How Do You Rescind A Timeshare Contract?
It is easy to get caught up in the excitement of a timeshare presentation. The salesperson will dazzle you with tales of exotic vacations for years to come, all locked in at today’s prices, and you willingly sign on the dotted line. Unfortunately, when you get home and figure in the maintenance fees and other factors, you realize that you have made a big mistake. If you want to rescind your agreement, you must follow certain steps. Read through the timeshare contract to find the stated cancellation policy, and double-check the laws of the state in which you signed the contract. According to the “Encyclopedia of Everyday Law,” there are grace period laws in virtually every state, but they can vary widely. For example, in Florida you can legally rescind the contract within 10 calendar days, but Nevada only gives five days. If you are still within the grace period, immediately take the required steps to legally rescind the contract. The process varies by state, but it usually involves not
