Can I Cancel My Timeshare?

Can I Cancel My Timeshare?

Are you a timeshare or vacation club member and are wondering, can I cancel my timeshare? Although it is unlikely you will want to cancel your membership if you buy from a reputable provider like the Villa Group Resorts, some owners have pondered their legal rights and whether or not they can cancel their membership. Do you want to know if you have the right to cancel your timeshare? If so, you can find out how here whether or not you have a right to cancel your timeshare membership

Timeshare Membership Contract

There are a lot of fine details involved in timeshare or vacation club membership, so it is understandable that some members and owners may become a bit confused on whether or not they can cancel their timeshare. A timeshare membership involves a legal contract which is an official document that members sign that they will pay a certain fee to become a vacation club member, and also agree to pay regularly required maintenance fees to keep the vacation property looking great. In most resorts, maintenance fees are collected each month, although some vacation club memberships may only ask for fees to be paid one or twice a year. Check the details of your specific membership contract to find out exactly when and how much your maintenance fees are. In addition, maintenance fees can increase over time in order to be able to maintain the high level of quality members expect.

Cooling Off Period: Cancellation Is Possible

If for whatever reason a vacation club member wants to cancel their membership, they do have a legal right to do so but only during the period of time immediately after they sign their contract. This time frame is known as the cooling off or rescission period. New timeshare members do have a right to cancel their timeshare during the cooling off or rescission period and this always occurs in the few days after a the membership contract has been signed. Want to verify the specific dates for your cooling off or rescission period? Make sure to read your membership contract carefully to find the exact dates that apply to your vacation club plan. The average time frame for a cooling off period is only 5 to 14 days after the contact was signed. So it is true that members do have the right to cancel their vacation club membership, but only during the short time frame known as the cooling off period. Once the cooling off period has ended, vacation club members are legally bound to the contract details which include paying regular maintenance dues and member fees as stipulated in their membership contract.

Cancellation Companies Are Scammers

So now you know that you can cancel a timeshare, but only during the first few days after you sign a membership contract. If you have an existing timeshare that you have had for awhile, you are unable to rescind that legal agreement. Despite this fact, some members have been contacted by companies that claim to offer cancellation services for a fee. Do not let yourself become a scam victim. No cancellation company has the right to cancel your timeshare once the cooling off period has passed. If the cooling off period is still active, simply contact your existing provider and avoid paying unnecessary fees to an outside company. Remember, a cancellation company does not have the right to cancel your legally binding responsibility. The only time you can cancel your membership is during the cooling off or rescission period, and you can request the cancellation directly with your provider. Once the cooling off period has ended or if you are approached by fraudulent timeshare cancellation companies that claim they can cancel your contract, rest assured you are putting yourself at risk to become scammed. Stay alert and do not fall prey to this scam. Still have a question or concern about your specific vacation club membership? In order to protect yourself and avoid scams, always direct any questions or concerns to staff members at your current vacation club provider and never enlist potentially fraudulent services from outside companies or individuals.

To summarize, can I cancel my timeshare? Yes, you can cancel your timeshare or vacation club membership, but only during the cooling off or rescission period. The cooling off period occurs immediately after you sign your contract, usually in the 5 to 14 days after the contract was signed. Once the cooling off period time frame has ended, no one including fraudulent cancellation companies can cancel your timeshare. We hope this article has cleared up any confusion you may have regarding your timeshare or vacation club plan. 

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