A timeshare contract is a type of legal agreement that gives you ownership rights to a property, such as a resort or holiday house. You can use this property for a certain number of days each year, and you’ll pay fees to cover maintenance and utilities. This may be an expensive commitment, so if you decide to cancel your timeshare, it’s important to know what your options are.
Timeshare contracts can be deeded or non-deeded. A deeded timeshare contract resembles the scheme of purchasing a property or a home, while a non-deeded timeshare contract is similar to the lease scheme.
Both are subject to a number of rules, including an initial minimum cooling off period before you can withdraw from the contract and an obligation for traders to provide you with information about your rights. If you decide to exercise your right of withdrawal, you will need to write to the timeshare company within a set number of days from the date you signed the contract.
In order to make sure that you get out of your timeshare contract legally, it is important to read all of the documents and paperwork that you received when you purchased the contract. This is especially important if you are trying to get out of your contract before the timeshare rescission period expires.
The timeshare contract rescind period is typically given to you by the state where you live, so be sure to act quickly and send in your letter to cancel it before that period ends. The faster you do this, the more likely you are to be successful.
Once you’ve sent the letter in, you’ll need to keep a copy of it and keep the certified mail receipt that you receive. It’s also a good idea to have your letter signed and dated, and to put it in a safe place for future reference.
If you want to cancel your timeshare contract, it is a good idea to work with experienced professionals. This is because they can often find a way to help you out of your contract even if the rescission period has already expired.
Some timeshare companies will give you an additional amount of time to reconsider your decision. This is often called a “time out” clause and can give you up to six months to consider your options before you have to pay back the money that you’ve paid for your timeshare.
It’s important to note that you should always be aware of the costs involved in cancelling your timeshare contract, so it’s a good idea to shop around for a company that can offer you an accurate quote for what it will cost you to terminate your agreement. This will ensure that you aren’t surprised by any unexpected costs or surprises down the road when you’re trying to get out of your timeshare contract.
Getting rid of your timeshare isn’t easy, but it can be done with the right assistance. EZ Exit Now has expert team members who can walk you through the process, so be sure to reach out to us today!