How to Get Out of a Timeshare
Review your timeshare contract agreement for cancellation terms., Research your state laws around contract cancellations., Check for language in the contract about personal liability of purchaser., Contact an attorney who specializes in contract law...
Step-by-Step Guide
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Step 1: Review your timeshare contract agreement for cancellation terms.
These terms are typically listed near the end of the contract in a section with a heading like, "cancellations," "severability," or "termination." Many timeshare contracts allow buyers to cancel within a short window of time after the initial purchase. , Even if your timeshare agreement doesn’t mention it, many states offer consumers a “cooling off” period, which allows them to cancel most contracts within a few days or weeks.
You can find information about your state's contract laws on your state's Department of Consumer Affairs website.
If you're having trouble deciphering your state's contract laws, you can contact your state's Office of the Attorney General for more assistance.
Alternatively, if there is a consumer rights nonprofit organization in your state, they may be able to assist you. , Most contracts will have language stipulating that you are personally liable to continue paying timeshare maintenance fees and improvement assessments.However, if your contract does not have this language, you may walk away at any time. , Ask him or her if it makes sense to litigate against the timeshare company.
Many timeshare companies are more likely to release an owner from the contract when they're faced with potential litigation.
Ask the attorney about all liabilities, current, future, and contingent (dependent on certain circumstances). -
Step 2: Research your state laws around contract cancellations.
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Step 3: Check for language in the contract about personal liability of purchaser.
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Step 4: Contact an attorney who specializes in contract law or timeshare cancellations.
Detailed Guide
These terms are typically listed near the end of the contract in a section with a heading like, "cancellations," "severability," or "termination." Many timeshare contracts allow buyers to cancel within a short window of time after the initial purchase. , Even if your timeshare agreement doesn’t mention it, many states offer consumers a “cooling off” period, which allows them to cancel most contracts within a few days or weeks.
You can find information about your state's contract laws on your state's Department of Consumer Affairs website.
If you're having trouble deciphering your state's contract laws, you can contact your state's Office of the Attorney General for more assistance.
Alternatively, if there is a consumer rights nonprofit organization in your state, they may be able to assist you. , Most contracts will have language stipulating that you are personally liable to continue paying timeshare maintenance fees and improvement assessments.However, if your contract does not have this language, you may walk away at any time. , Ask him or her if it makes sense to litigate against the timeshare company.
Many timeshare companies are more likely to release an owner from the contract when they're faced with potential litigation.
Ask the attorney about all liabilities, current, future, and contingent (dependent on certain circumstances).
About the Author
Anthony Roberts
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