Get out of a timeshare legally - Timeshare Law
Get to know who´s side the Law is. Sometimes, law is in the hands of very well protected Timeshare corporations. Learn your rights as a consumer so you can defend yourself against timeshare resorts that sell fraudulently and get out of a timeshare legally
All timeshares purchased fall under the jurisdiction of the state or the country you purchased at. In the case of mexican timeshares, purchasers from foreing countries such as USA or Canada must be very careful since American or Canedian law does not protect them. Timeshares purchased in Mexico fall under Mexican jurisdiction.
There are various timeshare laws and regulations in Mexico to give order to the timeshare industry; however, they are not very effective at preventing scams. There are also consumer protection laws in Mexico that assist timeshare purchasers to cancel their timeshare contract within a 5 day rescission period. Unfortunately, these laws do not assist purchasers who have fallen victim to timeshare scam and didn´t become aware of the scam until after the 5 day cooling off period had already passed.
Timeshares in Mexico must follow the regulations for timeshares governed by the Mexican Secretary of Tourism. In order to operate, the timeshare organization must register with the National Registry of Tourism and comply with their requirements. Unfortunately, these timeshare laws and regulations have not changed since 1989, and do not account for the constantly transforming timeshare scams that the timeshare organizations implement to increase sales.
The requirements stipulate that the timeshare resort must comply with financial and safety regulations; however, they do not provide any rules of conduct for employees of the resort or consequences for mistreatment of clients and fraudulent sales practices. These timeshare laws may protect the physical safety of the timeshare employees and tourists while they are visiting the property, but do not enforce ethical business practices.
Five days to get out of a timeshare legally
The Mexican Consumer Protection Agency, PROFECO, has a 5 day right of rescission timeshare law. This timeshare law was put in place to protect consumers who make quick purchases without having time to read the entire contract. If you purchased a timeshare within the past 5 days, make sure that you read every clause of your timeshare contract very carefully. Unfortunately, it is common in the Mexican timeshare industry for the salespeople to make false promises of rental or resale income in order to close a sale. There will often be a clause contradicting this promise in the written contract.
If any promises that influenced your buying decision are not included in the contract, do not count them as legally binding as the only things that can be valid according to timeshare laws are those written in the signed agreement. If you find any discrepancies in your contract within the 5-day rescission period, act immediately! According to PROFECO, the consumer can cancel the timeshare agreement within 5 day period without penalty.
Clients who try to cancel within the 5 day rescission period can also experience a myriad of problems. Many timeshare scam companies will have consumers sign a cancellation waiver alledging they are purchasing the timeshare at a special “one-day only” price. The waiver normally states that the client agrees to purchase the timeshare, which is non-refundable.
If the client returns to rescind the contract, the timeshare salespeople shows them the signed waiver and are typically very aggressive when they advise the client that they have given up their rights to cancel. This practice is illegal according to Profeco’s timeshare law, as the right or rescission cannot be waived by the buyer, even if the buyer signed a document stating that they willingly give up this right. The consumer always has 5 business days to cancel the timeshare contract, beginning from the day after the contract was signed or delivered to the client.
At Mexican Timeshare Solutions, we assist clients to cancel their contracts within the 5-day rescission period established by Mexican timeshare law. We can ensure the timeshare contract will be cancelled properly and the client receives a refund without going through the emotional stress of dealing with the aggressive timeshare scam companies.
Cancelling after five days to get out of a timeshare legally
Many timeshare owners do not realize that they have been scammed within the 5 day rescission period. Timeshare resorts often offer promises of rentals or resales within a 90 – 120 day period. Typically, at the end of the 90-120 day period, the timeshare resort (or outside rental/resale agency) defaults on their promise. Unfortunately, this is after the 5 day rescission period, and cancelling the timeshare contract becomes much more difficult. The contracts are ambiguously worded to ensure that the resort’s and rental agency’s interests are protected. There are no specific timeshare laws to protect consumers who have signed written contracts that do not include their verbal promises. Without evidence, such as videos or scribed notes or the verbal promises, it is very difficult for victims of timeshare scam to successfully prosecute timeshare companies.
If you find yourself in this situation where the timeshare laws are not on your side, do not despair as there are options. Contact us at Mexican Timeshare Solutions and our professional staff will negotiate a swift resolution to your problem and help you to get out of your timeshare legally as fast as possible.
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