Many timeshares seem like a great idea at first. After all, having access to a high-quality vacation property comes with plenty of benefits.
However, there will likely come a day where you wish to cancel your timeshare. This is often the result of people not using the location as much as they initially thought.
The process can be more complex than it seems. So, we’ve put together a guide full of timeshare tips to help you out.
Let’s take a look at everything you need to know about how to cancel a timeshare.
You Must Act Within the Cancellation Time Period
As you might guess, you’ll need to act within the cancellation time period to successfully cancel your timeshare. Otherwise, your request may be rejected, and you will be bound by the terms of your contract.
Within your timeshare contract, this should be a clearly defined number of days that you can cancel your contract. This time period begins the day on which you signed the contract.
If your contract does not contain this information (or you feel as though this information is inaccurate), it’s best to get in touch with a legal professional to determine your next course of action.
Put Your Cancellation in Writing
If you decide to move forward with your cancellation, you need to do so in writing. Even if you are not required to submit a cancellation document or letter, it’s in your best interest to do so.
Within your cancellation letter, you will need to include your name as it appears on the contract, your contact information, and the name of the timeshare company you entered the contract with.
You’ll also need to write a description of the timeshare, the day you entered the contract, and include an official statement for canceling the contract.
To elaborate on this last point, you would simply say something like, “I am sending this letter within the cancellation period to rescind my timeshare contract.”
Deliver the Letter Appropriately
Unfortunately, failing to abide by the cancellation delivery terms could cause you to get stuck in your timeshare contract.
How you must deliver the cancellation letter will vary from one situation to the next. However, the timeshare company should have clearly outlined terms about doing so.
So, check your contract after writing your letter to ensure that you follow the appropriate procedure.
Looking to learn more information about timeshare cancellation? You can discover more here.
Knowing How to Cancel a Timeshare Is Essential
The above information will help ensure that you understand everything you need to cancel a timeshare. From here, you can make the decision that’s best for you and ease this burden once and for all.
Looking for more useful information that can help you out in the future? Our blog has plenty of resources you can check out.