All Interesting Facts About Canceling a Timeshare Contract
Updated: May 4, 2022
If your timeshare company somehow made you think that your timeshare contract cannot be canceled, here’s some news: They’re lying.
Many timeshare companies make it seem like you can never get out of the contract. But the truth is, you have the legal right to get out of your obligations associated with the property. It’s possible to free yourself from the financial burden of a timeshare. But where do you begin? Start by talking to a credible timeshare attorney.
Below are some facts and answers to frequently asked questions about canceling a timeshare contract.
Can a timeshare attorney near me cancel my contract?
Yes. They will use legal ways to do this. To ‘cancel’ a timeshare contract means ceasing all responsibilities and obligations to the property by ending its validity and effectiveness. A timeshare attorney can clearly explain what cancellation does and how it applies to your circumstances.
Is cancellation the same as termination?
No. They’re different from each other. Timeshare ‘termination’ happens; when one or both parties end the contract based on a provision in it, not necessarily because of a breach.
Is there a grace period for canceling a timeshare contract?
Every timeshare contract; is covered by a cooling-off period, grace period, or rescission period that lets you cancel without any issues. The period varies per state. For instance, if you purchased your timeshare in Florida, you have 10 days to cancel it, from the day you got the last of all essential documents or signed the contract, whichever occurs later.
But just because the grace period has passed doesn’t mean you can no longer cancel the contract. You can still walk away from it with the help of a timeshare lawyer.
What can I do to cancel a timeshare contract?
A seasoned timeshare attorney will review your particular circumstances and advise you on how to cancel the contract. Be prepared with all relevant information when you see a lawyer. This includes the contract itself, the name of the timeshare company, the timeshare’s description, the date of purchase, etc.
Should I find a timeshare attorney near me for more details?
Yes. Only a handful of bar-admitted attorneys specialize in timeshare and consumer protection laws. So, you may need a referral from a timeshare educational platform to find one in your state. The only legal way to cancel your timeshare contract if the rescission period is over is through a lawyer.