Timeshare Cancellation is a process of legally getting out of a timeshare contract. It requires a lawyer to help with the process. Timeshare companies are notorious for bait and switch tactics that can make this difficult. The law firms that specialize in this area understand the tricks that they use, and can get around them to make the cancellation as successful as possible for their clients.
Most states and many foreign countries have laws that give timeshare purchasers a window of a few days to cancel their purchase. This period is called rescission and it usually lasts for about 5-7 days after the contract is signed. During this period, the company must refund all of the money they received from the purchaser. However, many times the company will not honor this right and they make it very difficult to get in touch with them.
When the rescission window closes, it is important to act quickly to avoid losing your refund. In most cases, you will need to write a letter stating that you want to cancel the contract and request that your funds be returned. It is also important to follow the law in your state regarding how this letter must be delivered. It may not be acceptable to simply drop the letter off at the company’s office, or it may need to be hand delivered by a process server who can sign an affidavit saying that the delivery was completed.
In some situations, people who purchase a timeshare are having second thoughts and realize that they have been deceived. These individuals often try to get out of their timeshares by selling or renting them, but this can be a lengthy and complicated process. Some people may even find themselves unable to sell or rent their timeshares after the rescission period has expired.
If you have decided that you want to cancel your timeshare, it is imperative to act sooner rather than later. Leaving it too late can cause the rescission period to expire, or even result in a lawsuit. A good law firm that specializes in timeshare termination and cancellation will help you to review the terms of your contract, determine what laws apply and how much time you have to cancel your contract.
Some companies specializing in this field will offer a free consultation for their services. During this initial meeting, the attorney will evaluate your specific case and structure a plan of action to best serve you. This plan will include any necessary steps that must be taken to successfully cancel your timeshare and ensure that your refund is properly returned to you. In addition, these lawyers will be able to provide you with a timeline of how long it will take to reach your end goal of cancelling your timeshare. This timeline will be based on their experience and the laws in your state or country. They will also consider any additional factors that might impact the timeline of your success, such as whether you have children or are in a divorced marriage.