5 Things to Know About Getting Out of Your Timeshare

How to get rid of a timeshare

Someone offered you free tickets to a theme park in exchange for 90 minutes of your time. You sat for a sales pitch about timeshare sales and vacation properties, and the 90 minutes turned into hours. The timeshare contract seemed ok, and they assured you it would be fine to sell or transfer the property later if you didn?t want it. Or you figured you could just cancel it, and then forgot. Now you find getting out of a timeshare contract is hard, and you?re reading timeshare attorney reviews and typing ?cancel timeshare after rescission period? into your internet search box. Do you have any options?

  • Check if you?re within the grace period Before you start reading timeshare attorney reviews, see what the state laws are where you bought your timeshare and within your own state. You often have from between five and seven days from the time you signed or the time you received all the legal disclosures, whichever came later. If you?re still within this revocation or rescission period, put your cancellation in writing, have it witnessed by notary, and get it sent by certified mail before the grace period ends. Request a return receipt and follow up if you don?t receive it.
  • Check the contract for all the pertinent information on canceling. Here?s where it might pay off to look at timeshare attorney reviews and find some timeshare lawyers who specialize in reading these contracts and helping people understand them. Some contracts will let you cancel after a certain amount of time. Some contracts will specify that the timeshare developer may choose to simply end the contract if they buyer doesn?t keep paying the management fees, rather than take it to court and pay the fees. This could be risky, however, so never do this without consultation with a timeshare lawyer who can assess what the developer is likely to do.
  • Consult a timeshare attorney about whether the contract was breached. Getting rid of a timeshare might be possible if the other side has failed to live up to the contract in some way. Again, this is where you need to consult with timeshare attorneys about what precisely is promised and whether it?s worth trying to pressure the property management in this way.
  • Consider selling or transferring your timeshare property Sometimes selling a timeshare will be possible, and some management companies will be willing to try to resell on your behalf. Other listing companies may also help you to sell, but beware of scams. Never pay a fee in advance of sale. Some developers will also be willing to take the property back if they can be convinced that you are definitely financially unable to pay the management fees. Again, it?s best to have a lawyer on your side, so look through timeshare attorney reviews to find someone who will take a personal interest in your case and help you get rid of your timeshare legally and at minimal cost to you.
  • It may be necessary in the end to threaten litigation. If a management company simply refuses to cancel or terminate, and if they won?t allow you to sell or transfer the property, either, you may have no choice but to take them to court. Your attorney will be able to advise you on whether you can make a case or not, but oftentimes management companies make enough promises about the property before signing that a reasonable case can be made that the situation was misleading. Many times, property management companies would rather let you out of the contract at this point than risk being taken to court. Again, always have a lawyer on your side to make these sorts of decisions.

Timeshare property can be a wonderful and affordable way to have your own vacation place. They can also be scams designed to take advantage of people by hiding fees and cost increases until it?s too late. If you?re trying to figure out how to get rid of your timeshare, find an attorney who can help you do so legally and with a minimum of hassle.

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