The timeshare industry has spent a lot of money and effort to confuse and delay the cancellation of timeshare contracts. If you are considering buying a timeshare, you should learn more about your rights before you make the purchase. You should also be sure to cancel your timeshare within the rescission period. Depending on your state, you may have a rescission period of three to fifteen days.
Some states require the timeshare company to allow for a written cancellation. Others will provide a phone cancellation service. It is best to read your contract carefully to ensure you understand how you can cancel. Also, many timeshare companies are unwilling to honor your request for cancellation.
The timeshare rescission period is not a very long period of time. In most states, it is three days. However, it can be longer depending on the specifics of the timeshare agreement. This is because the resort company and the owner will have to work out a schedule for when each of them will be able to use the property.
Many people who buy a timeshare may not realize the rescission period is in place until too late. It’s important to get the cancellation process started as soon as possible. If you don’t, your timeshare may be wasted.
One of the most common reasons for wishing to cancel a timeshare is regret. It’s difficult to move forward in life if you’re thinking about getting rid of your timeshare. Whether you’re just not happy with the location of the resort, or if you’re unhappy with the maintenance fees, you must act quickly. When you’re ready to cancel your timeshare, it’s essential to get the letter of cancellation in writing.
Be wary of unscrupulous representatives who tell you that you can call them and cancel your timeshare. These are typically a shell corporation, which means they can legally hold you on to the contract. A shell company can also charge you an upfront fee and stop paying any fees while they work out the details of your contract.
There are some laws in certain states that will allow you to cancel your timeshare even after the rescission period has passed. For example, New York law allows you to cancel your timeshare within seven days. Similarly, Nevada law gives you the right to cancel your timeshare within five days.
If you need more help, you can seek the services of an experienced timeshare exit expert. Using a reputable and experienced company will ensure that your timeshare is canceled. EZ Exit Now is one of these companies. They have a team of experts in their corner who can help you find the best way to get out of your timeshare.
Remember to keep your letters brief. Ideally, they should contain just a few bullet points, explaining your reason for canceling your timeshare. This will keep the letter from becoming boring and will also make it easier to read.
Even if you have a written record of your contract, it’s still a good idea to speak to the resort staff. You’ll want to ask about any special circumstances that have caused you to need to cancel your timeshare. You should also be sure to tell them when you’d like to get a refund.