Having a timeshare is a great way to vacation, but it can also be a financial burden. In many cases, the annual maintenance fees become an irritating expense. They tend to increase with the passing of the years. This can be especially disappointing during the holidays.
You can cancel a timeshare, although this isn’t always easy. Some timeshare developers will refuse to allow you to do so. It’s best to check with a consumer protection office to find out what your state’s laws are.
Depending on the type of contract you have, you may have to write a formal letter to rescind your purchase. Be sure to include a clear request to cancel, and be sure to follow your brand’s cancellation guidelines. The letter may include a copy of the contract. Some companies will even allow you to hand-deliver your rescission notice.
A surprisingly large number of consumers believe that selling a timeshare is a breeze. While this may be true in some cases, the timeshare market has been plagued by predatory agencies.
Taking the time to learn about your rights and options can help ensure that you get the most out of your timeshare purchase. It can also be helpful to hire a timeshare attorney to help you navigate through the process.
The “cooling-off period” is another element of your contract that you should keep in mind. This is the time that you have the right to rescind your timeshare, and it can vary widely from state to state.