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  2. May 25, 2023 · To get out of a timeshare legally, consider these options: Use the rescission period. Call the timeshare developer. Rent your timeshare out. Sell your timeshare on the resale market...

    • Emma Kerr
    • Editor
    • The Problem. En español | "My parents purchased a timeshare more than 30 years ago,” began the email from Kim Seney, a recent retiree from Northern California.
    • The Advice. The very first move, experts agree, is to check with the resort itself. When you call them up, don't talk to just anyone. Ask specifically for the person who handles “deed-backs” or “surrenders” — which is when you return your property to the company, maybe for a fee of a couple hundred dollars or so.
    • The Outcome. To Seney's delight, she didn't have to jump through any of those hoops. She called the resort company, explained the situation and was told that, although there was no formal deed-back program, as long as she could send them her father's death certificate, they'd take it back.
  3. If you’re already in a timeshare and want out, start by contacting your timeshare company. Some have exit programs that let you exit for a modest fee. But, if you think you want to hire a company to help you, take some steps before you sign:

    • Checking The Rescission Period
    • Contacting The Timeshare Resort
    • Reselling The Timeshare Yourself
    • Reselling The Timeshare Through A Broker
    • Hiring A Timeshare Exit Company

    If your second thoughts occur within several days of your purchase, you may be able to rescind the transaction if you’re still within the “rescission period.” If you are, you should be able to get your money back and go on your merry way. Keep in mind, however, that the rules vary from one state to the next. Depending on the state where the timesha...

    If rescission isn’t possible because too much time has passed, another option you may be able to take advantage of is a “deed back” program. Also known as “take-back” and “surrender” programs, these programs allow distressed owners to give their timeshares back to the resort developer, often for a fee of a couple of hundred dollars or so. To find o...

    If you’re considering reselling your timeshare, it’s probably best if you don’t go into it with hopes of making a killing. There are typically many people looking to unload their timeshares and demand isn’t generally high, unless your property is in a hot destination. As a result, reselling can often be a losing proposition. The best approach might...

    If you opt to resell your timeshare, another option is to hire a real estate broker or agent who specializes in reselling timeshares. If you choose this route, however, you’ll want to pick your broker carefully, cautions the Federal Trade Commission (FTC) . Some real estate brokers and agents who specialize in reselling timeshares may falsely claim...

    The concept is good. With a timeshare exit company you often get a small army to handle your business. A good one knows the inner workings of the timeshare industry, which could be advantageous to you. One major caveat is that these services generally don’t come cheap–prices vary considerably, but can be as high as $4,500. It’s also important to be...

    • Check Your Timeshare Contract. Many timeshare contracts contain a retraction or rescission period. This can be called a “cooling off” period. It’s a period of time after you sign the agreement in which you can cancel.
    • See if the Company Will Buy it Back. In some cases, the timeshare company will buy it back. This is rare, but it does happen. Note that they likely won’t give you the full price in a buyback.
    • See if the Company Will Take it Back for Free. Some companies won’t buy timeshares back. However, they might take them for free. Yes, this is a colossal loss of cash.
    • Sell Your Timeshare. In some cases, you can sell your unwanted timeshare to someone else using a specialized realtor. As with the buyback, you’ll likely sell it for less than you paid.
  4. If you recently bought a timeshare and regret that decision, you might be able to cancel the contract. But you'll need to act quickly. The amount of time you have to cancel the purchase, called the "rescission period," depends on state law. Usually, you have only a few days.

  5. Aug 11, 2023 · 1. Use the rescission period. For those who just bought a timeshare Cost: less than a dollar A rescission period is a short period of time you’re allowed to change your mind and walk away without incurring a fee.

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