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Get out of timeshare legally

Get out of timeshare legally
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Several ways to get out of timeshare legally

There are plenty of reasons why people are looking to getting out of timeshare today; some might want to be free of maintenance fees, mortgage payments or, plain and simple, can´t afford another payment.

But Americans and Canadians should get out of timeshare LEGALLY for once and for all. When you want to get rid of weed in your garden, you need to cut it from the roots. It is the same with timeshare contracts. In order to be able to leave it behind and be sure a problem will not come up in the future is to get out of timeshare legally.

When you don´t cancel a contract properly, you run the risk that the resort comes after you later asking you not only for what you owe to them but also penalties, interest and more. There are several ways to get out of timeshare legally and we´ll go though the pros and cons of most of them:

Sell it or give it away to someone else 

The demand for timeshare resale's is very low. You most probably will have to give it away or sell it for a few dollars if lucky. Statistically, there are about 600 timeshare owners wanting to sell their timeshares for every prospective buyer in America.

PROS     Once the timeshare is in someone else´s hands, you are pretty much free of obligations with the timeshare resort.

CONS    This process requires time from you since you need to find someone to buy the timeshare. Once you find this person, you need to do the transfer process which in most cases, you need to pay for.

If transfer of ownership is not done properly, you will still be responsible for any further obligation with the timeshare resort.

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Give back the timeshare to the resort

Some resorts might accept the timeshare back, especially if you are over 75 years of age.

PROS     Resort takes ownership of the property and you get out of timeshare legally.

CONS    99.99% of timeshare resorts don´t accept the membership back for the simple reason that if you don´t want your timeshare, you won´t use it but you still have the obligation to pay maintenance fees. This is a winning situation for the resort and the reason most timeshares don´t accept memberships back.

Get a timeshare relief company to take it from your hands 

It is the same process as giving it away but in this case you pay a company to find the prospective buyer and they take care of the transfer process.

PROS     They take ownership and you get out of timeshare legally... if they actually do their job after you paid them upfront.

CONS    With thousands of people looking to escape their timeshare obligation, the number of timeshare cancellation or "relief" companies is increasing exponentially. timeshare scammers have found a new venue to take people´s money; they charge owners large amounts of money to cancel timeshares. MOST CANCELLATION COMPANIES THAT OFFER RELIEF AND CHARGE UPFRONT ARE SCAMS.

Donate your timeshare

I´m sorry to tell you this but charities aren´t accepting timeshares anymore regardless of what other timeshare donation companies claim. Let's face it: charities don´t want timeshares for the same reason as you; Their value is almost zero!

PROS     You get out of timeshare legally... if you find a charity that will take over your timeshare!

CONS    Many consumers have called MTS seeking help with a company who offer them to get a charity to take over their timeshare and was charged an upfront fee in order to start the process and now the company claims that the charity for some reason can´t accept the timeshare anymore. Even worse, people who though that they were timeshare free and filed paperwork to the IRS for tax deduction, are being investigated since the appraisal received by the timeshare donation company was overestimated.

Cancel your timeshare contract with a company willing to work based on results 

cancel timeshare

Seek help from a timeshare attorney or a timeshare cancellation company such as MTS who is willing to work under a contingency basis; No satisfactory results for you, no pay.

PROS     You get out of timeshare legally and are protected since you don´t pay anything until and only if you get out of timeshare legally.

CONS    None

Our intention with this article is to educate you, timeshare owner, to know the possible scams and solutions to your timeshare needs. If you have the desire to cancel a timeshare contract, contact MTS today for a free consultation on how we can help you release you from future timeshare obligations in three easy steps.

Information to Share

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 Leave your comment below and share your opinion with us. To know more about timeshare scams go to: Tatw Incorporated : Beware of Timeshare frauds in Mexico

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22 Comments
  • henry wolfeJuly 5, 2015, 11:47 pm

    I want to get rid of my Time Share

  • travisFebruary 27, 2015, 5:10 pm

    A fin de cuentas al querer salir de esto no tienes muchas alternativas, en primer lugar si quieres salirte o dejar tu tiempo compartido de buenas a primeras es muy dificil puesto que las personas del resort te ponen mil trabas para que no lo hagas, hasta terminan demandandote por no cumplir el contrato , lo mejro es que ni siquiera pararte por un hotel y comprar un tiempo compartido.

  • Carol L SmithOctober 14, 2014, 2:08 pm

    NEVER pay someone up front to rent your timeshare for you! As this guy found out, it's a scam. There's a great website (google timeshare users group) of timeshare owners that can help you maximize your timeshare. As a timeshare owner I've learned a lot from them!

  • LeeAnnClarkSeptember 12, 2014, 3:03 pm

    I have never understood why anyone buys a timeshare. I've been to several timeshare sales presentations, and had no problem walking away from them. Why? Because they make no sense! They try to woo you with all kinds of financial shenanigans, but add up how much you are actually spending per year (payments, annual maintenance, other hidden fees, taxes etc.), and you can always get a really nice hotel room for far less...anywhere you want. Why would anyone want to lock themselves into one specific place at one specific time for every vacation? Aren't there other places you want to see? Other times of the year you want to travel?

  • JackieAugust 2, 2014, 9:08 am

    I suspect a lot of people end up buying time shares not because they want them, but because they’re persuaded by the hard sell pitches that accompany many of the “free gift, just listen to our presentation” type offers.

  • JesusJuly 28, 2014, 9:08 am

    I think people should just hire someone to help them with these cases of fraud, other way they'll never get away of them.

  • NataliaJune 24, 2014, 3:28 pm

    Thank you for writing this, it has helped a lot. I just have a question, we signed our contract on Saturday the 17th, sent out the cancellation letter via certified mail monday the 19th, I am worried it wont get there by “the 5th calender day after the execution of the contract” due to the Holidays, do you know if it should be there by the 21st or 22nd? Or is it when it the date that it was shipped what matters?

  • LorenzoidApril 7, 2014, 7:40 am

    Timeshares are not "worthless." They are worth what someone will pay for them, just as they always have been. A timeshare is nothing but an entitlement to, what, two weeks a year at some resort? Okay, what is that worth, taking into account the maintenance fee and the estimated market for that sort of thing? I myself would be willing to pay maybe a couple of thousand bucks for one. I find it hard to believe that some people once valued them at ten or 20 times that much, but the fact is that people did. I'm sure if the price is low enough, supply and demand will work properly and find buyers for all those supposedly "worthless" timeshares. A couple of thousand dollars is NOT zero.

  • GinaApril 7, 2014, 7:24 am

    We purchased what we thought were UDI points. We were told upfront they were converted from a fixed week but they were now fixed week points We were assessed a higher than normal assessment because Wyndham UDI points were exempt but fixed converted to UDI were not so we bore the brunt of the burden. Requests for paperwork have been met with stall tactics.

    This is just a bad company. Everyone at Wyndham tells you it is someone else's fault but never do they own up to their actions.

  • XimenaApril 4, 2014, 3:45 pm

    yo les recomiendo por experiencia propia que no se compliquen aun mas y contraten a alguien que se haga cargo, siempre es lo mejor arreglarlo todo de forma legal!

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