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Letter Canceling Timeshare Contract

Category:
Letters - Legal - Timeshare
State:
Multi-State
Control #:
US-00783BG
Format:
Word; 
Rich Text
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Description

Most states now regulate timesharing, either under existing state land sale laws or under laws that were specifically enacted for timesharing. The regulating authority is usually the real estate commission in the state where the timeshare property is located. Under the typical act, purchasers may cancel the timeshare contract within a certain number of calendar days after the date the contract is signed if the seller is notified of the cancellation in writing.


The following is a generic form of such a letter.

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FAQ

Start the letter by mentioning your original holiday plans, dates and duration and then mention that you have canceled your plans due to unforeseen circumstances. Mention the date you will rejoin work due to this cancellation. Explain reasons for cancellation of the plan briefly.

Begin the cancellation letter with the date, the company's name and address, and your account number. State politely but firmly that you want the company to cancel your account, and give them the customary 30-day notice before you expect it to become effective.

You should start the letter with Dear Membership or Subscription Company Name. You should then list the name or type of membership or subscription you are cancelling. Provide all the key information in the letter right away so the receipt is clear about the purpose for your letter.

On average, it costs about $5,000 to $6,000 and takes 1218 months to get out of your timeshare contract using a timeshare exit company. But the cost and the timeframe can vary depending on a number of factors including, how many contracts are attached to your timeshare.

Dear Sir / Madam: This letter is to inform you that I am officially cancelling our lawn service contract. Our contract ends on DATE, and I do not wish to renew it as I no longer own the house. The contract states that if I cancel before 30 days of the end of the contract, there is no penalty fee.

Another reason why it's so difficult to cancel your timeshare is that there are limited alternatives available.Also, timeshare companies make it incredibly difficult for owners to sell their properties. Resort officials want owners who make payments on time.

Include the date of the letter along with the name and contact details of the organization. Also, give your complete name, your mailing address, and the subscription or membership details based on the records of the company.

While it's usually not necessary to provide a reason for canceling the timeshare contract, you do need to explicitly state that the purpose of the letter is to rescind the contract. A statement like I am contacting you within the rescission period to cancel this timeshare contract will usually work.

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.

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