How do you cancel a timeshare?

Answer by  Dean (4035)

Refer to your contract. The details for cancellation, if there are any, will be listed in the paperwork. For the most part, the owner of a timeshare will arrange to sell it through the agent who handled the original sale. All too often, this is easier said than done, especially during an economic downturn.

Answer by  sylviasilvey (19)

Normally, it's not simple to cancel a timeshare because timeshares are always under contract. It's a matter of getting out of the contract. In some cases it could destroy your credit rating. So, it's very important to understand the agreement that you are entering in before signing the contract for a timeshare even if you can't afford it.

Answer by  eilrol (1431)

Of course you have to look over your contract and revise it, send a letter to the office of where your made the agreement, contact the sales department and let them know of your decision and why, call a lawyer and make preparations to sell.

Answer by  vfisher (345)

If you are already past the rescission period, you are in a legally binding contract. If money is an issue to pay them, contact the timeshare company and explain why you need to cancel your timeshare. It all depends on the company but they may work with you to canel your timeshare. Some companies will not work with people.

Answer by  2525252 (717)

Well time shares can't just be cancelled unless it's mentioned in the contract that your time share can expire at any given time in the future. You'd have to send out preample warnings and letters to the parties involved. And to appease them you'd probably have to offer some cash incentive.