Hello World! Welcome Friends! Owning a timeshare can be a great opportunity. However, it’s not for everyone. Some folks may be uncertain if a timeshare vacation will be right for them.
If you find yourself reconsidering your timeshare purchase and contemplating an exit strategy at the last minute, it’s essential to consult your timeshare calendar to determine if you’re still within the window of your right of rescission.
1. Your Time is Limited
Right of rescission isn’t something you can exercise long after you purchase a timeshare. In fact, there’s a certain period of time that you can cancel ownership before it’s a said and done deal.
The time in which you’re able to call off timeshare ownership will vary depending on the location of the resort. On average, you have 3 to 15 days to halt the process after signing the agreement.
In the event that you want to get out of a timeshare after said period, you may still be able to make it happen. However, it will take longer and be more complicated. But there are no guarantees, so act fast if you’re not set on timeshare ownership at this time.
2. You’ll Need to Write a Letter
A majority of timeshare companies require a formal, written letter of cancellation. This letter will explain your desire to put the agreement to an end, and it doesn’t necessarily have to say why.
It’s important to note that a timeshare cancellation letter must be written and sent in on time. If it doesn’t get delivered in time, then the cancellation may not be able to go through after all.
3. There are Several Pieces of Information You’ll Need
When writing a timeshare cancellation letter, there are several things you’ll need to include in it. Every state has its own set of information it requires.
Some of the most common information necessary to put in this letter include the purchaser’s name, date of purchase, the cost of the purchase, your contact information, and so on.
4. The Timeshare Company May Not Comply at First
While you have the right of rescission, the timeshare company may still give you a hard time. Timeshare companies may even go as far as to avoid bringing up your right of rescission, hoping you won’t exercise it. These companies might even make contacting them intentionally difficult, which can only delay the process of getting out of the timeshare.
5. There are Outside Companies Who Can Help You
Are you looking to get out of a timeshare as soon as possible? Is the timeshare company making it hard to cancel your contract? It’s time to get outside help.
Read How to Get Out of a Timeshare: Things You Need to Know for more information on getting out of a timeshare quickly.
Conclusion
Are you unsure if owning a timeshare is right? Or perhaps you aren’t certain if the right time is now. Either way, you will be able to exercise your right of rescission in the event that you want to get out of a timeshare ownership before it’s too late.
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[…] Timeshare Right of Rescission: 5 Key Takeaways […]