So, if you wish to cancel your resort timeshare purchase, you generally have a period of 5-15 days after purchase wherein you may legally rescind the contract. After the rescission period has expired, you can no longer cancel your purchase without penalty.
How do I legally return a timeshare?
5 Ways to Legally Get Rid of a Timeshare Property
- Exit Within the Grace Period. If you don’t want to have to learn how to sell a timeshare legally down the line, this is often your best course of action.
- Find a Possible Breach of Contract.
- Return the Timeshare.
- Sell Your Timeshare.
- Contact a Timeshare Attorney.
How long does it take to cancel a timeshare purchase?
The amount of time you have to cancel the purchase—called the “rescission period”—depends on state law. Usually, you have only a few days. Read on to learn more about the right to cancel a timeshare purchase and how to back out of a timeshare deal.
Can a timeshare be sold in a foreign country?
Before you buy a timeshare in a foreign location, consider speaking to a local attorney who can advise you about the rescission period (if there is one) in that particular country. If the rescission period has passed and you want to unload your timeshare, you’ll probably have to sell it to a new owner rather than get a refund.
Can you get out of a timeshare contract in Arkansas?
Under limited circumstances, though, state law might give you the right to get out of a timeshare contract after the rescission period has expired. In Arkansas , for instance, a buyer has five days to cancel a timeshare contract after execution of the contract of sale or up until receipt of the public offering statement.
Is there a rescission period for timeshare in Alabama?
The first step in cancelling a timeshare purchase is to figure out the rescission period. Here are few examples of the various rescission periods in different states. In Alabama, the rescission period is five days, not including Sunday if that is the fifth day.
