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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 secure 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 of 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 to 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 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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How to rescind a timeshare contract?
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I spoke with a co-worker and he told me that he purchased a used timeshare from a friend and he pays minimal yearly fees to be able to swap his week timeshare essentially anywhere he'd like to. I believe he paid approximately $1,000 for his timeshare and has saved tons of money on hotels while using his timeshare and that most of the places he has stayed are much bigger and nicer than most hotels. Is this something that's a reality for someone who wants an inexpensive getaway? If so where do I go to find something like that?
you make it sounds easy, but it's not, they'll not let you cancel ever!!!!
Muchas gracias por los consejos, pero creo que ellos saben arreglarselas muy bien para aun asi estafar a las personas. Yo compre un tiempo compartido y quise cancelarlo antes de mis 5 dias, pero me dijeron que ya no podia cancelarlo. Busque por todos los medios deshacerme de el pero me fue inutil.
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