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How Do I Write A Timeshare Cancellation Letter?

It’s not uncommon to get cold feet after returning home from a timeshare presentation. So, in this article, we'll discuss how to write a timeshare cancellation letter, which should be all that is necessary to cancel your agreement if you are still in the rescission time period.

The most important aspect of canceling your timeshare agreement is to follow all instructions from the property provider in detail. This detail could differentiate between a good and a bad timeshare cancellation letter.

WHY CANCEL YOUR TIMESHARE?

The truth is, your timeshare salesperson might have misled you into an unfavorable deal. Or your timeshare "investment" didn't live up to your expectations. Also, sometimes these agreements prove too expensive for buyers who are unaware of the annual maintenance fees.

It's no secret that an unhappy timeshare owner has plenty of reasons for seeking a way out of their timeshare agreement. If you regret your timeshare purchase, you’ll want to get your cancellation in writing as soon as possible.

HOW TO LEGALLY CANCEL A TIMESHARE AGREEMENT?

You must cancel your timeshare agreement legally to ensure it is official. With the cancellation industry being so new, scams are sometimes prevalent. Steer clear of the timeshare resale market, which is a hotbed for scams, and instead, try finding help from reliable and trustworthy timeshare cancellation companies. 

WHAT IS THE TIMESHARE RESCISSION PERIOD?

The timeshare rescission period directly follows your purchase and is when state laws protect you if you wish to cancel your agreement. This cooling-off period is the easiest time to cancel your timeshare agreement, and the only time you'll receive a full deposit refund in return. After this time passes, cancellation is at the discretion of the timeshare resort.

HOW LONG IS THE TIMESHARE RESCISSION PERIOD?

The short length of the timeshare rescission period is a definite challenge. Typically, timeshare buyers only have three to fifteen days after purchasing to rescind the agreement. Each state has specified laws on how long timeshare buyers have to cancel.

CAN YOU CANCEL A TIMESHARE AFTER THE RESCISSION PERIOD?

After this grace period passes, the timeshare cancellation process is much more complicated. It is doubtful if you’ll get a full refund for the purchase, but you can still end your agreement with some help. While the timeshare resale market is full of scams, exit companies have proven their ability to help people get rid of their timeshares.

HOW TO WRITE A TIMESHARE CANCELLATION LETTER

If you are lucky enough to be in the rescission period, canceling your timeshare is relatively straightforward. You write a cancellation letter and send it to the resort. However, it's imperative for you to closely follow all instructions in your timeshare agreement when crafting a cancellation notice to ensure it’s authorized. 

Here is a simple four-step process to help walk through each stage of a timeshare cancellation letter:

  1. Get Straight To The Point: Let the resort company know about your intentions. Make the subject line of your letter clear: "Timeshare Cancellation Request."
  2. Research The Requirements: Beforehand, you need to know what to include in your cancellation letter, or you risk it being invalid, thus missing the deadline. 
  3. Deliver As Instructed: Following the correct mailing instructions ensures your letter gets delivered on time. Timeshare companies can be sticklers about rescission deadlines.
  4. Request A Confirmation: For your peace of mind, request a response in return from the timeshare company confirming that your canceled timeshare agreement is valid. 

Now that you know the four-step process, you can craft your letter. Have a look at our sample timeshare cancellation letter to help you get started:

Adobe 203556334 CancellationLetter

WHAT TO INCLUDE IN YOUR TIMESHARE CANCELLATION REQUEST

Check with your state laws to know what is necessary. Most timeshare cancellation letters need to include the following information:

  • The Names Signed on the Agreement
  • The Name of the Timeshare Developer
  • Today's Date
  • The Purchase Date
  • The Agreement Number
  • A Timeshare Description of the Unit
  • The Total Cost Amount of the Purchase
  • A Statement Declaring Your Cancellation
  • Your Contact Information: Mailing Address, Phone Number, & Email

DELIVERING YOUR CANCELLATION NOTICE TO THE TIMESHARE COMPANY

When delivering your timeshare rescission letter, you must follow the instructions provided by the timeshare company. It's also worth looking into the state laws relevant to your situation. In-person delivery of your notice may be permitted, but mail is the more common route. 

Remember, timeshare companies make their money by locking people into terrible deals. So, when they receive word that you want to cancel, they'll do everything to convince you to stay. They may even say they never received your cancellation letter. These deceptive tactics are why you must send your letter through registered or certified mail to get a delivery receipt. 

WHAT IS A TIMESHARE CANCELLATION COMPANY?

As mentioned above, the timeshare industry makes it difficult for owners to cancel their agreements. That has led to the creation of the timeshare cancellation industry. 

Cancellation companies specialize in exit strategies for hopeless owners looking for a way out. These companies are home to cancellation experts who pride themselves on their ability to help distressed owners. They can also help you if you’ve missed the rescission period. 

Wesley Financial Group, LLC is a perfect example of a trusted and legitimate timeshare exit company. If you got misled into a dishonest experience by timeshare salespeople, reach out to them today for a free consultation to see if you qualify for their termination service. 

Wesley Financial Group, LLC, and its affiliates, successors, or assigns are not lawyers or a law firm and do not engage in the practice of law or provide legal advice or legal representation. All information, software, services, and comments provided on this site are for informational and self-help purposes and not intended to substitute for professional advice, legal or otherwise.

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