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How to rescind a timeshare contract?

How to rescind a timeshare contract?
25 Feb 2013
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A timeshare can turn into a big headache and a strain on the wallet. Learn more about timeshare cancellation and how to get out of a timeshare contract

Timeshare industry is well known for being very vulnerable to scams; consequently, vacationers and timeshare owners should be aware of timeshare investments, phony offers to rent or resell timeshares or practically anything that sounds too good to be true.

Timeshares are set up by a big number of resorts to sell shared interest in their properties. In order to attract new customers, they frequently give great timeshare presentations where you can get attractive gifts such as free stays at the resort, free meals and discount coupons; at the same time they will try to sell you the right to use one of their properties during a certain period of the year.

There is nothing wrong with the whole concept of timeshares; the problem is when the sales tactics become high-pressure and fraudulent. There are many people who attend timeshare presentations just for the freebies, but after 4 hours of pressure, they end up buying a timeshare.   Learn how to rescind a timeshare contract and the advantages of timeshare cancellation.


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A rescission period

Before thinking on purchasing a timeshare, you should know and understand a few facts about timeshares: how timeshares work, that the resale value is much lower than the original price, that you will have to pay monthly or yearly maintenance fees and your timeshare cancellation rights, among others.

After a timeshare is purchased, you usually have a rescission period to change your mind. A rescission period, also known as cooling-off period, refers to a certain time after a timeshare purchase is made, where you have the right to cancel the contract agreement without any penalties, and you can also get your total deposit back. In Mexico, you have five business days to cancel the contract, in the US; this period varies depending on the state where the purchase was made, which usually goes from 5 to 15 days.

How to rescind a timeshare contract?

So you just got out of a timeshare presentation and where you were impressed by the beautiful promises told by the salesmen. Now you’re being suspicious and wondering how to rescind a timeshare contract. If you’re within the rescission period, follow the next steps to cancel your timeshare contract:

  1. Read your timeshare contract carefully and look for the cancellation clauses. 
  2. Draw up a cancellation letter and send it to the resort via certified mail or write an email explaining that you would like to cancel the contract. You don’t have to give a long-winded explanation of why you would like to cancel the contract.  Keep the receipt as evidence that you cancelled on time. Visit our article Sample timeshare cancellation letter to know how to write the cancellation request.
  3. After the letter is sent, you should receive a refund of all the money you paid. If the timeshare resort refuses to do so, contact the government consumer protection agency of the country where you purchased the timeshare.

how to rescind a timeshare contract

What happens if the rescission period has expired?

Unfortunately, many people realized they’ve been scammed after the rescission period has expired. Sometimes, timeshare owners don’t want their timeshare anymore because they’re not able to use it, or keep paying the maintenance fees, so, how to rescind a timeshare contract after the rescission period has expired? Well, there are other possible solutions to get out of a timeshare:

-            Sell it:  Selling a timeshare can be extremely difficult, almost impossible, even when the price will be much lower than the original purchase price.

-          Rent it: It is very hard to find someone to rent out your vacation ownership, so this is not really an option. There are many timeshare rental companies that claim to rent your timeshare  for a large upfront fee, but most of these companies end up being fraudulent.

-          Donate it: There are very few organizations that accept deeded timeshare donations. Unfortunately, most charities will not take timeshares because they are not willing to pay the maintenance fees.

Getting rid of a timeshare is not easy, but not impossible either, to read more possible solutions visit our article Donate timeshare scam.  Just remember: NEVER pay a large upfront fee in an effort to get rid of your timeshare!

The real solution

Do not waste your time and your money. If you want to get rid of your timeshare properly and without further problems the best solution is to cancel the contract. Timeshare cancellation is the most effective and secure solution. When a contract is appropriately cancelled, you won’t have any more strings attached to the resort. If you, or someone you know, want to get rid of a timeshare you don’t want or use, contact Mexican Timeshare Solutions for a free consultation on your matter. At MTS, our goal is to assist timeshare purchasers who feel they were scammed or taken advantage of by fraudulent salespeople and deceptive sales practices.  As specialists in the timeshare industry, we are committed to offering timeshare help in a fast, friendly and experienced service to clients. Our associates have several years experience in the timeshare help industry and are successfully able to resolve timeshare scam cases in an ethical and professional manner. Contact us today for a free consultation and get a final relief from your timeshare!

Information to Share

If you liked this article, please help us to share this information to more people in order to avoid more timeshare scams victims, how?

  • Share this link http://www.timesharescam.com/blog/143-how-to-rescind-a-timeshare-contract/ on your favorite blogs and forums


     To know more about how to rescind a timeshare contract visit our article:
    Cancel a timeshare – What are the advantages?

Leave your comment below and share this post on Twitter and Facebook to prevent others from becoming victims of timeshare fraud. 

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22 Comments
  • AnneApril 2, 2014, 3:48 pm

    this was very helpful for me, i'm really desperate!!! i need to cancel my timeshare contract as soon as possible

  • LuciaFebruary 11, 2014, 2:49 am

    en estos momentos me encuentro bastante desesperada por deshacerme de mi tiempo compartido, tengo varios años ya intentando hacerlo y nadie me ha ayudado, solo ha sido perdidas de dinero

  • moonwalkerJanuary 29, 2014, 9:42 am

    I recently put a down payment on a timeshare in Mexico but changed my mind 4 days later. I notified by credit card company and they are helping me dispute it but I was wondering how binding the contract is considering it was signed in Mazatlan Mexico. Is there a grace period to cancel without any penalty? If my credit card company is able to get the payment from going thru am I home free? What can the people I bought the timeshare people do to me legally? What are my rights? They told me I can’t cancel the only thing I can do is down grade the timeshare purchase to a less expensive one or forfeit the down payment? Do you have to be a certain age to buy a time share in Mazatlan Mexico?

  • jwopanamaJanuary 27, 2014, 12:57 pm

    In my experience of attending several timeshare promotions, people don't need to "assume" that the timeshare will go up in value as you state-they are told that by the salesperson.

  • Rose WaissbluthJanuary 15, 2014, 8:39 am

    There is a lot of misinformation flying around about timeshare that can get you into a lot of financial trouble if you believe it. Most of it comes from timeshare salespeople overstating the truth that get repeated when people explain why they purchased a timeshare. But just because something has been repeated many times doesn’t make it the truth

  • Anastasia BeaverhausenDecember 9, 2013, 1:01 pm

    Never understood why people buy timeshares. It seems everyone on shows has “$5 million dollars of marble in their garage and nothing saved”. Not literally, but on most of these Bravo shows they have nice cars, designer clothes and I am guessing nothing to retire on…with a few exceptions.

  • XimenaNovember 18, 2013, 10:08 am

    El problema aqui es que ellos dicen que podremos cancelar el contrato en cualquier momento, y jamas nos hablan de ese periodo, asi que cuando pasan esos dias practicamente no hay nada mas que hacer!!!

  • XimenaAugust 30, 2013, 1:23 pm

    Muchisimas gracias, este articulo fue de gran ayuda y esta muy bien explicado!!! Me pondre en contacto con ustedes para que me ayuden a cancelar mi contrato, he tenido problemas con esto desde hace ya mas de 4 años, me urge deshacerme de el

  • PeterAugust 23, 2013, 1:07 pm

    when I realized that I could not cancel my timeshare, the best option was to seek help where they informed me that I had choices, just as mentioned in the article, my option was to sell

  • BrunoAugust 23, 2013, 1:04 pm

    could not agree more, but I think the real solution is to be well informed to avoid those problems

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