Do Yourself a Favor -- Exit Your Timeshare

by Legal S. Real Estate Attorneys in CA and NV

One of the most frequently asked questions when it comes to timeshare ownership is, "how do I get out of my timeshare?" This is because timeshares are not a smart investment.

More often than not, vacation enthusiasts end up buying timeshares by surrendering to the sales tactics of the resort developers shady sales reps and get emotionally hyped up with the idea of owning a vacation unit without looking into the many disadvantages that goes with it. (hint: FEES, FEES, FEES)

It is important to be aware of the legal ways in which to exit an unwanted timeshares and avoid the numerous scams that are flooding the vacation market today. Well-known timeshare attorneys provide much needed legal tools to fight the powerful resort companies that continually coerce and con unsuspecting travelers into buying overpriced timeshare memberships.

What Exactly Should I Do with my Timeshare?

Before one decides what to do with a timeshare membership, and one of the many ways in which to get rid of timeshares, it is important to understand what exactly timeshares are. Timeshares are essentially properties that can be owned for certain periods of time and at the desired resort locations that are part of the resort's network. A timeshare unit is "owned" by different people during different time slots in the year.

This vacation concept is aimed at those who like to experience a vacation home without a heavy financial cost. The process to cancel a timeshare depends upon the type of timeshare, the resort developer company in question, and deed that conveys ownership for dates or a duration of time as specified in the timeshare contract.

Why do Timeshare Owners Want to Cancel?

One of the major reasons why people ask a timeshare lawyer about "how to cancel timeshare" and get rid of timeshares is because of the low resale value of timeshare units on the secondary resale market. Despite the fact that typical real estate properties are assets that are relatively stable and increase in value over time, timeshares are an exception to that, due to the huge depreciation in value of the timeshare properties. Right after becoming a timeshare member, the timeshare ends up being an extremely costly experience for owners who end up having to pay hard-earned money for maintenance and usage fees.

How to Cancel a Timeshare?

The question of how to cancel timeshare can be answered by taking advantage of the rescission period in accordance with the contract and by following the law. First, one can easily exit a timeshare if it is during the exit window, which is the period of days after the purchase during which one can cancel without much hassle. This method results in the largest number of cancellations of timeshares. Second, one can cancel or get rid of timeshare ownership in accordance with the timeshare deed that conveyed ownership in the first place.

Generally, timeshare deeds come with prescribed procedures to be followed in order to cancel timeshare ownership. All one has to do is follow the procedures so prescribed. This is applicable when one chooses to get rid of timeshare ownership after the period of exit has expired or in cases where such an exit window is not provided by the deed.

Finally, in cases where the timeshare deed does not specify procedures to be followed in canceling timeshare ownership, one must resort to legal processes established by general contract and timeshare laws. It should be noted that the procedure established to exit timeshares is specific to each state. Contact your local timeshare exit attorney for more information.