A timeshare contract is treated, as a binding legal document, so most people think it can never be canceled.
Timeshare developers claim that such a contract cannot be rescinded. How do you then get out of the timeshare contract when you realize that it’s not a good investment after all?
Should you approach a timeshare cancellation company or work with timeshare lawyers?
The best course of action is to consult a timeshare lawyer that specializes in consumer protection laws.
Time is of the essence when canceling a contract, so it’s crucial to act quickly.
5 things you need to know about how to legally cancel a timeshare contract without using a timeshare exit company:
1. Yes—you can cancel.
The most important thing to know is that timeshare contract cancellation is possible.
There are consumer protection laws to give you some hope, and a timeshare attorney will be more than happy to walk you through them and provide the peace of mind you deserve.
Seek legal counsel using a timeshare cancellation attorney as early as you can.
2. There’s a rescission window.
Your timeshare cancellation lawyer will review your contract to check if the rescission period has ended. Buyers are generally allowed to cancel a timeshare contract within a few days after signing it and making the first payment.
States have rescission periods that will allow you to cancel a timeshare contract legally within 7-10 business days. You need to write a timeshare cancellation letter in that timeframe and send it via certified to the timeshare company.
Sadly, the rescission period is short, and most buyers are unable to cancel within that time frame.
A timeshare attorney would be able to help you understand how to cancel a timeshare contract if your rescission period expires.
3. You can still cancel after the rescission period.
Is it ever too late to get out of the contract? No.
If you look for solutions on how to legally cancel a timeshare contract without using a timeshare exit company, you’ll find that it’s still possible.
You merely have to seek timeshare lawyers for assistance.
If the timeshare company or salesperson used deceptive practices to coerce you to sign the contract, a timeshare attorney will help you prove what they did and help you cancel your timeshare contract legally and ethically.
4. Always good to work with lawyers for timeshare cancellation services.
Make sure you’re choosing a timeshare cancellation lawyer for assistance—a licensed and bar-admitted timeshare cancellation attorney with ethical standards.
You can use platforms and services that give you more information about them, and how to hire the right one.
5. Timeshare Exit Companies are not law firms and do not employ timeshare lawyers.
Timeshare Exit Companies offer timeshare cancellation services but are not lawyers.
Timeshare cancellation companies lure people to pay upfront fees with a "false guarantee" that your contract will be canceled in 36 months or your "money back."
Exit companies will also induce you to stop meeting your financial obligations to the timeshare developer, forcing your timeshare resort to cancel your ownership rights.
By definition, any person who defaults on a financial obligation to their lender will have their tangible asset repossessed, or their ownership canceled.
The financial and legal consequences that the timeshare developer will imply on the timeshare owner will not be protected by the timeshare exit company.
A licensed timeshare cancellation attorney that can protect your rights as a consumer is needed to cancel a timeshare contract legally and ethically, not a timeshare exit company.