Timeshare cancellation letter sample
Canceling my Timeshare
Owning a timeshare may seem like a pretty attractive idea initially, however, it can become a burden when maintenance costs outweigh the benefits or when you simply do not have time to use it anymore, or your vacation habits have changed. It may also be that the lack of flexibility in your contract is inconvenient for you as a client. Whatever the situation, it is understandable. However, the cancellation routes are often cumbersome.
For some people, it is very difficult to sell their timeshare. There are clients who are lucky enough to be able to directly contact their resort and cancel their timeshares, but many other clients in this extensive market do not run with such luck. For resorts, it is convenient to keep their customers paying maintenance fees every year, even if the owners are not actively using their timeshares.
Timeshare tricky sales business
The nature of the sale of timeshares is often tricky, which is why most states have enacted laws that allow the timeshare buyer to cancel a contract if they act within the stipulated period.
This period of time usually varies, depending on each contract and resort. Your contract must clearly state the number of days in which you are allowed to terminate that contract. If the contract lacks these specifications or is incorrect and you realized it too late, you can consult the law of your state corresponding to the timeshare contracts on Nolo’s Legal Research Center. On this website, you can find terminology that will help you get to know and understand your time-sharing contract in depth.
In addition, if you are looking for specific laws, it suggest to visit the Library of Congress's legal research site. As well, the site offers a guide on how to conduct an effective search, and tips to read a law correctly, among other tools that as a timeshare owner that seeks to cancel your contract will be useful.
Timeshare Cancellation Letter
To carry out a timeshare cancellation by means of a timeshare cancellation letter, first, it is necessary to be within the stipulated period of rescission. Most states allow timeshare owners to cancel their purchase after 5 days, a week or up to two weeks after the purchase.
And what does this mean? Well, as simple as it is possible to return the timeshare and at the same time, get a full refund. By law, timeshare developers are required to clearly explain how it is possible to rescind the purchase within the documents you received when you became the owner of the timeshare. The process, if the instructions are fully provided by the resort, is not usually complicated. It is a matter of following the instructions provided in the documents of your timeshare contract.
Your contract, as well as it must specify the manner in which you must deliver the cancellation letter for the timeshare, must stipulate the means by which it must be delivered. Sometimes it is possible that you can (or must) hand-deliver the cancellation letter, and others, it is necessary to send the timeshare cancellation letter by registered mail or certified mail.
When canceling a timeshare contract in writing, it is necessary to include the following information:
- Your name, as it appears in the contract.
- General information, such as address number, telephone number and email.
- The name of the company, association or timeshare resort.
- The date in which the timeshare was acquired.
- A description of the timeshare.
- A statement that you are voluntary, rescinding the contract.
(In most cases, it is not necessary to indicate a reason why you are deciding to cancel your timeshare.)
Timeshare Cancellation Letter Example
Dear <<timeshare resort>>
I wish to exercise my right to rescind and cancel my timeshare purchase made on <<date>>. My owner number is <x> and my name is <x>.
<<addition of details related to the timeshare>>
There are two points that are of utmost importance when delivering these documents. You need to make sure of the following things:
- Follow the instructions exactly: If the resort indicated a specific way or order in which to write the cancellation letter or even better, a timeshare cancellation letter sample, make sure to follow the instructions.
- Deliver the letter within the cancellation period: even if it was written within the cancellation period, it is essential to deliver it within the stipulated period.
Only in this way is it possible to conduct a successful cancellation through a timeshare cancellation letter. If the correct information is not included, or the letter is delivered differently, outside the instructions stipulated in your contract, your cancellation may not be valid. If so, no refund will be made and you will remain stuck with your timeshare.
Timeshare Cancellation after five days
In timeshare contracts, the rescission period usually varies. However, in most contracts, after the first week or after five days there is not much to do if canceling by writing is intended. As mentioned before, unless the resort does not provide clear instructions for this process in the documents, or leaves out all the information, it is unlikely to get rid of your timeshare by a legal route.
However, there are still some options left.
Resale your timeshare
You as an owner, can resort to the online timeshare resale market. There are several sites that either free or through membership, offer to register on their pages and through this, various options and tools to resell your timeshare. Websites as Tug (Timeshare Users Group), RedWeek, Weeks4Sale, My Resorts Network and even ebay or Craigslist, give you this option. The timeshare resale market is a way to go.
Rent your timeshare
The timeshare rental market can be an option in case it is impossible to cancel or resell your timeshare for any circumstance. This can be a way to solve the financial burden that comes with annual fees. In this case, you have to be very careful when negotiating, since, in this area, there may be scammers who simply seek to make quick money and take advantage of your need. It is worth mentioning that the timeshare rental market can be quite competitive. There are already large amounts of unwanted timeshares in the market, therefore, sometimes it is more difficult to close a deal, however, not impossible. The Websites when you can do this are Tstoday, Myresortnetwork, among others.
Put your timeshare in other hands
There are many relief and redemption companies that claim to get rid of your timeshare. However, these tend to work through exclusive associations and tourist resorts. They tend to demand a high rate and there is certainly no way to be sure that the company will be able to succeed before paying. In addition to this, they may not respond to promptness and be delinquent. Many of these companies tend to come and go in the market, so there is a risk that their service evaporates before the contract ends. Even so, there are sites that claim to be different from the rest. Some such as Timeshare Exit Team, Shappire Timeshare Cancellation, Resort Release, US Consumer Attorneys, Lonestar Transfer are just some examples. Click here to see a review in detail of some sites that are dedicated to this business, courtesy of Timeshare Exit Company Reviews.
Hiring an attorney
Some timeshare owners may feel overwhelmed by the obligation of their contract that they decide not to complicate reselling or renting and want a definitive route, such as the legal route. If successful, this option becomes viable and for many people, the only way to obtain permanent and lasting relief. If you are considering taking this option, it is necessary that as a timeshare owner you should always contact the resort company first, in order to negotiate a contract release before resorting to legal process. However, this option also carries its pros and cons. On the one hand, a lawyer has the professional obligation to represent his clients and not be subject to the financial influence of the developers of the resort, as well as to companies selling or reselling. Also, a lawyer can review in detail and if necessary, dispute contractual clauses, initiate litigation, among other options that may benefit you. The damaging side of this option is clear, the amounts of money and time will take you to spend this whole process. Firms such as Finn Law Group, Timeshare Attorneys and The Abrams Firm promise you definitive results.
Whichever option you choose, you need to always to meditate about what is the best-suited option to your needs and those of your pocket. Evaluate all the options carefully, research in different places and always keep in mind that only by persevering in the face of adversity, good results will be obtained.