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Cancelling a Timeshare: Your Legal Rights Explained

08/05/2020

canceling a timeshare

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If you’re looking into canceling a timeshare, there are some things you need to know beforehand. Without knowing the facts that were about to share, you could find yourself in hot water.

To avoid any issues when attempting to sell your timeshare, continue reading the information you’ve provided below. Trust us, you’re going to be thankful that you did.

You Need Legal Help

When it comes to how to cancel a timeshare, one of the first things that you need to know is that it will need to be done legally with the help of a trusted attorney. The way that it works is your legal representation will get all of the necessary documents from you.

Once they ‘ve received all documentation, then they will move forward with canceling the timeshare. In some cases, you may seek to use the services provided by a timeshare exit company, and there’s nothing wrong with that.

However, we recommend that the attorney the exit company uses is reputable and will explain everything that they plan to do to ensure the cancellation of your timeshare. Taking the legal route will cut all ties that you’ve got with the timeshare property and ensure that nothing comes up in the future that you’ll have to deal with.

Don’t Get Scammed

One of the largest problems people face when it comes to canceling a timeshare is getting scammed. When you find a timeshare exit company, they will promise you that you won’t have to deal with the timeshare anymore only to not cancel the timeshare in the end.

Timeshare owners find themselves with bills in the future after thinking that the timeshare was canceled, and that is not something that you want to deal with. This is why it’s recommended that you do your research into the company before working with an exit company.

This means asking for references or reviews that you can check, ensuring the company is reliable and provides legitimate business. It will also help if you ask close family members and friends if they’ve ever worked with the company or if they know someone who has worked with it in the past.

Don’t Fall For Deals

Some timeshare exit companies slick talkers, but you’ll also need to look out for the timeshare sellers who will do anything to keep you as a client. Once they find out that you’re trying to cancel your timeshare, they’ll do anything to get you not to cancel.

This could mean offering you a special discounted rate on your timeshare, or it could come in the form of incentives that will sound great. We urge you to not listen or fall for these salesperson tactics and continue with the cancellation process.

Trust us, you’ll be glad to have canceled your timeshare. Rather than staying in the contract and not receiving any of the bonuses that they dangled in front of your face.

Don’t Try to Do It By Yourself

When you begin the process of canceling your timeshare, you’ll find the process to be intense, which can make it quickly overwhelming to deal with. We stated earlier that you will need legal help to ensure the complete cancellation of your timeshare.

There will be confusing language in the documents that you’ll be given that can cause you to do the exact opposite of canceling your timeshare. When you find someone knowledgeable about timeshare cancellations, they’ll tell you what the terms in the document mean.

They will also be able to tell you what steps you need to take next to further the cancellation process along. Depending on the cancellation team that you choose they’ll be able to help you from beginning to end without facing extra challenges.

Move Quickly

Once make the decision to cancel your timeshare, you need to begin acting quickly. The reason for this depends on the state that you live in if you act quickly enough, you may be able to get out of your contract without facing any penalties.

If you choose to wait longer than the time given by your state, then you may find yourself facing penalties. You’ll also deal with other frustrations because time is no longer on your side.

Submit Cancellation Notice

One of the first things that you need to do is submit a timeshare cancellation letter. There are some key components that you need to out in your letter to ensure that you’ve covered all your bases.

The first thing that you will list is the date and the name that you used when signing your timeshare contract. Once that’s done, you then need to provide all your current contact information, including your address, email, and phone number.

Once you’ve done this next, you’ll list the timeshare company you purchased your timeshare through. Ensure that you use the correct name because some places change their names if they’ve undergone a recent management change.

We recommend describing the timeshare that you purchased in your letter and provide the date that you entered into your timeshare contract. Next, you’ll need to clearly detail that you’re going to cancel your timeshare.

You want to make this clear because you don’t want to leave any loopholes where the timeshare company can say that they didn’t know you were seeking to cancel your timeshare. You’ll then give a copy of the letter to the timeshare company and keep a copy for your records.

Canceling a Timeshare

When it comes to canceling a timeshare, all the factors that we provided above should be taken into consideration. Remember, use time to your advantage and the grace period to get out of your contract that’s provided by your state.

If you’re looking for a timeshare exit company, contact us here at Lonestar Transfer. We can guarantee that when the process is over, we’ll have helped you to unload your timeshare in now time.

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