What Is The Process Of Timeshare Cancellation?

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Vacation Rentals

People enter into timeshare contracts with the expectation that they will have affordable vacations in the future. However, they may realize that the purchase was made impulsively. They then look forward to guides on how to get rid of Hilton Timeshare.

Fortunately, there are ways through which you may be able to cancel the timeshare contract. However, this action should be taken as soon as you realize that you want to terminate it.


The reason to cancel timeshare contract

When you purchase timeshare, you essentially acquire a shared interest in a portion of real estate. However, timeshare sellers are sometimes unfair for being hard on the potential purchasers. Purchasers do realize that the timeshare contract is not worth the money they pitched in. Purchasers may even be unaware of the different hidden obligations in relation to fees, taxes and other various assessments.


How can it be cancelled?

The first question that comes into mind is how can the contract be cancelled? Most of the state laws allow purchasers to cancel the contracts. However, this is only if they act as quick as possible.

The first thing to consider is that you should be acting within the cancellation period stipulated. The contract will state the number of days in which the contract can be cancelled. If there is no mention whatsoever of such clause, then you need to consult with the consumer protection authorities.

You must ensure that the contract is being cancelled in writing. You must follow this protocol. Even if there is no requirement imposed by the contract, you should keep things in writing. This is essential for you to remain protected at all times. You must include the following important information in the cancellation letter:

  1. The name, exactly as it appeared on the contractual document;
  2. The address, phone number and email address;
  3. Name of the timeshare association;
  4. The descriptive details of the timeshare;
  5. Date on which the timeshare was purchased;
  6. A clear statement to the effect that the contract is being terminated;
  7. If you think it is necessary, then reasons for termination of the contract.

Once you have written the cancellation letter, you must deliver the letter to the manner specified in the contract. Make sure it is delivered to the right address. Instructions in the contract must be followed in letter and spirit. The cancellation letter must also be delivered within the time period which is stipulated in the contract.


The bottom line

Above are some ways in which timeshare can be cancelled. However, if you have missed the cancellation period within with the notice is to be issued, you can consult a legal expert. They will guide you to the remedies which can be taken. A real estate attorney can also be contacted who may send the notice on your behalf. This is to add more value to the notice and make it sound more authentic.