A timeshare cancellation is a great way to avoid the headache of paying maintenance fees and other charges while still being able to take advantage of the benefits of owning a vacation property. Having a clear understanding of your legal rights and how to act when timeshare cancellation is necessary can help you get out of your contract without much trouble.
The process for a timeshare cancellation should start with a phone call to your resort or developer’s in-house exit team. They will review your situation and see if you qualify for their services, and then assess your options with a goal of finding a safe and responsible solution that makes sense for you and the brand you purchased from.
They’ll work to get your documents in order, meet with your timeshare management company’s team and send your documentation off to the developer or resort. They’ll also do their best to make sure the resort’s cancellation department receives your request and works quickly until a solution is found.
Once your paperwork is in order, the next step is to write a detailed and well-thought out letter to your timeshare company, explaining why you are canceling your agreement. It’s easy to get caught up in your emotions when it comes to writing this letter, so it’s important to stick to a strict list of details and not miss any critical points.
First, always be sure to include all the dates and copies of all correspondence relating to your request for timeshare cancellation, including letters, emails and faxes. If you’re mailing your letter, ensure it’s postmarked within the rescission period and that you’ve included a return receipt to confirm it was received.
In addition, be sure to include the specific timeshare cancellation language that your contact used in their sales packet or on your agreement. This will allow the recipient of your letter to understand what to expect, and give you a better chance of getting them to follow through.
If you haven’t already, create a folder where you can store your timeshare cancellation-related correspondence until the end of the process. This will make it easier to track your correspondence and keep records of your efforts at a glance.
Once you have all your documents in order, you should start the cancellation process with a representative from your exit team. They’ll meet with you to discuss your needs and goals, and then draw up an exit plan that fits you.
You’ll then submit the necessary documentation and be notified of any further steps that need to be taken. This will vary from individual to individual, but usually includes meeting with a title company and an attorney, as well as working with your resort’s cancellation team to ensure your paperwork is in order and forwarded swiftly until a solution is found.
When you’ve followed these steps, it will be a lot easier to get your timeshare cancellation underway, and in many cases, you’ll find that the process is quick and straightforward.