What is Timeshare Exit?

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After a point of time customers tend to grow out of their excitement for timeshares. This is when they begin looking for possible options for cancelling their timeshare contracts. But the possibility of timeshare exit is not an easy one. The timeshare companies often foresee the possibility of their clients leaving and ensure that they are prepared for the same. But getting out of a timeshare contract is not impossible. There are various ways of timeshare exit.

How to go about timeshare exit?

Canada offers various locations allowing people to invest in a number of Canada timeshare properties. The companies often try to show that timeshare exit is an impossible task but no contract comes without a legal cancellation provision. Various timeshare Canada properties are either mortgaged or deeded. So the customers tend to think that it cannot be cancelled. But one of the easiest ways of timeshare exit is to check if your timeshare contract has a grace period. This period is provided to allow the customer to terminate the contract within that duration. But customers often forget to read that part and don’t utilise it. If you have recently purchased your timeshare then you might still have a possibility of timeshare exit from your property. 

The safest possible option for timeshare exit

A basic knowledge indicates that if the contract is deeded  then the customer is the exclusive owner of the share and can sell their share as a way of timeshare exit. But, if the said contract is leased then the customer might have to pay their shares till the period of the lease expires. So, if you have exceeded your grace period then the safest means is to hire a qualified attorney. Attorneys know the legal boundations and the clauses that help a person exit their timeshare. They contact the company upfront to negotiate plausible ways to cancel the contract. The attorney can help a customer to legally terminate their contract if the customer feels that there has been some sort of misrepresentation or fraud. However, it is important to be careful of various agents who promise to help the customer with timeshare exit but often turn out to be fraudulent.

Stay cautious of scams

It is important for the customers to ensure that they do not pay any upfront fee to companies that offer to sell off their timeshares. A thorough research of the company is necessary before you pay any amount to them. It often happens in cases of timeshare exit that a company asks for a hefty amount and merely posts an advertisement. Another thing to note is that signing on the power of attorney does not release you of your ownership so, you will still own the property till the expiration of your contract. People involved in timeshare in Canada have often witnessed companies charging a hefty amount for selling their timeshare but do nothing to actually re-sell it. This is a practiced scam of fraudulent timeshare exit companies.

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Created on Nov 27th 2019 03:52. Viewed 292 times.


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