There are approximately 1,547 timeshare resorts throughout the nation, tempting Americans to “invest” their hard-earned money into a vacation home that ends up becoming more of a burden than a respite. As many people learn too late, timeshares are notoriously a lot easier to buy than they are to sell or cancel. Unfortunately, timeshare contracts don’t offer many protections for consumers. If you’ve realized you made a big mistake by purchasing a timeshare, there may be ways to pursue timeshare cancellation.
If you act quickly, you can take advantage of the timeshare rescission period
In the U.S., there are laws to protect you in the immediate aftermath of your timeshare purchase. If you realize right away that you want to learn how to rid of a timeshare, there are ways to do so. However, you have to make that decision before the contract becomes legally binding. Each state has its own maximum time limit in which it will allow a purchaser to cancel their timeshare. In some states, you may have only three days to a week to make this decision and file a complaint or write a cancellation letter. In some cases, you may have to provide evidence that a timeshare salesperson was aggressive or that you signed the contract under duress. To ensure you have everything you need included in your letter or filing and that it’s received within the time regulations for your state, you should contact a timeshare lawyer.
Knowing how to get rid of a timeshare after the grace period ends is trickier
If the rescission period has passed, don’t lose hope. In many cases, there are legal tactics that can help you cancel your timeshare. If you want to know how to get rid of a timeshare after the grace period has ended, you should examine your contract for signs of fraud. Your timeshare attorney can be of great assistance here. For example, if the timeshare company outright lied about your interest rates, fees, or how frequently you can use the property, this misrepresentation can be grounds to get out of the contract.
But in many cases, there’s nothing legally amiss in the timeshare contract. Although you may regret your purchase, there’s no lawful reason for the timeshare company to be held accountable. These companies know a lot of people experience buyers’ remorse after their timeshare purchase and therefore make it extremely hard to get in contact with them. This is really when you need an attorney’s assistance. Your attorney may be able to help cancel your timeshare agreement, even after the rescission period has ended. While it’s certainly more complicated, it can be done. But because this area of law is confusing, you should contact a qualified legal team.
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