The right of cancellation cannot be denied. If you try to cancel, the timeshare salespeople will tell you that you have lost that right when you signed the contract. But this is not true. Mexican law provides that purchasers have legal right to cancel their timeshare contract without penalty. Learn what are the rescission laws for timeshares in Mexico.
Timeshare scams in Mexico
Mexico is considered one of the premier destinations in the world due to its culture and beautiful scenery; also is the second country with more timeshare developments of the world, which means timeshare industry is strong in this country. Unfortunately, a big number of timeshare companies use fraudulent sales tactics in their timeshare presentations, that’s why the timeshare industry in Mexico is gaining a very bad reputation, as we can see in:
There are hundreds of people who have become victims of timeshare fraud in Mexico, and this is the reason why most of them feel they need to rescind of their timeshare purchase.
What are the rescission laws for timeshares in Mexico?
If you purchased a Mexican timeshare, but you have decided that your purchase is a mistake, don’t be worried, you still have the right to rescind of your timeshare contract.
There are many reasons why timeshare owners feel uneasy about their timeshares purchases: they are very expensive, timeshare maintenance fees highly increase every year, or they just realize that they don’t really need it or they were scammed. They are several things to keep in mind about the rescission laws for timeshare in Mexico.
Every timeshare contract in Mexico has a 5 day rescission period, regardless of what the timeshare resort tells you. If you request the cancellation and the timeshare company tells you that you cannot rescind, this is illegal.
Rescission laws for timeshares in Mexico protects foreigners as well as Mexicans in the timeshare matter, so don’t allow the timeshare company confuses you or deny you your rights to cancel the timeshare ownership.
The timeshare company must refund all the money that you paid without any penalties, but sometimes the timeshare resort refuses to give you a refund. If this happens to you, you can file a formal complaint against the company with PROFECO.
What is PROFECO?
Office of the Federal Prosecutor for the Consumer, better known as PROFECO, is the consumer protection agency whose purpose is to strengthen consumer rights. They have a department to protect consumers against abuses or fraud by Mexican companies. Many timeshare scam victims that purchased a timeshare under the Mexican law target to this department.
How to rescind a timeshare contract in Mexico
If you purchased a timeshare in Mexico and you want to cancel it, you must follow these steps according the rescission laws for timeshare in Mexico:
- Act quickly! The rescission period in Mexico is the 5 business days.
- Read your contract, and follow the instruction about the cancellation.
- Write and send a timeshare cancellation letter via certified mail, and keep evidence that you cancel on time.
Rescinding after the rescission period
Most of timeshare buyers do not realize that they have been scammed within the rescission period, and unfortunately, the cancellation of the timeshare contract becomes more difficult, but you still have the possibility to cancel.
If you find yourself in a situation where the rescission laws for timeshares in Mexico are not on your side, do not despair. At Mexican Timeshare Solutions, our professional staff will work hard to ensure that justice is obtained. We are the only company that does not charge upfront fees to cancel your contract. Contact us for a free consultation on how we can help you release you from any timeshare obligation in a legal way.
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