Timeshare owners need not fret anymore as Timeshare cancellation is possible and perfectly legal if done within a reasonable period of time as per laws of the state, or if done within the cancellation period as specified in the Timeshare contract that has been signed between the Timeshare owner and the Timeshare developer.
The need to do a Timeshare cancellation arises in those instances where a Timeshare owner has signed a Timeshare contract and later realizes that the contract is not favorable or has terms which might be detrimental, or otherwise has second thought on the purpose and benefits of the contract. All these scenarios where the Timeshare owner has regrets and wants to cancel the Timeshare contract are referred to as buyer’s remorse.
In cases where there is buyer’s remorse and the Timeshare owner wants to opt for Timeshare cancellation, then the process is as under:
- The Timeshare owner has to inform the Timeshare developer about the cancellation of the contract in writing.
- The details that need to be included in the letter of cancellation are as follows:
o The name of the Timeshare owner as it appears in the Timeshare Contract
o The address, phone number and email address of the Timeshare owner
o The name of the Timeshare developer
o The date of purchase of the Timeshare
o A statement that the contract is being rescinded.
- It is not mandatory to give the reasons for cancelling the Timeshare contract.
- The delivery of the cancellation letter can be either done by hand or by registered or certified mail.
- It is important that the cancellation is carried out within the cancellation period as mentioned in the Timeshare contract. In every Timeshare contract the period of cancellation is usually mentioned and in case it is not mentioned, then the Timeshare contract is wrong. In such instances the Timeshare owner must refer to the laws of the state with respect to cancellation of Timeshare contract.
In the instance of the period of cancellation as mentioned in the Timeshare contract having expired, it is still possible to cancel the Timeshare contract but in such instances it will entail the bringing of a lawsuit against the Timeshare developer. A Timeshare Attorney comes into picture at this point as the Timeshare Attorney has the experience and knowledge to help Timeshare owners understand their rights and is able to guide them through the legal process of filing a lawsuit against the Timeshare developer and claiming relief.
There are numerous Timeshare Attorneys that are experienced and have successfully won lawsuits for their clients against fraudulent Timeshare developers. Timeshare owners need to contact such Timeshare Attorneys. The process is very simple and worth the effort as Timeshare Attorneys do not charge an upfront fees for any consultancy work but rather offer free of cost services to Timeshare owners to enable them first evaluate a case and then determine the course of action that needs to be followed.