What are the rescission laws for timeshares in Mexico?
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 timeshare cancellation 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, the timeshare industry has this misleading side which not everybody knows: they promise it to be less expensive over time than spending money in hotels every time you travel including the wonderful time you´ll be having enjoying your own privacy, but on the other side, it is all just misrepresented scams by deceiving sellers and timeshare companies using fraudulent sales tactics in their timeshare presentations, that’s why the timeshare industry in Mexico is gaining a very bad reputation, and foreigners lately look for getting out of timeshare contract in Mexico 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.
You can determine some warning signs that may indicate you´re being scammed before buying a timeshare.
Mexico Timeshare Laws
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. You can learn more below about the Mexican Law for timeshare cancellation and undo the contract on the occasion you regret it.
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 llok for getting out of timeshare contract in Mexico and request the cancellation and the timeshare company tells you that you cannot rescind, this is illegal. The following represent the risks you may have as a timeshare buyer in Mexico:
- Waiver f the right to cancel within the allowed period of 5 days.
- The contractual language might not be in the client´s language so that he can be sent to credit collections to force contract payment in case of non-payment.
- Have customers sign documents that serve to lose their initial payment at the time of cancellation.
Rescission laws for timeshares in Mexico protects foreigners as well as Mexicans in the timeshare matter, so don’t allow the timeshare company confuse 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, in order to proceed with Mexican law for timeshare cancellation 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 that should be able to help you getting out of timeshare contract in Mexico in case you suspect you´ve been hoaxed or have found out that you were indeed victim of a scam.
You should be aware to avoid canceling your Mexican timeshare after the rescission period, since you´ve only got a few days to take action in provision of PROFECO works with your case.
As it is stipulated by tha article 56 Federal Consumer Protection Law you have to follow up with some steps as mailing a cancellation request letter with details on how you feel you have been deceived. we recommend you to read the article so you know your rights better as a foreign.
How to rescind a timeshare contract in Mexico
Take notice of the options available to you. Regulary, when you´re getting out of a timesahre contract, you have the option to cancel or terminate it . In case of a termination, it happens that you have an unrealized balace and a compensation. it is also called terminacion when the contract is terminated for reasons other than breach, when you terminate the contract for breach, it´s called cancellation
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, even for you to get your prioritized with the Mexican law for timeshare cancellation. It is mentally exhausting and financially stressful, that is why we advise you to act right away.
Even though the rescission period is very short, the good news are you still have the possibility to cancel a mexican timeshare after the rescission period, you shouldn´t be worried be worried about not getting your case solved or at least money back. We understand going through that would be a great injustice.
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 and you cancel a mexican timeshare after the rescission period. 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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