Timeshare cancellation is a legal option for timeshare owners who are no longer interested in using their vacation property. Whether you have lost a job, are struggling to pay the monthly fees, or have been impacted by personal or financial hardships, it is possible to get out of your timeshare contract.
If you are considering a timeshare purchase, it is important to know your rights and what the terms of your agreement require you to do in order to cancel it. Most states have laws requiring that buyers have the right to cancel their contracts within certain periods of time.
You can find out the specifics of this right by reading your purchase contract and speaking with an attorney. You can also consult an online resource about your state’s laws on timeshare sales.
Write a letter to the timeshare company to cancel your contract
The most important step in timeshare cancellation is writing a letter to the timeshare company. You should include all the information that is on your contract, including your name and contact information, the timeshare’s description, your address, and a statement that you are canceling the timeshare.
Be sure to write your letter in a clear and concise manner. If you use too many words, the company might not receive your letter. In addition to this, it is always a good idea to include the date and time when you will be mailing your letter.
Confirm delivery of your letter before the deadline
The resort that owns your timeshare may be very strict with rescission periods, so it is a good idea to make sure that your cancellation letter arrives before the deadline. Sending your letter via certified mail will help to ensure that it gets delivered on time.
Ask your timeshare company for a copy of their policy regarding the delivery of your cancellation notice. You can then keep a copy of this document in case you ever have to use it as proof of your cancellation.
Consult a lawyer or consumer protection agency to learn more about your state’s laws on timeshare contracts and how to deliver a timeshare cancellation letter. It is a good idea to have your lawyer review the details of your contract before you send it, as it will help you avoid any potential problems in the future.
A timeshare cancellation is usually voluntary, but there are times when it can be involuntary. These situations include a work change, a health issue, or difficulty with maintaining equity payments.
If you are a member of the military, you may be eligible for a service-related hardship exemption that allows you to cancel your timeshare without paying any penalties. You should check with the attorney general of your state to determine your eligibility for this exemption.
Getting out of your timeshare is an uphill battle, and it can take a lot of time to complete the process successfully. However, you can save yourself the trouble of trying to do it alone by hiring a timeshare cancellation company that is experienced and knowledgeable in dealing with these types of situations. Choosing the wrong company can make this already difficult process even more complicated and expensive, so it is a good idea to do some research before you hire someone. You can also read online reviews to find the best company to work with.