Is It Possible To Legally Cancel A Timeshare Contract?


Yes, yes and yes! Please don’t let anyone tell you different.

Timeshare companies and realtors in the business will make it seem that the contracts cannot be canceled. Yes, it is a legally binding document and can be enforced in the court of law, but there are always ways to get out of it or settle in a favorable manner.

Let’s look at the various options you have in more detail –

1   Canceling within the cooling-off period – each contract (depending on the State laws) have a rescindment period. If you decide to cancel within this time limit, then it is a straightforward process. Write a formal letter and ensure that it is delivered to the company within the time period and in the manner prescribed in the contract.

2    Canceling after the rescindment period – legally canceling a timesharecontract after the cooling off period can end up becoming a long and complicated process. If you are lucky, then in some cases the resort owner will be open for negotiating a termination of the timeshare. However, in most cases, you will have to hire a timeshare liquidation company (preferably with lawyers) to help you formulate a legal plan.

Legally cancelling a timeshare contract is a sensible option if you are 100% sure you do not want to continue with the agreement, but if you are sitting on the fence about the decision then you may want to look options such as transferring or selling your timeshare ownership (this can also be handled by timeshare liquidation experts) or renting your timeshare to other vacationers.

Over 20 million households across the world own a timeshare, but despite the continuing popularity of the concept, scams are common! While you might not have been affected by dishonest practices, the stringent contracts of the timeshare industry make it tough to change your mind. In this world of online scams, it’s important always to ensure you have the right representation and expertise to get you out of timeshare contracts legally and safely.

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