Getting out of a timeshare agreement is not easy. Almost 10 million American households own some form of timeshare. It can be difficult to figure out how to get out of a timeshare, especially if you haven’t taken the time to read your contract carefully.
The good news is that a majority of timeshare buyers have a legal right to cancel their contracts. The procedure varies depending on your state, the type of contract you signed and the local laws of the jurisdiction in which you reside.
In general, you can cancel your contract within a certain period of time. The length of time will depend on the state where you bought your timeshare. Some states give you the opportunity to rescind your timeshare within three days after signing it.
You may have decided that you don’t want to own a timeshare and you are not interested in taking the annual maintenance fees. If this is the case, you have the option of donating your timeshare to a charity.
Another way to get out of a timeshare is to contact the developer and ask them to take it back. Alternatively, you can get out of a timeshare by canceling it at the resort.
The official state law on the timeshare-cancellation-exit route is quite complex. You can learn more about the timeshare-cancellation-exit process by consulting with a timeshare lawyer. These experts are able to determine if you are eligible for a refund and help you negotiate a cancellation with your timeshare provider.