What is Timeshare Cancellation?

by Legal S. Real Estate Attorneys in CA and NV

After a certain amount of time using a timeshare membership, timeshare owners inevitably start to experience a decrease in their excitement for timeshare ownership. This is when they start searching for possible solutions for terminating their timeshare contracts. However, the possibility of timeshare cancellation is not a quick or easy one.

The timeshare developers are very crafty as they can predict the possibility of their members wanting to get out, and make sure that they are prepared for the fighting their efforts to do so. But getting out of a timeshare contract is not impossible. There are various methods of timeshare exit according to prominent timeshare attorneys and timeshare lawyers.

How to go about timeshare cancellation?

The United States has timeshare law firms that offer various locations that provide for timeshare owners to divest in a number timeshare properties. The timeshare resort companies often try to claim that timeshare cancellation is impossible to accomplish, but in reality no contract comes without a legal termination provision. Various timeshare resort developers sell memberships that are either mortgaged or deeded. So the owners are inclined to infer that the contract cannot be terminated.

But one of the fastest methods to cancel the of timeshare contract is to see if your membership contract has a rescission or cooling off period. This time frame is provided to allow vacation consumers to exit the contract within that number of days after signing on the dotted line. Alas, many people often forget to analyze that part of the contract and don’t take advantage of it. If you have recently bought a timeshare then you might still have a option of cancelling a timeshare contract.

The fastest possible method to cancel a timeshare

Common sense dictates that if a timeshare contract is deeded then the consumer is the exclusive owner of the timeshare and is therefore able to rent or sell their share as the way to get out from under the obligations. However, if the timeshare contract is simply leased then a timeshare owner will most likely have to continue paying on their shares until the period of the mortgage expires. If a timeshare owners goes beyond the cooling off period then the quickest way to get rid of the timeshare is to hire a qualified timeshare attorney. Attorneys know the legal foundations of timeshare and contract law that assists a person exit their timeshare.

When a timeshare owners attempts to contact the resort company themselves, and ask how to negotiate a amicable agreement that releases them from the timeshare membership, the resort representatives almost always tell them that it is not possible to cancel the contract. A good timeshare attorney can help a owner to legally cancel their contract if the lawyer feels that there has been instances of misrepresentation, fraud or breach. However, it is critical to be wary of the various firms who promise to facilitate the release of the timeshare, but often turn out to be fraudulent or, at very least, ineffective.

Be aware of timeshare reselling scams

Timeshare owners need to be very cautious of resale listing companies that try to lure customers to with an offer to sell off their timeshare memberships. A comprehensive vetting of the company is necessary before giving up any payment to them. Invariably, in the case of timeshare exit, that a resale company asks for a huge upfront amount of money and then simply lists an advertisement on their website.

A recent owner reported:

"Early in 2018, we brought timeshare with Diamond Resorts. We paid off the mortgage. Enjoyed family vacations for a little while. In early 2000's while vacationing at the Las Vegas timeshare, got us to attend a meeting about more resort locations. We learned that it was a Diamond Resorts Sales meeting and was persuaded to upgrade and sign away our paid deed.

Before we could go to a new vacation, we found out after receiving a letter from Diamond Resorts Intl instructing my wife and I to sent our payments to them. We did. After a few years, I got sick. I didn't know that I could get relief until this year! Want out of contract: lack of use, increasing maintenance fees, LIES!!! Looking for an attorney firm to work closely on transfers and mortgage relief of timeshares. We need legal help. "

Another item of note is that signing a the power of attorney does not relieve you of your timeshare membership, so a prudent owner will want to sit down with his lawyer and go over all the details of owning the property till the expiration of your contract. People involved with the developer often try to mislead timeshare owners, so please be aware of this as well.

Conclusions

Whatever ones does, make sure that you do not get involved with a company that charges a big upfront fee for selling their timeshare, but do not succeed to actually rent or sell the unit. This is a well-known and often practiced technique of misleading timeshare relief companies.