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Rules of timeshare cancellation

Rules of timeshare cancellation
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Time shares can become a huge financial problem for those who have bought one, and don’t know what to do with it. Should they sell it, donate it, rent it or cancel the contract? The truth is that the cancellation of the contract has always been the best and most viable solution to get out of a timeshare legally. Therefore, it is very important to know the rules of timeshare cancellation to get the process done in a secure way.

Timeshare cancellation

Timeshare cancellation, also known as timeshare rescission, timeshare relief or timeshare exit, is the right to rescind the purchase of a timeshare legally, sometimes with the possibility to get all of your money back. Most times, timeshare salespeople ask you during the sales presentation not to cancel the contract; however, they are only trying to convince you to give up your legal rights. The truth is that you have the right to cancel your timeshare any time you want.

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Rules of timeshare cancellation

The rules of timeshare cancellation are pretty much the same everywhere. Every timeshare contract has a “rescission period” (also known as “cooling-off period”).  If you decide to cancel the timeshare during that period, you should notify the resort about your decision by email or certified mail in order to be effective.

Rules of timeshare cancellation in Mexico:

In Mexico, you have legally 5 business days to cancel a timesharecontract. The cancellation should be communicated in writing.

Rules of timeshare cancellation in the US:

In the US, the cancellation period varies by state to state, and it goes from 3 to 15 days. The law that applies for the cancellation is the one from the state where the timeshare was purchased. The cancellation should also be communicated in writing.

Tips and warnings

Before cancelling a timeshare agreement, we suggest you to follow the next advices:

-Tips-

  • Keep a copy of the receipt or the email as evidence to prove that you canceled on time, in case you did

  •  Do an internet research on the company that will assist you on the timeshare cancellation

-Warning-

rules of timeshare cancellation

What to do next

Even though the cancellation of the contract is evidently the best solution to get rid of an unwanted timeshare, the process requires lots of time and negotiations with the resort, which means that is not as simple as in other types of transactions, especially after the rescission period has expired.

 At Mexican Timeshare Solutions, we assist timeshare purchasers who feel they were scammed or taken advantage of by fraudulent salespeople and deceptive sales practices. MTS is a legitimate company with an A rating on the BBB, our associates have several years experience in the timeshare industry and are successfully able to resolve timeshare scam cases in an ethical and professional manner. Contact MTS today for a free consultation and get ready to cancel your timeshare now!

Information to Share

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

  • Share this link http://www.timesharescam.com/blog/166-rules-of-timeshare-cancellation/ on your favorite blogs and forums

 

Leave your comment below and share your opinion with us.Do you any know any other rules of timeshare cancellation? To know more about rules of timeshare cancellation visit:

How to rescind a timeshare contract?

Timeshare regulations in Mexico

Timeshare Cancellation rights

 

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30 Comments
  • Hugo May 31, 2016, 4:39 pm

    Muchas gracias por compartir , desgraciadamente actualmente los resorts estan super protegidos, ya que desde un principio te hacen firmar algo lo cual te impide querer cancelar en un futuro tu tiempo compartido , nosotros estamos pasando por esta experiencia y de verdad no es nada agradable.

  • Furious GeorgeMarzo 4, 2016, 11:21 am

    Make the cancellation , no matter how, a timeshare is not a good investment and it value decrease so fast..you can get a timeshare even for free if you search on ebay , amazon, people dont want timeshares anymore! the resort doesnt care about our rights , dont get caught

  • Ed Pulido.December 21, 2015, 10:59 am

    Thanks for share, this is very useful for those people who dont have an idea about how timeshare contract works, for my experience timeshare stuff is a very tricky thing , you dont know if your timeshare is yours or not , so for own experience a timeshare is not a good option for your future.

  • MozandillaJuly 27, 2015, 9:38 am

    I have never been in collections, I have a timeshare that I need to get rid off, I trying to sell but it may take some time before I find a buyer. I cant no longer afford the payments.

  • Rodriguez80July 27, 2015, 9:26 am

    I need to know more of this, i was scammed last year by mayan palace resort, and now i want to get out , you know, the maintenance fees are insane, and all the things that told me on the timeshare presentation was true, god really i dont know what to do with my timeshare, pls help !

  • Ruben RiosJune 6, 2015, 1:22 pm

    Muy acertado este articulo , aunque yo jamas vuelvo a meterme con algo de tiempos compartidos , de vd que son una molestia , todo empieza asistiendo a una presentacion de tiempo compartido , asi fue como yo cai y perdi mucho dinero con un resort en cancun , lo mejor es evitar los tiempos compartidos sin duda alguna.

  • Eliza G.January 17, 2015, 12:05 am

    I have to admit that one of my biggest mistakes was that i never read the full contract, so now im in the cancellation process, at this point i notice that exist many , but many things that i didnt know about my timeshare, so pleas as a recommendation read the full contract first , but if you want a better tip , avoid timeshares

  • PhillSeptember 14, 2014, 11:50 am

    in mexico you have 5 days to cancel.. but no one respect that.. :S

  • GabrielAugust 11, 2014, 8:51 am

    yo intente cancelar dentro de ese tiempo pero simplemente me ignoraron, cuando volvi a intentarlo me dijeron que ya no podia cancelar

  • FranklinJuly 7, 2014, 10:23 am

    its so important to follow every single step before signing the contract, because maybe later you're going to discover that you've been scammed

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