Timeshare owners want to cancel their contracts for various reasons such as rising timeshare maintenance fees, a change to their personal circumstances or they cannot travel due to illness.
Trying to cancel the contracts yourself can save money however; you may need to spend time learning the different legal aspects of how and why you may be able to cancel your timeshare agreements as each timeshare exit solution will depend on where and when you signed up to purchase your timeshare holiday product and how it was sold to you.
You will have to decide if it is relinquishment and just ending the contracts or if you want money back as a form of compensation for any unfair sales tactics that might have taken place.
In most countries consumer and timeshare law directives were in place to protect the timeshare buyer however; these laws were not adhered to by the resorts or their sales personal and as such you may be able to use this as a reason to nullify your timeshare agreements and contracts.
You will have to prove which laws and breaches of the agreement that you signed have been broken and this can be very difficult especially if you are dealing with laws different from your own country. An example of this is if you are from the UK and bought in Spain you would need to invoke Spanish Civil Code laws in order to try and release yourself of your timeshare agreements. If gets even more complicated as in the USA each state have their own timeshare and consumer protection laws so a good knowledge and understanding of these laws is required to get success.
A fast track way is if you fall into a small sub section of owners. You may be able to give up your ownership in other words hand the timeshare back if you, are unwell or ill and cannot travel, you are over 75 years old, your partner or husband passed away and they were named on the ownership contracts, you are in poverty and you cannot afford the annual maintenance fees.
An important point to make is that if you are going to attempt to cancel the contracts by negotiating yourself directly with your timeshare resort remember you need to cancel any finance such as loans or mortgages that are attached to the timeshare which may mean dealing with the finance company directly as well as the resort.
Make sure you have the relevant paperwork and proof of purchases as you may need these and the dates that you signed need to match the laws that you are looking to use for example, Spanish civil code law applies normally after 1999 therefore timeshares bought on Spanish soil prior to this date will have to use other consumer protection or timeshare laws in order to end their memberships.
It isn’t impossible however; it isn’t easy and for this reason it may be better to get advice especially if it is free in order to obtain the best solution that suits your needs. Timeshare legal advice that’s free is worth its weight in gold. You can find out if your area and jurisdiction are covered and find out your rights under timeshare and consumer protection laws.
The main point from this article is that you can terminate your timeshare agreements and in some cases pursue the timeshare company for compensation.