Lesser Known Tips on How to Get Out of a Timeshare Legally

A timeshare contract may be legally binding, but that doesn’t mean you can’t cancel it. Rather than leaving it alone to incur fees, selling, or donating it, consider completely getting rid of it to save a lot of time and avoid the headaches associated with paying for a property you seldom or have never even used since you bought it. Here, we’ll give you some tips on how to get out of a timeshare legally, particularly the lesser-known tips so you can get started and save yourself from the further financial burden:

• There’s a rescission period – All timeshare contracts have a cancellation period, which should be stated in them. It will vary according to the state where you purchased the timeshare. For instance, if you got it in Florida, you have up to 10 days to work and cancel your contract after signing or receiving the last of the required documents. That’s why you need to act fast if you change your mind right after purchasing the property. 

• Follow what’s stated in the contract – Many resources are sharing how to get out of a timeshare legally, but don’t forget to look into your contract for instructions. A legal contract should indicate the manner of how you should cancel the timeshare legally, which is usually done by writing. Be sure to write the cancellation letter and deliver it in the manner stated on the contract, all within the rescission period. 

• Get help – Consultants specialize in helping consumers like you exit a timeshare legally. They offer resources and sound advice tailored to your unique situation, especially if you decide to cancel after the cancellation period. They can also walk you through the process of how to get out of a timeshare legally, even within the rescission period.

How to Exit Timeshare – Why Every Timeshare Holder Should Know This

Do you own a timeshare? It may have been a good idea at the time when it was first introduced to you, but you might eventually feel some buyer’s remorse down the line. Regret may occur when you realize that it is more expensive in the long run, especially with the upkeep, annual fees, and other expenses you probably did not expect. In that case, you may want to start finding out how to exit the timeshare and know how to do it properly and legally.

When you first hear about a timeshare, you can’t help but be convinced that you need it. A meeting to introduce you to the property and the perks of having your own vacation home shared with other owners could potentially push you into buying one right on the spot. The sales talk and the delicious food served during the meeting could easily distract you from the possible downsides of owning this type of property. It may have been a few days, weeks, or years since you purchased the property, but that does not mean you should stick with it. There are ways on how to exit a timeshare.

As a timeshare owner, it is your responsibility to know how to cancel the contract and free yourself from the obligation of paying for a property you seldom or have never used. It is important to know how to exit a timeshare in case you change your mind. Every timeshare contract will indicate a rescission period, which is also known as the cooling off period, the time when you can get out of your contract without any trouble. If you find yourself regretting the timeshare after signing the contract, act fast to exit in a timely manner. Rescission periods will vary per state. In Florida, you have until the 10th day from the time you got the last of the required documents or signed the contract.

You will also want to know how to exit a timeshare when the rescission period is over. In that case, consultants and advisers can walk you through the process and give recommendations based on your situation and requirements.