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Time shares can become a huge financial problem for those who have bought one, and don’t know what to do with it.
Should they sell it, donate it, rent it or cancel the contract? The truth is that the cancellation of the contract has always been the best and most viable solution to get out of a timeshare legally.
Therefore, it is very important to know the rules of timeshare cancellation to get the process done in a securely way.
Timeshare Cancellation
Timeshare cancellation, also known as timeshare rescission, timeshare relief or timeshare exit, is the legal right to rescind the purchase of a timeshare legally, sometimes with the possibility of getting all of your money back.
Most times, timeshare salespeople ask you during the sales presentation not to cancel the contract; however, they are only trying to convince you to give up your legal rights.
The truth is that you have the right to cancel your timeshare any time you want.
Rules for Timeshare Cancellation
The rules for timeshare cancellation are pretty much the same everywhere.
Every timeshare contract has a “rescission period” (also known as a “cooling-off period”).
If you decide to cancel the timeshare during that period, you should notify the resort about your decision by email or certified mail in order for it to be effective.
Rules of Timeshare Cancellation in Mexico:
In Mexico, you have five business days to cancel a timeshare contract. The cancellation should be communicated in writing.
Rules of Timeshare Cancellation in the US:
In the US, the cancellation period varies from state to state, and goes from 3 to 15 days.
The law that applies to the cancellation is the one from the state where the timeshare was purchased. The cancellation should also be communicated in writing.
Tips and Warnings
Before canceling a timeshare agreement, we suggest you follow the following advice:
-Tips-
- Read your contract very carefully and look for the cancellation clauses, to know your timeshare cancellation rights.
- Keep a copy of the receipt or the email as evidence to prove that you canceled on time, in case you did
- Do some internet research on the company that will assist you with the timeshare cancellation
-Warning-
- Never pay an upfront fee to any timeshare cancellation company to cancel the contract
What to do Next
Even though the cancellation of the contract is evidently the best solution to get rid of an unwanted timeshare, the process requires lots of time and negotiations with the resort, which means that it is not as simple as in other types of transactions, especially after the rescission period has expired.
At Mexican Timeshare Solutions, we assist timeshare purchasers who feel they were scammed or taken advantage of by fraudulent salespeople and deceptive sales practices.
MTS is a legitimate company, 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 MTS today for a free consultation, and get ready to cancel your timeshare now!
To receive more information about the rules of timeshare cancellation and how to cancel your timeshare, send a WhatsApp to +52 1 333 239 6589, fill out the contact form, or call us at +1 714 277 3662
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Have a 30 year ( Silver ) contract with Royal Holiday. Used every year 2004 thru 2019 with annual fees. 16 years. Also accelerated and paid annual fees for 14 of those years. Totals 30 years, so should be completed. Kept a record of every year.
However, they still show my end date of 2033. Not paying any more.
necesito cancelar un tiempo compartido adquirido recientemente en mexico
necesito cancelar un tiempo compartido adquirido recientemente en mexico
Muchas gracias por compartir , desgraciadamente actualmente los resorts estan super protegidos, ya que desde un principio te hacen firmar algo lo cual te impide querer cancelar en un futuro tu tiempo compartido , nosotros estamos pasando por esta experiencia y de verdad no es nada agradable.
Make the cancellation , no matter how, a timeshare is not a good investment and it value decrease so fast..you can get a timeshare even for free if you search on ebay , amazon, people dont want timeshares anymore! the resort doesnt care about our rights , dont get caught
Thanks for share, this is very useful for those people who dont have an idea about how timeshare contract works, for my experience timeshare stuff is a very tricky thing , you dont know if your timeshare is yours or not , so for own experience a timeshare is not a good option for your future.
I have never been in collections, I have a timeshare that I need to get rid off, I trying to sell but it may take some time before I find a buyer. I cant no longer afford the payments.
I need to know more of this, i was scammed last year by mayan palace resort, and now i want to get out , you know, the maintenance fees are insane, and all the things that told me on the timeshare presentation was true, god really i dont know what to do with my timeshare, pls help !
Muy acertado este articulo , aunque yo jamas vuelvo a meterme con algo de tiempos compartidos , de vd que son una molestia , todo empieza asistiendo a una presentacion de tiempo compartido , asi fue como yo cai y perdi mucho dinero con un resort en cancun , lo mejor es evitar los tiempos compartidos sin duda alguna.
I have to admit that one of my biggest mistakes was that i never read the full contract, so now im in the cancellation process, at this point i notice that exist many , but many things that i didnt know about my timeshare, so pleas as a recommendation read the full contract first , but if you want a better tip , avoid timeshares
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