How To Get Out Of A Timeshare Legally

If you’re tired of your timeshare and you’ve tried exiting your contract, you know how difficult it is to break free. Unfortunately, it’s not as easy as shredding your contract, but there are ways to get out of this expensive commitment.

The Difficulty of Exiting a Timeshare

Timeshare contracts are lengthy and full of jargon only salespeople understand. When you signed yours, you were probably rushed into it and didn’t read the fine print. Now you’re stuck with a timeshare because a pushy salesperson didn’t let you leave the presentation.

Here are three legal ways to help you get out of your timeshare.

Read Your Contract Thoroughly

Perhaps you’ve given up on trying to terminate your timeshare, and you’re trying to avoid the headache-inducing contract. However, it’s worth revisiting it because you may be able to find a loophole.

Most timeshare contracts come with a rescission or retraction period, which is known as a “cooling off” period that gives you a few days. Do you remember the salesperson mentioning this period? They purposely omit this information to trick you into thinking you’re tied to your timeshare from the moment you sign the contract.

If you’re still eligible, you should be able to cancel your contract, no questions asked. Official contract cancellations require written notice, so if you can end yours, write a letter to your timeshare company. Sign it and make multiple copies.

Check If the Company Will Take the Timeshare Back

In rare instances, companies will accept the timeshare back. Although it may sound like a distant dream, you should contact them and ask if they’re willing to buy it back. Unfortunately, they won’t offer you the full price, so you’ll lose money. However, selling it back may be the better option instead of paying for a property you only visit once a year.

Certain companies will only take back a timeshare for free, which is a colossal loss of cash. Don’t let this deter you from getting out of your contract because you’ll still be saving thousands in the long run. The goal is to stop paying those pesky, annual maintenance fees that add up fast.

Rent out Your Timeshare

If you can’t get out of your timeshare, the next best step you can take is renting it out. Approximately 2,000,000 timeshare owners have unused time, according to the American Resort Development Association. Owners must continue to pay maintenance fees, even if they don’t visit the property.

You can rent out your unused time to offset the fees associated with a timeshare. You’ll need to work with an agency that has the resources to advertise your rental listing and can process transactions.

Contact Easy Timeshare Relief

Are you longing for the day you can break free from your timeshare contract? Don’t wait any longer, and work with a timeshare exit specialist from Easy Timeshare Relief. We’ve helped unhappy owners terminate their contract quickly, legally, and permanently for over ten years. Contact us today.