How to Break a Timeshare Contract

timeshare contract

A timeshare contract is a real estate transaction that allows consumers to use a property, usually a condominium or a hotel, for a fixed number of weeks per year. Contracts come in both deeded and non-deeded forms. While a deeded contract offers greater legal protection, it can be difficult to break the agreement.

The key to successfully breaking a timeshare contract is to know your rights and understand the rescission period. If you want to use your right to rescind, you’ll have to provide your company with a written notice that describes your decision to cancel the contract. Once you’ve notified the company, you have a limited amount of time to do so. This period may vary depending on the state you reside in.

Most states allow a rescission period of three to 15 days. If you don’t rescind your contract within this period, you could lose your rights as an owner. You might also be subject to a cancellation fee. Before you begin the process of rescinding your contract, it’s important to consult your company’s rescission policy.

The main reason why it’s important to rescind your timeshare contract is because it might not be what you wanted to spend your money on. For example, you might have bought a deeded timeshare for a week per year, but after a couple years you realize that you’ll never be able to use it. In that case, you might be able to sell the property. Or, you might be able to transfer the timeshare to a friend or family member.

To break your timeshare contract, you’ll need to get everything in writing. This is especially true if you plan to resell your property. Some companies require that you provide them with written confirmation of the prices you are offering for sale. They may also need to confirm all the details of the property. It’s important to remember that you must do this in a language that you understand.

Timeshare contracts are a complicated purchase. Many people don’t realize their rights until too late. Salespeople will often try to convince you that it’s worth it. But if you don’t have the knowledge or experience to make a decision, it’s a good idea to work with an experienced timeshare exit company. These companies will help you with the necessary steps to escape your timeshare contract.

Even if you’ve gotten everything in writing, you might still have problems with your timeshare. Timeshare companies will typically have a recession period when you’ll be able to sell your timeshare without paying a penalty. However, you should still try to contact your resort or company to discuss your options.

One option you have is to buy another timeshare. While you may be able to sell your timeshare, you might not be able to find a buyer who will be willing to pay the full price. So, you might want to look for a timeshare rental instead. These rental programs are an excellent way to enjoy a timeshare without the commitment of a lifetime.

Scroll to Top

Submit for guide to cancel your timeshare

Share via
Copy link