How To Get Out Of A Timeshare Contract

By Matti Pennington

How to Get Out of a Timeshare Contract

Maybe you’ve come into financial hardship, or your timeshare just isn’t suiting your lifestyle anymore. Don’t panic because there are routes owners can take.

If you are looking to get out of your timeshare contract, here are some things you need to be aware of.

Timeshare contracts have a rescission period, where you can cancel your purchase. If you are past the rescission period with your timeshare, you most likely will not be able to cancel your contract.

We recommend calling your developer, HOA, or resort to get started. Some resorts may take back timeshares depending on where you stand with your ownership.

If your resort won’t buy your timeshare back, you may be surprised to know that sometimes brands have in-house exit solutions or can simply offer expert advice on how to get rid of your timeshare.

The Coalition for Responsible Exit also has Featured Resellers that are vetted by developers and ARDA. Fidelity Real Estate is a Featured Reseller for the Coalition.

If you stop paying your timeshare maintenance fee, your ownership will likely go into foreclosure, which will stay on your credit report for years, so you should never stop paying your these fees.

You may have heard of timeshare exit companies that promise to help you cancel your timeshare contract. Similar to a house mortgage and deed, you can’t just cancel them. These companies are scams.

Sell Your Timeshare

Undoubtedly, an option most owners take is listing their timeshare for sale. This way, you can try to get back some of the money you put into it.

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