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What is Rescinding a timeshare?

What is Rescinding a timeshare?
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We all have experienced buyer’s remorse, but to buy timeshares that are ridiculously expensive and practically worthless, must be one of the most painful experiences for you and your pocket. However, there is always a bright side, and in this case, the bright side is that there is a way to get out of timeshare legally. Learn more on what is rescinding a timeshare, and how to do it efficiently and properly.

Also Read: How long do I have to rescind my timeshare?

What is rescinding a timeshare?

Rescinding a timeshare is a legal way to cancel a timeshare contract, sometimes with the possibility to get your money back and usually within a certain number of days, this depending on the place where you purchased the timeshare. In Mexico, there is a 5 day cancellation period, and even though some timeshare salespeople might ask you to sign away your right to cancel during the sales presentation, you still have the legal right to rescind.

Unfortunately, most people regret their timeshare purchase after the rescission period has expired, and that represents the beginning of a one on one battle with the resort to fight for the timeshare cancellation. Desperate to recover the money they have lost, timeshare scam victims become an easy target for other fraudulent companies that claim to be the solution to all of their problems.

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Timeshare Purchase – Reasons to rescind

There are many valid reasons why someone would be interested on what is rescinding a timeshare. These are one of the most common reasons to rescind a timeshare contract:

  • You do not completely understand how timeshares work
  • You bought your timeshare under the pressure of fraudulent sales tactics
  • You will not be able to finance your timeshare
  • The resort has not delivered what was promised during the presentation
  • You are not able to rent your timeshare weeks
  • You do not want to spend your vacations attached to a specific resort and a specific time of the year
  • You were told your timeshare was a financial investment, which is not
  • You have not had success using other methods to get rid of your timeshare

Also Read: Cancel Timeshare Contract

Time to rescind

If you feel you were scammed with your timeshare, it is time to rescind! Like thousands of vacationers in Mexico who are in your same situation, you do have the right to rescind, even when the rescission period has expired. We at Mexican Timeshare Solutions treat each case individually, we offer each of our clients a free consultation with one of our associates to gather more information about your specific situation and advise you about how we will go about canceling your contract. Contact us today for your free consultation, and get ready to rescind!

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? 

 

Leave your comment below and share your opinion with us.Do you have any other ideas on what is Rescinding a timeshare? To know more on what is Rescinding a timeshare visit:

How to cancel a timeshare?

How to rescind a timeshare contract?

Timeshare cancellation letter sample

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31 Comments
  • Raul AguiarApril 11, 2016, 9:39 am

    Excelente articulo , muy informativo , hasta hace poco mi esposa y yo nos libramos de nuestro tiempo compartido conroyal holiday , y cosas de las que menciona el articulo lo intentamos,desgraciadamente el resort esta sumamente protegido y es casi imposible hacer la cancelacion por uno solo , mi consejo seria que mejor ni se involucraran en los tiempos compartidos.

  • Hal KirkMarzo 3, 2016, 5:49 pm

    Thanks for share, the best that we can do is to cancel our timeshare contract, timeshare field is a tricky field, really is not a good investment at all, we experience a nasty situation with royal holiday , luckily we cancelled, the maintenance fees increase like crazy and we cannot afford anymore still paying that quantity

  • Alberto FraydeFebruary 29, 2016, 10:49 am

    Muchas gracias por compartir , es muy buena informacion solo que para personas que no sabemos como funciona esto nos es muy dificil como actuar ante estas situaciones, mi esposa y yo intentamos hacerlo por nuestra cuenta de manera legal pero nos fue imposible, tuvimos que pedir ayuda a profesionales.

  • EduardoNovember 16, 2015, 10:36 am

    Justamente eso es lo que necesito hacer, no puedo solventar ni un peso mas mi tiempo compartido , me he comunicado con el resort en el que tengo mi tiempo compartido pero no me dan respustas claras y el tiempo sigue pasando y yo pagando , espero MTS me puedan ayudar, saludos.

  • Freddy RosasApril 20, 2015, 1:16 am

    I Spend a very unpleasant experience with Timeshare people, completely cheated me, I had the bad luck to go to a presentation of timeshares and there was where I was convinced to purchase one, worst of all is that I could never use, are evils these timeshare persons,scamers..

  • Freddy RosasApril 20, 2015, 1:16 am

    I Spend a very unpleasant experience with Timeshare people, completely cheated me, I had the bad luck to go to a presentation of timeshares and there was where I was convinced to purchase one, worst of all is that I could never use, are evils these timeshare persons,scamers..

  • danMarzo 9, 2015, 12:12 am

    Ths coulbe the best option , timeshare fraud is everywhere, if you have a timeshare you need to think about how or what you gonna do when you dont want it anymore, ? the resort people are so tricky with this kind of things, you should check the contract very veeeeery carefully , many times persons trust at first sight and after that comes the complaints, stay alert

  • Renato C.January 10, 2015, 8:54 pm

    The better option is to cancel it , anyway rescinding it could be a good idea, but is not going to be a easy task, some people think that only with the rescind task is gonna save them for many complaints, but the true is that those resort people are experts to scam and stole your money no matter what , so on my own experience you should ask a professional before open yout mouth

  • Mark GrahamDecember 20, 2014, 8:03 pm

    i really need to cancel my timeshare, it's been 3 years now since i purchased it and i can't pay it anymore, especially because i never used it

  • JosieOctober 20, 2014, 8:06 am

    My father owned one of the points-based timeshares and had a bunch of the family to Disney World one year as his guests. It was a lovely resort with every imaginable amenity, so when I saw a sign to see a salesperson about the timeshare, I checked it out. It was purely out of curiosity and I thought the conversation would a casual back-and-forth. Well, let me tell you the sales pitch was more like walking into a torture chamber where they hooked me up to the rack until I agreed to open my checkbook and sign up. I did not, barely escaping with my dignity.
    The whole experience was low, cheap and underhanded, leaving me with an awful taste for all timeshare situations. And years later when my dad wanted unload the thing, he ended up paying them to take it back!
    I did a quick financial calculation, based on what he paid for the timeshare, how and where he used it, and came up with a number that verified to me he could have taken luxury vacations each year in any manner he chose by making the reservations on his own — and still not spent as much as he did with the rip-off time share deal.
    I think time shares are awful.

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