Exiting A Timeshare Contract

Timeshares are preferred as they offer larger accommodations and more in-room amenities than hotel rooms and because shares can be exchanged for accommodations at other resorts around the world. However, timeshares are often the result of high-pressure sales tactics and re-sold at a loss. Plus, they come with annual maintenance fees that increases each year whether you use the timeshare or not. This why cancel my timeshare contract requests are on the rise. The process of how to cancel a timeshare contract is cumbersome and involves legalities that laymen are not always aware of.

Reasons to cancel timeshare contract

Timeshares are not the best of investments and this is evidenced by the number of cancel my timeshare contract requests and how to cancel a timeshare contract queries that the service providers offering cancellation of timeshares receive. Cancellation of timeshare is requested for a host of reasons including having purchased due to pressure or a grueling sales pitch without having time to do the necessary research, availability of the same timeshare in the resale market for a far lesser rate, the realization that the purchase is too great a financial commitment or even timeshare fraud or misrepresentation.

Know the deed, property and laws

A lack of knowledge as to the timeshare deed, the property and laws of the land is the major reason behind most of the cancel my timeshare contract requests. Cheaper options are always available in the re-sale market and therefore timeshare sellers lure customers with perks. People fall for these antics because they do not check whether these perks recoup the money that would be saved if the former option is preferred. It always helps to know the laws relating to timeshare deeds before enquiring as to how to cancel a timeshare contract. Timeshare sales in US allows you to hold the property in perpetuity whereas sales outside the US usually only involve right to use and not ownership rights.

Right of refusal on timeshare contracts

The increasing number of cancel my timeshare contract requests and how to cancel a timeshare contract queries and reported cases of abuse on timeshare sales and re-sales have led to inclusion of ‘opt-out’ clauses in most timeshare contracts. This clause gives the buyer a window period, within which he/she may rescind the sale and stipulates a time period within which the seller must refund the buyer as well.