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Get to know whose side the Law is. Sometimes, law is in the hands of very well protected Timeshare corporations. Learn your rights as a consumer so you can defend yourself against timeshare resorts that sell fraudulently and get out of a timeshare legally
Jurisdiction
All timeshares purchased fall under the jurisdiction of the state or country you purchased them in. In the case of Mexican timeshares, purchasers from foreign countries such as the USA or Canada must be very careful, since American or Canadian law does not protect them.
Timeshares purchased in Mexico fall under Mexican jurisdiction.
There are various timeshare laws and regulations in Mexico to give order to the timeshare industry; however, they are not very effective at preventing scams.
There are also consumer protection laws in Mexico that assist timeshare purchasers to cancel their timeshare contract within a 5-day rescission period.
Unfortunately, these laws do not assist purchasers who have fallen victim to a timeshare scam and didn't become aware of the scam until after the 5-day cooling-off period had already passed.
Timeshares in Mexico must follow the regulations for timeshares governed by the Mexican Secretary of Tourism.
In order to operate, the timeshare organization must register with the National Registry of Tourism and comply with their requirements.
Unfortunately, these timeshare laws and regulations have not changed since 1989, and do not account for the constantly transforming timeshare scams that the timeshare organizations implement to increase sales.
The requirements stipulate that the timeshare resort must comply with financial and safety regulations; however, they do not provide any rules of conduct for employees of the resort or consequences for mistreatment of clients and fraudulent sales practices.
These timeshare laws may protect the physical safety of the timeshare employees and tourists while they are visiting the property, but do not enforce ethical business practices.
How to get out of a timeshare legally within five days
The Mexican Consumer Protection Agency, PROFECO, has a 5-day right of rescission timeshare law. This timeshare law was put in place to protect consumers who make quick purchases without having time to read the entire contract.
If you purchased a timeshare within the past 5 days, make sure that you read every clause of your timeshare contract very carefully.
Unfortunately, it is common in the Mexican timeshare industry for the salespeople to make false promises of rental or resale income in order to close a sale.
There will often be a clause contradicting this promise in the written contract.
If any promises that influenced your buying decision are not included in the contract, do not count them as legally binding, as the only things that can be valid according to timeshare laws are those written in the signed agreement.
If you find any discrepancies in your contract within the 5-day rescission period, act immediately! According to PROFECO, the consumer can cancel the timeshare agreement within a 5-day period without penalty.
Clients who try to cancel within the 5-day rescission period can also experience a myriad of problems. Many timeshare scam companies will have consumers sign a cancellation waiver alleging they are purchasing the timeshare at a special “one-day only” price.
The waiver normally states that the client agrees to purchase the timeshare, which is non-refundable.
If the client returns to rescind the contract, the timeshare salespeople show them the signed waiver and are typically very aggressive when they advise the client that they have given up their rights to cancel.
This practice is illegal according to Profeco’s timeshare law, as the right of rescission cannot be waived by the buyer, even if the buyer signs a document stating that they willingly give up this right.
The consumer always has 5 business days to cancel the timeshare contract, beginning from the day after the contract was signed or delivered to the client.
At Mexican Timeshare Solutions, we assist clients in canceling their contracts within the 5-day rescission period established by Mexican timeshare law.
We can ensure the timeshare contract will be cancelled properly, and the client will receive a refund without going through the emotional stress of dealing with the aggressive timeshare scam companies.
Cancelling after five days to get out of a timeshare legally
Many timeshare owners do not realize that they have been scammed within the 5-day rescission period.
Timeshare resorts often offer promises of rentals or resales within a 90 to 120-day period.
Typically, at the end of the 90-120 day period, the timeshare resort (or outside rental/resale agency) defaults on their promise.
Unfortunately, this is after the 5-day rescission period, and canceling the timeshare contract becomes much more difficult. The contracts are ambiguously worded to ensure that the resort’s and rental agency’s interests are protected.
There are no specific timeshare laws to protect consumers who have signed written contracts that do not include their verbal promises.
Without evidence, such as videos, or scribe notes, or the verbal promises, it is very difficult for victims of timeshare scam to successfully prosecute timeshare companies.
If you find yourself in this situation where the timeshare laws are not on your side, do not despair, as there are options.
Contact us at Mexican Timeshare Solutions, and our professional staff will negotiate a swift resolution to your problem and help you get out of your timeshare legally as fast as possible.
To receive more information about how to get out of timeshare legally, send a WhatsApp to +52 333 239 6589, fill out the contact form, or call us at +1 714 277 3662
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Don't fall into the upfront fee scams.. All those companies will do is sell your timeshare online for $1 (and you can do that yourself for far less than $3,500!)..
Selling a timeshare can be a very frustrating experience, but if you just apply some good old fashioned common sense- you can find a way out!
First- determine if there is any resale value for what you own..
You do this by putting yourself in the place of a buyer. Search online to find ads for similar ownerships. Also, contact your resort to see if they have any recommendations for you (many associations offer exit strategies or broker recommendations to you). Look for a respected resale brokerage that has a history of working with your resort. MOST IMPORTANTLY- NEVER PAY AN UPFRONT FEE! Legitimate brokers will earn a commission at closing..
If the property has value, chances are you can list with a broker and they'll walk you through the entire process..
I learned how time shared work.. I have a friend who has times shared but I never understood how it has until now.
I also bought a TIMESHARE back in 2005. Everything they told us was a not true. And when we found out about the maintence fees it was to late, they told us in was in the contact. Now me and my brother are paying for something we can’t afford he is handicap and can’t work. I am in a part-time job and a single parent. How can i get help
There are many ways to get out of a timeshare, but they are not all equal. Some methods for getting out of your timeshare obligations can leave you with waste time and money on top of your timeshare ownership still intact. This is a list of a few ways in which you can get out of your timeshare contract, as well as a short description about their effectiveness and process. Out of all the possible methods for exiting your timeshare, using a service to get rid of your timeshare obligations once and for all is one of the best timeshare exit solutions available right now.
There are many ways to get out of a timeshare, but they are not all equal. Some methods for getting out of your timeshare obligations can leave you with waste time and money on top of your timeshare ownership still intact. This is a list of a few ways in which you can get out of your timeshare contract, as well as a short description about their effectiveness and process. Out of all the possible methods for exiting your timeshare, using a service to get rid of your timeshare obligations once and for all is one of the best timeshare exit solutions available right now.
I purchased a time-share with my boyfriend in 2005, putting both our names on the deed. Two months later, we split up on bad terms. He hasn't paid any of the $10,600 he owes; I've been the one making the mortgage installments. Financially, I know the legal process may not be worth it, but morally, I feel he needs to fulfill his end of the bargain. He's frequently tried to use the time-share, which is now in default due to my inability to pay. What do you suggest I do?
I purchased a time-share with my boyfriend in 2005, putting both our names on the deed. Two months later, we split up on bad terms. He hasn't paid any of the $10,600 he owes; I've been the one making the mortgage installments. Financially, I know the legal process may not be worth it, but morally, I feel he needs to fulfill his end of the bargain. He's frequently tried to use the time-share, which is now in default due to my inability to pay. What do you suggest I do?
I would stay away from timeshares all together…as mentioned in the article, not worth the risks. If you are asking basic questions like this, you need to do a lot more research before thinking about purchasing one.
I would stay away from timeshares all together…as mentioned in the article, not worth the risks. If you are asking basic questions like this, you need to do a lot more research before thinking about purchasing one.
I would stay away from timeshares all together…as mentioned in the article, not worth the risks. If you are asking basic questions like this, you need to do a lot more research before thinking about purchasing one.
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