Timeshare owners want to cancel their contracts for various reasons, such as increased timeshare maintenance fees, a change in their personal circumstances, or being unable to travel due to illness.
However, trying to cancel the contracts yourself can save money; you may need to spend time learning the different legal aspects of how and why you can cancel your timeshare agreements, as each timeshare exit solution will depend on where and when you signed up to purchase your timeshare vacation product and how it was sold to you.
You will have to decide if this is a resignation and simply termination of the contracts or if you want your money back as a form of compensation for any unfair sales tactics that may have taken place.
However, in most countries, timeshare and consumer law directives were in place to protect the timeshare buyer; The resorts or their personal sales did not comply with these laws, and as such, you may be able to use this as a reason to void your timeshare agreements and contracts.
You will need to prove which laws and breaches of the agreement you signed have been broken and this can be very difficult, especially if it involves different laws than in your own country. An example of this is if you are from the UK and bought in Spain, you would need to invoke the laws of the Spanish Civil Code to try to free yourself from your timeshare agreements. If it gets even more complicated, as in the US, each state has its own timeshare and consumer protection laws, so a good knowledge and understanding of these laws is required to be successful.
A fast track is if you fall into a small subsection of owners. You may be able to relinquish your ownership, in other words, return the timeshare if you are unwell or ill and unable to travel, you are over 75, your partner or spouse is deceased and they were named in ownership contracts, you they are in poverty and cannot pay the annual maintenance fees.
An important point to note is that if you are going to try to cancel the contracts by negotiating directly with your timeshare resort yourself, remember that you must cancel any financing, such as loans or mortgages, that are tied to the timeshare, which can mean have to deal with financing. company directly, as well as the resort.
Make sure you have the relevant paperwork and proof of purchase as you may need these and the dates you signed should match the laws you want to use, for example Spanish civil code law normally applies after 1999, so timeshares purchased on Spanish soil. before this date they will have to use other consumer protection or timeshare laws to terminate their memberships.
However, it is not impossible; It is not easy and therefore it may be better to seek advice, especially if it is free, to obtain the best solution that suits your needs. Free timeshare legal advice is worth its weight in gold. You can find out if your area and jurisdiction are covered and learn about your rights under consumer protection and timeshare laws.
The main point of this article is that you can terminate your timeshare agreements and, in some cases, request compensation from the timeshare company.