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Approaches on Timeshare Exit Solutions Timeshare is a form of arrangement where several owners of a vacation property assert their right to use the joint, vacation property under a time-sharing agreement. Timeshare started in Europe in the early 20th century when families would group together to purchase a holiday home where they each had a share and contributed toward the cost of upkeep and that each family agreed that an equal amount of time each year, about 3 months for each family, will be used to spend their vacation there. Because of some drawbacks which timeshare owners have experienced, they are contemplating on selling their share, and these are: scheduling problems to use the vacation resort and limited schedules which are not favorable to the owner; increasing maintenance fees. Because the timeshare resale market now is over saturated with owners who desperately want to recoup their investment, it will be a difficult endeavor, at this time, to even think of reselling, so other options are being looked into like looking for the right timeshare exit solution. Due to the nature of timeshare selling, there are now states that have enacted laws that allow timeshare buyers to cancel contracts, for as long as they act on it quickly, meaning act within the cancellation period. After reading your timeshare contract and you found out that there is no stipulation of a period allowed for cancellation, do the following steps: check on your state’s law on timeshare contracts or contact your state consumer protection office or contact your lawyer. If the contract provides a period of cancellation, communicate to the timeshare company of your intention to cancel the contract through a written letter and in it, include the following: your name as it appears in the contract, your address, phone number, and email address, the name of the timeshare company, a description of the timeshare, the date you purchased the timeshare, and a simple statement that you are cancelling the contract, but not necessarily mentioning a list of reason for the cancellation. In addition, the delivery of the cancellation letter must be sent within the time period, following exactly the instructions on cancellation as specified in the timeshare contract, such that is you do not follow the instructions well your cancellation may not be valid. If you can afford it, you may hire either a lawyer or a timeshare exit solution company to handle your cancellation intention, but you have to decide fast on which of this option to follow. There may be a circumstance that a state may allow cancellation even if it has been beyond the cancellation period; but, this will entail a lawsuit against the timeshare company, therefore, it’s best to consult a real estate attorney.The Beginners Guide To Experts (Chapter 1)

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