will hand it over to a collections company. If you refused to pay after that, it might lead to foreclosure, and they may take some legal actions against you.

 

Can I walk away from a Timeshare contract?

No, you cannot walk away from a Timeshare as you wish. That is because you signed some papers to pay management fees while picking up the contract. These are obligations you must adhere to as you own a Timeshare. However, you can consult Timeshare Cancellation Attorney to know how you can cancel a Timeshare contract in Florida.

 

How do I find a Timeshare attorney in Florida?

If you are looking for the best Timeshare attorney in Florida, reach out to Timeshare Cancellation’s attorney. We are a click away. All you have to do is to CALL US, EMAIL, or BOOK AN APPOINTMENT with us. We are always on the other end.

 

Conclusion

Often, Timeshare buyers find it difficult to cancel their contracts because of the stringent contract terms drawn by the buyers. It is permissible to cancel your contract, but you need to do it within the rescission period. Otherwise, you can sell to a new buyer. However, make sure you have legal backing like Timeshare Attorney Cancellation to protect you from burns.

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