When the excitement of your new timeshare purchase wears off, you may begin wondering what your options for canceling your contract are.
You’re not alone. Every year, thousands of timeshares are sold, and thousands of timeshare owners sell, return, or cancel their timeshare contracts.
You could try to cancel or get out of your contract on your own. But without legal experience, you’ll be facing a confusing, stressful, lengthy process.
Luckily, a timeshare lawyer can help.
If you’re ready to cancel your timeshare, keep reading to learn what you can expect when you hire legal help to do so.
Help Reading Your Contract
To someone with no legal experience, reading a timeshare contract can feel a bit like trying to decipher a foreign language.
These contracts utilize advanced language, confusing terminology, and repetitive phrasing to ensure that there are no loopholes for angry timeshare owners to slip through.
The result is a contract that is nearly impossible for the untrained reader to understand.
Luckily, a timeshare lawyer can help.
Their experience in reading an deciphering timeshare contracts can be priceless when you’re working to get out of your timeshare.
Without help from a timeshare lawyer, you may miss deadlines for canceling your contract, or not realize that you have options.
A Better Understanding of Your Rights
Once a timeshare lawyer helps you read and understand your contract, they’ll then be able to help you start looking into your rights and options for canceling it.
Some timeshare contracts include a cancellation policy. These can last for anywhere from a few hours after you sign your contract to a few weeks. During this time, you may be able to cancel your contract without penalty, or for a loss of a percentage of your timeshare investment.
If you decide that you may want to cancel your timeshare, it’s a good idea to contact a lawyer right away. If there is a cancellation period written in your contract, you’ll need to take advantage of it right away, or risk missing the deadline and having to take other measures to cancel your timeshare.
If your contract doesn’t have a cancellation period, or if you’ve already missed it, your timeshare lawyer will be able to help you learn your rights.
This includes whether or not you can sell or rent your timeshare to try to recoup some of your investment.
Legal Protecting Against Unfair Practices
Your timeshare property management is likely to do anything they can to keep you locked in your timeshare contract.
This may include trying to convince you that your timeshare is a good investment, offering incentives, or making it more difficult to cancel your timeshare.
A timeshare lawyer can help protect you from these practices.
They’ll communicate directly with your timeshare property management. They’ll let you know what that management can and can’t do.
Without their help, you may still be able to cancel your timeshare. But it won’t be without a lot of work and stress. Trying to cancel your timeshare on your own can be a time-consuming process as well. During this process, you’ll continue to pay into your timeshare.
In addition, your timeshare attorney can help prevent you from making a fast decision on canceling your timeshare. Before you sell or return your timeshare, it’s a good idea to ask yourself, “would my timeshare attorney approve of this deal?”
Assitance Selling or Renting Your Timeshare
If your contract allows it, selling or renting out your timeshare can be a great way to recoup some of your investment.
Selling your timeshare, even at a loss from your initial investment, can help you get out of your contract. This will save you from years of paying costly fees and maintenance.
If your contract doesn’t allow you to sell your timeshare, or if you want to keep your timeshare, renting might be another option.
If you have your timeshare for several weeks out of each year, you could rent out your timeshare for part of your rental period, then use it yourself for the other part.
Renting out your timeshare for a high enough rate can be a great way to reduce your costs while also still getting to enjoy it yourself.
If you only have your timeshare for a week, renting it out can still be a great way to recoup costs if you can’t use your timeshare one year, or if you find yourself in need the money.
Figuring out whether you are legally allowed to sell or rent your timeshare can be tough without a timeshare lawyer. If you try to sell or rent when you aren’t legally allowed to, you could risk voiding your contract.
Even if you are legally allowed to do so, a timeshare lawyer can help you make sure that you do so properly.
Returning Your Timeshare to the Property
If you can’t or choose not to rent or sell your timeshare, you may be able to return it to the timeshare property. While you may not get your investment back with this method, it can help you avoid paying costly fees for years to come.
Before you choose this option, you need to talk to a timeshare lawyer. They’ll help make sure that you don’t have other options, and ensure that the timeshare property doesn’t try to cheat you out of any return on your investment that you are legally entitled to through your contract.
Why You Need to Hire a Timeshare Lawyer
Whether you’re struggling to read your contract, wondering what your options are for selling or renting your timeshare, or are just beginning to wonder what your legal options are, it’s time to get a lawyer.
But not just any lawyer will do. If you want to make sure that you’re not breaking your contract and that you’re getting the most out of selling, returning, or renting your timeshare, you need a lawyer with the right experience.
A lawyer experienced in dealing with timeshares is essential.
If you’re ready to start looking for a lawyer to help you cancel your timeshare, it’s time to start searching for lawyers in your area.