Having a timeshare can be a tricky situation for some people. There are many that thoroughly enjoy having their timeshare and do not mind paying the annual fees. However, there are a high number of people that are not satisfied with the timeshare and are looking for a viable timeshare exit plan. While you may ultimately need a timeshare exit company or a timeshare attorney, you can attempt to handle the timeshare exit yourself first. Unfortunately, there are such a high number of people trying to get out of their timeshare that almost 47% of timeshare resorts are using travel agencies to fill the rooms in the resort.
Rescission Period
If you recently bought your timeshare, you have a rescission period. The rescission period is a period of time commonly considered as a cooling-off period. If you are still in this timeframe, you can cancel your timeshare contract. You can also get your money back. You have about three to 15 days to contact the resort and file a letter of rescission to cancel the timeshare.
Transfer Your Contract
As part of your timeshare exit plan, you can legally transfer your contract to another owner at the resort. If you know other people at your resort, you may be able to have them agree to take on your timeshare. Often, individuals that have timeshares often have friends and family they may want to join them while they are on vacation. If they take on your timeshare, they would be able to make that happen. If you do not know anyone, most likely, your resort has a FaceBook owner’s page where you can meet others with the same timeshare.
Use a Deedback Program
Another part of your timeshare exit plan could be using the deedback program. If you are no longer in your rescission period and you want to cancel your timeshare, you should attempt to contact your timeshare company. They may have an exit program. However, these programs are only for those that do not have any type of outstanding loan on their timeshare. If you use this as your timeshare exit plan, it may only take one phone call to give back your timeshare.
