It’s true that a timeshare contract is a legally binding document but it’s not true that it can’t be canceled. Timeshare contracts are canceled for a variety of reasons – read on to learn those reasons and how to achieve the best outcomes.
If you ask this question – ‘How do I cancel my timeshare contract ’ to the management company, chances are you’ll be told that the contract is non-cancelled. It’s true that a timeshare contract is a legally binding document but it’s not true that it can’t be cancelled. Timeshare contracts are cancelled for a variety of reasons – read on to learn those reasons and how to achieve best outcomes.
Rescission Period for New Purchase
Canceling a timeshare contract is easier for new purchases. This is because most states in the US have rescission periods during which buyers can cancel the timeshare agreement and get back their deposits. Rescission periods range from three to fifteen days after purchase, so you have to be quick in making a decision and officially communicate your desire to the management company in the proper manner, as stated in the timeshare contract.
How to Legally Cancel a Timeshare Contract
There’s no need to feel disheartened thinking ‘I can’t cancel my timeshare contract because the rescission period has passed.’ Attorneys specializing in timeshare litigation have come to the rescue of timeshare owners who have been subjected to fraudulent or deceptive sales tactics used by timeshare companies to lure prospective buyers. Fraudulent or deceptive conduct may include false promises that a timeshare would increase in value over time or that the owner would be free to exchange, transfer or sell it.
Take Assistance of Timeshare Exit Company
If you’ve been subjected to manipulative sales tactics, you may have a solution to the question ‘How to legally cancel a timeshare contract.’ It’s unlikely the average consumer will have expert legal knowledge to handle the situation. The best thing to do is approach a timeshare exit company having expert and experienced attorneys. The threat of litigation is enough for many timeshare companies to release timeshare owners from their financial and contractual obligations.
Resale and Rentals as Alternative Options
Legal recourse is the best solution if you’ve been subjected to timeshare fraud, coercion or deception and you’re looking to cancel a timeshare contract permanently and effectively. Alternative solutions to recover a part of the money include resale or renting. A resale transaction can go wrong when the selling company asks for an upfront fee but refuses to pay when the transaction doesn’t come through. With rentals, the problem is that there is a glut of timeshare rentals in the market and even if you do get an interested party, you will have to pay additional fees, commissions etc.
Transfer Timeshare Ownership
Another alternative to cancelling a timeshare agreement is transferring ownership to someone else. The risk here is that, without specific contract clauses, the new owner may default on future maintenance fees and the financial burden may fall back on the original owner. To avoid such risks, it’s best to partner a reliable timeshare exit company offering a complete range of solutions and having expertise to ensure satisfactory outcomes. Their services come with a cost but a one-time expense can replace recurring annual dues and fees.
Put these valuable insights about how to cancel a timeshare contract to good use. Gather your documents and get in touch with a trusted timeshare exit company!
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