How to get out of a timeshare is a question that many have pondered as the hoopla of the initial purchase of a timeshare has worn off and the reality of recurring maintenance payments and assessments has set in. Buying a timeshare seems like a great idea when you are on a vacation, but over time, life changes and we realize that we don’t want to go to the same place year after year. You may also discover that you aren’t eligible to vacation at other resorts within the network, a feature that’s often advertised in the timeshare sales pitch. In essence, the allure of owning a timeshare is gone.
When you search the term “how to get out of a timeshare,” the answers vary widely and you’ll find many user groups that say that your options are limited. This is not exactly true. While it can be difficult to get out of your timeshare, you do have options. Below we will show you how to get rid of a timeshare.
How to Get Out of a Timeshare
A primary option is to simply sell the timeshare. Avoid companies that request an upfront fee to sell your unit, these tend to be a scam. Instead, work with a realtor or post on sites like eBay or RedWeek.
Try a Timeshare Buyback Program
Certain resorts will back your unit under specific circumstances. This may be an option to consider if you aren’t having any luck selling your timeshare. Be forewarned, there’s typically a fee involved with this particular option.
How to Cancel a Timeshare
Timeshare resorts and the user groups they fund will tell you that it’s nearly impossible to cancel your timeshare contract. While it’s a legally binding document, there are ways to cancel it. In the state of Florida, you have 10 days from the execution of your timeshare contract to cancel it. If you missed this time period, contact a timeshare attorney as soon as possible. A timeshare attorney can contact the timeshare company on your behalf and launch a formal request to cancel your contract. They can also represent you in litigation against the resort. Often, timeshare resorts use specific tactics to hide critical details of a contract that may affect your decision to purchase a unit. The timeshare lawyers at MyTimeshare Attorney will work to discover those tactics and represent your best interest.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.