If you want to cancel your timeshare contract, you need to take a few things into consideration. Firstly, if you have passed the initially cooling off period which can be anything from 5 to 14 days depending on the country where you bought the timeshare, you will need to think very carefully about whether you have any legal grounds to cancel the contract, as cancellation can be a very lengthy and costly process.
When you decide to cancel the contract within the cooling off period, the process should be quite straight forward depending on how cooperative the timeshare company is. However, you will be expected to send written notification before the end of the cooling off period and be able to prove postage. You will need to contact the company directly to find out what is needed or get advice from a timeshare lawyer or consumer advice bureau for the country where you purchased the property.
Otherwise, to cancel a timeshare contract can be quite time consuming and costly as you will probably need to get a timeshare attorney or lawyer to prepare your case. That is why you need to be very clear about how you think you have been scammed or mis-sold your timeshare.
There are some alternatives to canceling your contract in cases where you have no desire to use your timeshare. You could rent or lend your timeshare to family and friends, donate the property to a charity or try and sell it.
1 thought on “Timeshare and How to Cancel”
If someone or a company cold calls you claiming to have a buyer with thons of cash ready to hand over it to you, be careful. These companies will usually ask you to pay for fees in advance and later on you will discover that this buyer never existed. These companies make their money from people trying desperately cancel a timeshare.