Timeshare Cancellation – What You Need to Know

Timeshare Cancellation – What You Need to Know

timeshare cancellation

Whether you’re looking to rent out your timeshare, or just don’t want to make the monthly payments, you may want to consider a timeshare cancellation. While you have the right to cancel, it can be a complicated process. Before you begin, make sure you understand your state’s laws.

In many states, you have a “cooling-off” period after you purchase your timeshare. This period allows you to get out of the contract within a specified number of days.

You must notify the seller in writing of your intention to cancel. Once you do, you have the right to get a full refund. Depending on the state you live in, this period can be up to seven days. If you do not act quickly, you could miss your chance to get out of the contract.

Some resorts offer in-house exit programs. Others offer deed-back programs. This isn’t a popular option, but it may be your only choice if you aren’t ready to cancel your timeshare yet. If you are considering a timeshare cancellation, make sure you contact a legal professional as soon as possible.

You should also consider hiring a timeshare cancellation company. These companies can help you get out of your contract, but there are some red flags to look for. Typically, these companies charge large upfront fees. They also put you in difficult financial situations.

You should also make sure your letter is delivered legally. You can do this by mailing your letter by certified mail. This will ensure that your timeshare company receives your cancellation letter. If your timeshare company does not acknowledge delivery of your letter, you may need to go to court to get out of the contract.

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