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A timeshare can turn into a big headache and a strain on the wallet. Learn more about timeshare cancellation and how to get out of a timeshare contract
The Timeshare industry is well known for being very vulnerable to scams; consequently, vacationers and timeshare owners should be aware of timeshare investments, phony offers to rent or resell timeshares, or practically anything that sounds too good to be true.
Timeshares are set up by many resorts to sell shared interests in their properties. In order to attract new customers, they frequently give great timeshare presentations where you can get attractive gifts such as free stays at the resort, free meals and discount coupons.
At the same time, they will try to sell you the right to use one of their properties during a certain period of the year.
There is nothing wrong with the whole concept of timeshares; the problem is when the sales tactics become high-pressure and fraudulent.
There are many people who attend timeshare presentations just for the freebies, but after 4 hours of pressure, they end up buying a timeshare.
Learn how to rescind a timeshare contract and the advantages of timeshare cancellation.
A Rescission Period
Before thinking about purchasing a timeshare, you should know and understand a few facts about timeshares: how timeshares work, that the resale value is much lower than the original price, that you will have to pay monthly or yearly maintenance fees, and your timeshare cancellation rights, among others.
After a timeshare is purchased, you usually have a rescission period to change your mind.
A rescission period, also known as a cooling-off period, refers to a certain time after a timeshare purchase is made where you have the right to cancel the contract agreement without any penalties, and you can also get your total deposit back.
In Mexico, you have five business days to cancel the contract, in the US, this period varies depending on the state where the purchase was made, which usually goes from 5 to 15 days.
How Do You Rescind a Timeshare Contract?
So you just got out of a timeshare presentation where you were impressed by the beautiful promises made by the salesmen.
Now you’re suspicious and wondering how to cancel a timeshare contract.
If you’re within the rescission period, follow the next steps to cancel your timeshare contract:
- Read your timeshare contract carefully and look for the cancellation clauses.
- Draw up a cancellation letter and send it to the resort via certified mail, or write an email explaining that you would like to cancel the contract. You don’t have to give a long-winded explanation of why you would like to cancel the contract. Keep the receipt as evidence that you cancelled on time. Visit our article, "Sample timeshare cancellation letter," to learn how to write the cancellation request.
- After the letter is sent, you should receive a refund of all the money you paid. If the timeshare resort refuses to do so, contact the government consumer protection agency of the country where you purchased the timeshare.
What Happens If The Rescission Period Has Expired?
Unfortunately, many people realized they’d been scammed after the rescission period expired.
Sometimes, timeshare owners don’t want their timeshare anymore because they’re not able to use it or keep paying the maintenance fees.
So, how do you rescind a timeshare contract after the rescission period has expired? Well, there are other possible solutions to getting out of a timeshare:
- Sell it: Selling a timeshare can be extremely difficult, almost impossible, even when the price will be much lower than the original purchase price.
- Rent it: It is very hard to find someone to rent out your vacation ownership, so this is not really an option. There are many timeshare rental companies that claim to rent your timeshare for a large upfront fee, but most of these companies end up being fraudulent.
- Donate it: There are very few organizations that accept deeded timeshare donations. Unfortunately, most charities will not take timeshares because they are not willing to pay the maintenance fees.
Getting rid of a timeshare is not easy, but it is not impossible either.
To read more about possible solutions, visit our article on the "Donate Timeshare Scam".
Just remember: NEVER pay a large upfront fee in an effort to get rid of your timeshare!
The Real Solution
Do not waste your time or your money. If you want to get rid of your timeshare properly and without further problems, the best solution is to cancel the contract.
Timeshare cancellation is the most effective and secure solution. When a contract is appropriately canceled, you won’t have any more strings attached to the resort.
If you, or someone you know, want to get rid of a timeshare you don’t want or use, contact Mexican Timeshare Solutions for a free consultation on your matter.
At MTS, our goal is to assist timeshare purchasers who feel they were scammed or taken advantage of by fraudulent salespeople and deceptive sales practices.
As specialists in the timeshare industry, we are committed to offering timeshare help in a fast, friendly and experienced service to clients.
Our associates have several years of experience in the timeshare industry and are successfully able to resolve timeshare scam cases in an ethical and professional manner.
Contact us today for a free consultation and get some final relief from your timeshare!
To receive more information about how to rescind a timeshare contract, send a WhatsApp message to +52 333 239 6589, fill out the contact form, or call us at +1 714 277 3662
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Cancel a timeshare: What are the advantages?
![Understanding and Exercising Your Timeshare Cancellation Rights in Mexico [2024]](/media/Article_106/Foto/mini/timeshare-cancellation-rights-474.jpg)
Hola qútero cancelar un tiempo compartido que compre en Orlando florida pero vivo en Dallas tx no tendrán sucursales aquí
Hola, me gustaría cancelar un tiempo compartido con Vacation Village, lo compre en Miami en el mes de agosto, me podrían ayudar?
Quiero cancelar mi tiempo compartido, el contrato dice que tengo hasta 5 días para cancelar y aún estoy en tiempo, oriéntenme por favor....
Hace unas semanas me ofrecieron una venta de semanas vacacionales en punta pacifico mazatltan mex., y agamos una parte y quedo pendiente otra que hay que liquidar, pero ahora ue estoy leyendo no se si es una estafa , la empresa se dice que es filial de odysey premier elite de USA y en mexico esta en Mazatlan.
porfavor si me puede enviar informacion si esta empresa existe o si no para ya no pagar el resto de dnero
gracias
Ayer compre el plan y quiero retractarme dentro de los 5 días, pero ellos me ofrecieron 30% en un almuerzo ayer mismo en el hotel donde lo compre y el contrato dice que tengo 5 dias para retravtarme solo si no he accedido a ningun beneficio. El descuento al almuerzo es un beneficio y ya no puedo retractarme?
Hola estoy pensando en cancelar un membresia de Royal Holiday pero me la estan cobrando a meses a mi tarjeta de credito no se si es posible la cancelacion, de principio la iba cancelar antes de los 5 dias despues de haberla adquirido fui a las oficinas y nos volvieron a convencer y nos dieron mas facilidades de pago, espero sea posible cancelarla definitivamente sin recibir alguna penalizacion, pero no se como funcione esto por que me estan cobrando a la tarjeta y por otro lado en el contrato no dice nada de alguna penalizacion, sin embargo como ya esta hecho el cargo en la tarjeta quiero ver que sucede con eso, en realidad apenas va la segunda mensualidad y un pago de incion que hice quisiera ver si me pueden dar ascesoria o bien seguir algun proceso si es neceario gracias.
Necesito terminar este martirio de tener Westgate Palace... Cancelarlo, donarlo.. Lo que sea pero no tenerlo más!!!! Ayuda por favor
En verdad es mas dificil de lo que creen, actualmente mi esposa y yo estamos en busca de la cancelacion , intentamos con el resort y por nada del mundo quieren ayudarnos en eso , hemos hablado con abogados y nos piden cuotas altas de anticipo , de verdad nose como fuimos tan ingenuos y compramos la membresia.
Soy de Perú, quiero cancelar mi contrato de tiempo compartido con westgate resort. Hoy me llego la carta donde me dicen que mi cuenta pasaría a una agencia de colección ajena a la compañía. Si me pueden ayudar por favor comuníquense conmigo.
Necesito ayuda para cancelar mi membresia del Club Westin Regina de Cancun. Yo vivo en Chile. Puede ser tambièn la opciòn de donar. Espero sus comenarios.
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