You have the legal right to cancel your timeshare contract, no matter your reasons.
With the increase in the ways that timeshare developers misrepresent the facts, there is a growing number of resources to help protect the rights of timeshare owners. If you have a change of heart about keeping your timeshare, many laws protect your cooling-off period, allowing you to change your mind. Don’t believe the timeshare myth- you can’t cancel your timeshare purchase. If you walked away from your timeshare purchase doubting the decision, that can mean that you were likely coerced, pressured, or manipulated into buying the timeshare.
When your timeshare burden gets too big and you feel uncertain about your future as a timeshare owner, here are five simple steps to recission and to help get you back to no-strings-attached vacationing.
1. Gather your purchase contracts/paperwork.
Understanding your contract is essential for knowing your rights. It’s important to locate your contract number and all accompanying documents within your timeshare materials. Some timeshare companies have become cunning and may provide these documents on a flash drive or send the information via email, which adds additional steps to retrieve your contact information.
2. Check your rescission period for where you live and where you purchased.
Laws are continually changing, and it’s important not to take risks by delaying action. Verify the timeshare rescission periods specific to each state. The closing documents from your timeshare acquisition will prominently display the jurisdictional rescission period for your timeshare contract in bold on your Public Offering Statement.
3. Find the address for where to send your rescission letter.
Check your contract for the correct address to send your timeshare rescission letter. We cannot stress this enough. An internet search of the resort address is insufficient and could result in the incorrect department receiving the rescission letter.
4. Write the rescission letter.
Look for sample timeshare rescission letters.
5. Send the rescission letter.
It is recommended to send the rescission letter through USPS with the added services of Certified Mail® with a Return Receipt.
Things to Avoid:
- Do not write an email in an attempt to cancel the timeshare.
- Do not engage with the salesperson whatsoever.
- Do not go back to the sales center to discuss the rescission.
- Keep a record of the letter you sent.
- Follow up with the timeshare developer and make sure the letter was received.
What do you do if you are denied a rescission?
At Timeshare Legal, we offer a way out. We have helped thousands of clients cancel millions of dollars in timeshare debt. We understand the financial burden that timeshare companies leave their owners to carry; Timeshare Legal offers no-money upfront options for qualified candidates. With over 150 5-star reviews, there is a reason we are the leading timeshare cancellation company.
