Timeshares can be a fun and predictable way to vacation each year. Still, sometimes circumstances change, and you may find yourself wanting to exit your timeshare contract. Whether it’s due to financial constraints, lifestyle changes, or simply a desire to move on, our attorneys can guide you on how to safely and legally terminate your timeshare ownership.
Disclaimer: The information provided is intended for informational purposes only and should not be construed as legal advice.
When you are ready to let go of your timeshare, many people will be surprised to know they have several options. Here are 5 ways attorneys can help to free you of your timeshare:
Use the Rescission Period: If you’ve recently purchased a timeshare and have second thoughts, our experienced attorneys can help you take advantage of rescission laws. These laws allow buyers to cancel their timeshare ownership within a specified period (usually a few days after purchase) without penalties.
Negotiate with the Timeshare Company: Even if the recission deadline has passed, the attorney can speak directly with the timeshare company to assist in exiting your contract in a way that is most beneficial to you. The company and your attorney can create an exit solution that is amenable to you both and can provide guidance on the next steps.
Rent Your Timeshare: If exiting your timeshare isn’t feasible, your attorney can assist you with converting it to an income-producing asset by guiding you on the legal requirements to rent your timeshare weeks. Renting can help you cover maintenance fees or recoup some costs. However, this won’t fully release you from ownership.
Take advantage of the Resale Market: Selling your timeshare on the resale market is an option but be prepared for a potential financial hit. Resale prices can be significantly lower than the original purchase price.
Make a Gift: You can gift your timeshare to a friend, family member, or stranger. Remember that this usually won’t provide any financial gain. However, it’s a way to transfer ownership if you no longer want the responsibility.
At our firm, we understand the complexities of timeshare ownership and offer a comprehensive approach to help you exit your contract safely and legally. LSS Law can help you decide which options work best for your situation, and here are some reasons why:
Protection from Scams: Be cautious of fraudulent exit companies promising guaranteed cancellations. Using an attorney can give you confidence, knowing that we will prioritize your best interests.
Legal Expertise: Estate attorneys have experience with the pros and cons of transferring all assets, including timeshares, and have the know-how to determine whether that transfer is more beneficial while you are alive or after you pass away. We understand the intricacies of timeshare contracts, state laws, and the legal implications of various exit strategies.
Customized Solutions: Each case is unique. An attorney will assess your situation, explore options, and recommend the best course of action tailored to your needs.
Negotiation and Litigation: An attorney can escalate the dispute to court if negotiations with the timeshare company are unsuccessful. They’ll advocate for your rights and work toward a resolution.
Protection: Attorneys protect you from unscrupulous practices. Unlike non-attorney relief companies, they can represent you in legal proceedings if necessary.
Peace of Mind: It’s not just about finances; it’s about reclaiming your peace of mind. We’ll guide you and help you remove the burden of unwanted ownership.
Getting out of a timeshare can be complex, but you can navigate the process safely with the proper legal guidance. Consult an estate attorney to explore your options and find the best path toward timeshare freedom. Remember, it’s not about making money; it’s about reclaiming your peace of mind and moving forward without the burden of unwanted ownership.