Would you like to know the rescission laws for timeshares in Mexico? We have provided you will all the information that you are looking for that concerns Mexico timeshare cancellations along with the rescission period laws.
The rescission laws were put into place in Mexico to protect the buyers and the timeshare companies. The guidelines for the rescission laws for timeshares in Mexico are helpful for both buyers and sellers of a timeshare when you purchase the timeshare from a developer that is licensed, but if you are purchasing the timeshare as a resale, then you may not be protected by the rescission laws in Mexico. This article has been provided to assist the buyers who purchase a timeshare in Mexico from a legitimate and genuine timeshare company.
Rescission Period – What is it?
The “cooling-off” period is another name for the rescission period. This is the only time that a buyer cannot be denied for cancellation of their timeshare purchase according to the rescission laws for timeshares in Mexico. Many fraudulent timeshare cancellation companies will let you believe you can cancel your timeshare membership at any time, but this isn’t true. The law in Mexico gives buyers the legal right to cancel their timeshare contract during the rescission period and only during the rescission period. These fraudulent cancellation companies try to convince and trick you to believing that with their services they can cancel the contract and the fees are extremely high, but they are not able to do it.
After the Rescission Period – What Occurs?
After the rescission period or the cooling-off period has lapsed, the rescission laws for timeshares in Mexico are unable to help you. You will not be able to cancel your timeshare. Remember, there are timeshare cancellation scamming companies that will convince you that they can cancel your timeshare contract, but they have absolutely no power in doing this. They nor you have no legal rights in cancelling any timeshare contracts after the cooling off period or the rescission period has passed.
Cancellation Scams – Protection and rescission laws for timeshares in Mexico
The rescission laws for timeshares in Mexico protect buyers completely when you buy a timeshare membership from a genuine timeshare company. There are barely any regulations that have been put in place to protect buyer from any timeshare cancellation scams, so you should beware! One way you can protect yourself from timeshare cancellation scams is to avoid them totally or you can try to research the company, but you must always remember that no matter what they tell you, if the rescission period has passed they cannot cancel your contract.
If you believe that you have been involved in a timeshare cancellation scam, then you should immediately contact the Mexican Federal Department, PROFECO and you can make a formal complaint against the timeshare cancellation company. Even though you have made a complaint, it still doesn’t guarantee that you will get your money back. This is why it is wise to know the rescission laws for timeshares in Mexico, so you are fully protected from being scammed.