Category Archives: Timeshare

Can I Cancel a Timeshare?

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A timeshare seems like a good investment at the time and those who sell them are banking on you being excited enough to sign on the dotted line right then and there. Once the excitement is over and you begin thinking things over, you may doubt yourself and the timeshare and wonder if you can cancel it. If you ask the timeshare company, they’ll quickly tell you that timeshare termination is not allowed. And while it is true that a timeshare contract is a legal, binding document, what is not true is that you cannot cancel the contract. There are many reasons why a contact may need to be terminated and some of them are allowed. When you can you cancel a timeshare?

The right of rescission is one reason why a timeshare cancellation is allowed. It is important that you are aware of this period because it is the first 24 hours of the signing of the contract only. This is a cooling off period from the time of initial purchase because the law understands that it is so easy to get caught up in fast talkers. If you cancel the contract within the right of rescission period, you can get a refund of any money paid and be free of future obligations.

There are other ways that you can terminate the timeshare and not face any penalties for doing so. You can transfer the timeshare to another party or sell it to another person to get it out of your hair, of course. Sometimes, however, finding someone that is interested in the timeshare is not as easy as what it would seem, so definitely put in time to find someone if this is something that is of interest to you.

Category: Timeshare