Can You Really Exit Your Timeshare? Key Points To Think About

For too long timeshare ownership and its ever-increasing fees and assessments have made life difficult for many individuals. If you are facing the same situation in your life, rest assured, we understand your situation very well. Only timeshare exit attorneys with years of expertise and experience can be helpful in this challenging predicament. You can simply reach them by searching for the timeshare cancellation attorney near me. In this blog, we have discussed the whole truth about your confusion and intended to spill the beans.

Many unscrupulous timeshare businesses refuse to take back their timeshare and prevent the sale or transfer of an undesired timeshare to third parties, turning the timeshare into a financial responsibility for the timeshare owner's whole life.

 

Your Consumer Rights

However, the Vacation Ownership and Timeshare Act of 2004 stipulates that a timeshare owner may use this consumer protection act to regulate timeshare salesman disclosures and statements, as well as the content found in timeshare marketing brochures. In addition to the preceding, the Act includes a formula that limits the rental of timeshare units to the general public and mandates a one "to" one purchaser-to-accommodation ratio to ensure that timeshare owners have access to the timeshare that they acquired. 11245 (b), 11250 (California Business & Professions Code). Owners may sue Vacation Ownership and Timeshare Act violators for monetary damages and injunctive or declaratory remedies.

Furthermore, the Act does not preclude alternative legal remedies, such as an action under California's Unfair Competition Law.

 

What Exactly Should You Do To Exit The Timeshare?

You should be aware that any debt cancellation or readjustment work will almost always result in some type of negative credit reporting. If you are preparing to buy a house, a car, or just refinancing a significant item, our timeshare attorneys do not advise you to simply cease paying on your timeshare. We advise you to keep paying and not cancel your timeshare until you have received the appropriate finance.

If you decide you no longer can or want to pay for your timeshare and be liable for its ever-increasing fees, you should consult a timeshare attorney specializing in this area. For better clarity, call your timeshare developer and ask if they are willing to accept the return of your timeshare. If they are not, and it appears like you will be obligated to pay maintenance payments for the rest of your life, you should speak with a timeshare exit attorney who is familiar with these regulations.