Timeshare owners often want to get out of their existing timeshare contract due to different reasons like rising fees of timeshare maintenance, changes in personal circumstance or if they cannot travel due to health issues etc. Trying to get rid of it can save your money however, you need to know different legal aspects to follow the right way to cancel or just get out of your existing contract.
First, check out the contract properly
Most of the timeshare contract comes with a retraction or recession period. During that time, you can cancel the contract without any question or troubles. But the problem is that the cooling-off period of the contract is very short and you need to meet a few necessary requirements within those few days. So, to get out of the contract, you need to read all the clauses of the contract first. You can check it with your state attorney and they can help you to understand the recession terms. You can get it done with an annual contract and if your purchase of the timeshare is very recent, it will be easier for you.
But for proper cancellation, you will require written notice. So, write a proper letter to the timeshare company and send it with a sign with extra protection.
Check if the company buys the timeshare
When you want to get rid of the timeshare, ask your company whether they buy it. Sometimes they buy it back but you cannot expect to get the full price for the timeshare. Maybe you will don’t get the desired money, but it is a simple way to get rid of the timeshare. You can ask the company if they take it for free. It is a great loss of money but can save your money from the huge maintenance fees. If you don’t want the timeshare anymore, you can try this method too. Some companies take that back.
Sell the timeshare
To get rid of the timeshare, you can sell it to others. You can get a good amount of money also by selling it. You can put advertisements to sell it or can contact the companies that deal with timeshare selling or like that. They have good experience in selling old timeshare. They charge a certain fee but you don’t need to worry about the entire selling process.
Give to someone else
Selling your timeshare is not an easy process. If have already tried but failed eventually and looking for the way how to get out of a timeshare contract? You can give it away. There is no chance of getting money in this scenario but you will don’t need to pay the annual fees then.
Go for fee based service
The best and simplest way to get rid of the timeshare contract is to utilize the fee service. This means you need to take off all the billings and maintenance fees from your own shoulder. To take off your name from the contract, you can deal with a timeshare company that can give you the best exit solution and comes up with great stellar rating even with BBB or Better Business Bureau.