Timeshare Cancellation is an option available to timeshare purchasers who have second thoughts about their purchase. If executed within a specific period of time following the purchase, this can result in a full refund, without penalty, and an end to your contractual obligations. However, this is a complex process that must be completed precisely, and requires the help of a trusted and reputable third-party company. Unfortunately, there are no shortage of timeshare cancellation scams out there, with many of these companies demanding thousands of dollars upfront and failing to deliver on their promises. Fortunately, there are a few trustworthy options that are accredited by the Better Business Bureau and the American Resort Development Association.
The best and most effective way to cancel a timeshare contract is with a letter of rescission, also known as a cancellation letter. This is a letter that is sent to the timeshare developer within the allotted timeframe, typically three to five days following the purchase of the timeshare. The exact procedure for preparing and delivering this letter varies by state or country, and is often outlined in the contract itself.
When writing a timeshare cancellation letter, the key is to be clear and direct. The purchaser should address the timeshare developer in question and express a desire to rescind their contract, and they should also include any information that is required by law or that is specified in the contract itself. For example, some states or foreign countries require that the rescinding statement be delivered via certified mail.
In addition to providing this information, the timeshare purchaser should also specify which laws they are relying on in exercising their right of rescission. Some states may have more than one set of laws that could apply, and making a mistake as to which one applies (for example, by using Florida law instead of Nevada’s) could jeopardize the entire rescinding process.
Once the timeshare purchaser has prepared and mailed the letter of rescission, they must follow up to ensure that it was received. Some states or countries may require that the notice be hand-delivered or confirmed, while others may only accept delivery via certified mail. The purchaser should also be sure that they have proof that the notice was delivered, such as a signed affidavit from a process server or another authorized person.
If the rescinding letter is not received by the timeshare developer before the statutory window expires, the contract will be considered a valid sale and the purchaser will not have any rights to a refund or exit the agreement. However, even if the purchaser misses this window, there are still other options to pursue.
If you need help getting out of a timeshare, contact a trustworthy and reputable third-party company like Centerstone Group. Their team of experts will help you find a legal and ethical solution. They have a BBB-A+ rating and dozens of reviews from satisfied clients. They can also assist with resale, if necessary.