The timeshare industry is considered controversial, with buyers often feeling they were scammed, duped, or given a hard sell. In recent years the timeshare industry has grown an especially awful reputation what with high priced units, faulty sales experiences, poor flexibility, and fraud cases.
In the United States, only 3% of American households own a timeshare, but 85% of those who purchased one have canceled their deals either on their own or with the help of timeshare attorneys. However, in order to effectively cancel your timeshare there are some things that you need to know in order to get what you deserve. So here we explain what you need to know when it comes to canceling your timeshare contract in the state of Florida.
How long do I have to cancel my timeshare contract?
The amount of time you have to cancel your timeshare contract depends on the state in which you live. Therefore, it’s important that you know how much time you have to cancel your contract before you overlook the taxes, fees, and timeshare assessments that come with the deal. In some states, you’re given three days to cancel. In others, you’re given 15.
For a timeshare cancellation in Florida, you have 10 days, calendar days, not business days. This is following the day on which you signed the on contract or the day on which you received the final timeshare documents to get a timeshare contract release.
However, whether you’re getting rid of a timeshare in Florida or in another state, you must inform the timeshare seller in writing that you’re canceling the contract. By notifying the seller in writing, you’re providing legal evidence that you’ve canceled the contract, which may come in handy later should the event be discussed with your timeshare attorneys.
Putting the cancellation in writing also legally ensures that the timeshare company must refund the money which you’ve spent on the timeshare. The timeshare company must do this within either five days after receiving your money or within 20 days of receiving the cancellation notice.
What do I include in the cancellation notification?
When canceling the timeshare contract in writing, it’s essential that you include the following information:
- Your name as you wrote it in the timeshare paperwork
- Your address, email address, and phone number
- The timeshare description
- The name of the timeshare company
- The date on which you bought the timeshare
- The statement describing your rescission of the contract
Check to be sure you’ve followed the cancellation instructions exactly, then deliver the letter within the cancellation period either by hand or via certified mail.
Timeshares are notoriously difficult to get out of, which is just one of the reasons why they have such a terrible reputation. If you’re struggling to get out of a timeshare, it may be in your best interest to contact Florida timeshare attorneys for a professional opinion. Contact My Timeshare Attorney today for a free consultation.