Common questions

How do I cancel my timeshare or sell it?

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How do I cancel my timeshare or sell it?

While it’s usually not necessary to provide a reason for canceling the timeshare contract, you do need to explicitly state that the purpose of the letter is to rescind the contract. A statement like “I am contacting you within the rescission period to cancel this timeshare contract” will usually work.

How do you legally dump a timeshare?

Don’t despair – there are ways to dispose of your timeshare legally, but they take time and effort.

  1. Contact the Resort. Some resorts may have their own timeshare exit programs.
  2. Find a Buyer.
  3. Rent the Timeshare.
  4. Give It Away.
  5. Deeded Timeshare Donation.
  6. Timeshare Contract Loopholes.
  7. Timeshare Exit Team.
  8. What Not to Do.

Is there a grace period to cancel timeshare?

So, if you wish to cancel your resort timeshare purchase, you generally have a period of 5-15 days after purchase wherein you may legally rescind the contract. After the rescission period has expired, you can no longer cancel your purchase without penalty.

What is the cheapest way to get out of a timeshare?

How to Get Out of a Timeshare

  1. Check Your Timeshare Contract. Many timeshare contracts contain a retraction or rescission period.
  2. See if the Company Will Buy it Back.
  3. See if the Company Will Take it Back for Free.
  4. Sell Your Timeshare.
  5. Give Your Timeshare Away.
  6. You’re Stuck With One Company.
  7. You May Not Use It.
  8. They Cost a LOT.

How do you get out of timeshare and get money back?

Some will let you deed back the property only if you have a financial hardship. Smaller resorts and developers that don’t have official deed-back programs may relent anyway….The Advice

  1. Stop paying. Before you do this, take stock of your situation.
  2. Offer it on the resale market.
  3. Use a company to help you exit.

How do I legally dispose of a timeshare?

If you ever decide to get rid of your timeshare, there are ways to legally dispose of it . In some instances, it is possible to dispose of a timeshare without the help of an outside company. Review the terms of the timeshare contract. Ensure that the contract was purchased and not leased.

What happens when you sell a timeshare?

Keep in mind that you aren’t going to get anything near what you paid for the timeshare when you sell, and that unloading it primarily means you are no longer responsible for its costs. Some older timeshares literally have no value, yet annual fees remain high and continue rising.

How do I cancel my timeshare contract?

The best way to do this is by writing a letter. Be sure to include your name as it is indicated on the contract, your address, email address, and phone number, the timeshare’s description, the date you bought the timeshare, and the statement that you are canceling the contract.

Do I need a lawyer to get rid of a timeshare?

First, have a lawyer familiar with timeshares look over your contract for any timeshare contract loopholes enabling you to dispose of the timeshare. Timeshare developers spend enormous amounts of money on attorneys to ensure their contracts are virtually unbreakable, but there are always exceptions.

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