Hopefully if you are reading this post you are doing so out of curiosity and not because you are seriously thinking about canceling your timeshare. While buying a timeshare is a big commitment, it is one of those investments that will keep you in great vacations for a lifetime and one which is a pain in the butt to cancel! The reality is that canceling your timeshare is a very complicated, expensive and time consuming task, and more importantly, seldom successful.
The best advice to take when considering canceling your timeshare is to ponder all the pros and cons of owning your timeshare. Hopefully for you, there are far more pros, and if they are balanced, then you should really forget about canceling, as the process just isn’t worth it. Only if the cons significantly outweigh the benefits should you even think about cancellation, and only then if you have legal grounds for canceling.
To cancel your timeshare the operator must be in breach of the contract and you will need to prove that you were either deliberately mis-sold the property against false pretenses or that some of the clauses in the contract have not been fulfilled. If you are dealing with a reputable company you will find few grounds for cancellation. The fact that you don’t want it anymore is not sufficient, just like taking back a pair of sneakers to a store after two months won’t cut it.
Also, be very careful if you are looking into canceling your timeshare that you keep up your maintenance payments; all outstanding fees are legally binding, and you might as well make the most of your unit while you decide whether or not to cancel. You don’t want the timeshare operator taking you to court instead!
