Timeshare Rescission Period - Oasis Exit Solutions

Timeshare Rescission Period

A rescission period is a short period of time granted by law to cancel your timeshare. You resort was required to disclose this period of time to you at the time of purchase. To find the period, review the paperwork that the resort provided to you at the time of purchase. It varies from state to state; some states do not have any, but most range from 5 ? 10 days. No resort's cancellation policy or contract can supersede these consumer protection laws, which also known as "cooling off periods".

Rescission period laws were created to give consumers time to rationally think about their purchase on long term expensive commitments that lock people into contracts. Most commonly with:

Life Insurance

Mortgages

Auto-loans

Alarm Systems

Timeshares

The term "cooling off period" was coined because it accurately reflects the heated mood of the buyer in high-pressure sales atmospheres, which are associated with these types of products. Often because decisions made in these atmosphere, are made on emotion rather than sound financial reasoning. The rescission period ensures time for the purchaser to come to their senses and consider whether they really want or can afford the product or service without the sales staff pressuring them.

Timeshare resorts must disclose the rescission period to you during your purchase. Plus clearly explain how you can optout of the contract within the stated period. Most states also require the resort to make you sign a separate document that acknowledges the rescission period to make this right known to you. If they did not, it is often legal grounds for you to cancel your contract after the period has passed.

If the resort did not disclose this rescission period to you, please contact one of our timeshare advocacy specialists immediately. They can further assist you in this matter and provide you with what additional information on what steps you can take to help you cancel the contract.

Timeshare Rescission Period By State

Below is the rescission periods listed by each state. This information is to the best of our knowledge, but for the most accurate information we recommend verifying it with the Attorney General of your state.

State

Days To Cancel

Type

Alabama

5

Alaska

None

Arizona

7

Arkansas

5

California

7

Colorado

5

Connecticut

5

Delaware

5

Business days

Florida

10

Georgia

7

Hawaii

7

Idaho

5

Illinois

5

Indiana

3

Business days

Iowa

5

Business days

Kansas

None

Kentucky

5

Business days

Louisiana

7

Maine

10

Maryland

10

Massachusetts

3

Business days

Michigan

9

Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia

5 7 5 3 3 5 5 7 7 7 5 none 3 10 5 5 5 5 7 10 6 5 5 7 7 10

Business days Business days

Business days Business days Business days

Business days Business days Business days Business days Business days Business days

Wisconsin

5

Wyoming

0

Business days

Timeshare Cancellation Policy

Helping Timeshare Owners is a timeshare consumer advocacy group that can help you with the timeshare cancellation policy of your resort. Beware of talking directly to your resort about their timeshare cancellation policy, they typically record their calls and can use anything you say against your future attempts to cancel your timeshare. Remember they do not have your best interest in hand, their goal it to keep your revenue coming in, not to show you how to cancel.

Nearly every timeshare company has worked skilled associates that cancellation calls are redirected to; they are trained to lead you into saying something that they can use to thwart your cancellation attempt, so think twice before calling them about it until you have been coached by a timeshare advocacy associate. The truth is only real timeshare cancellation policy that benefit owners are through consumer protection laws, which is something that Helping Timeshare Owners are experts in.

Timeshare contracts are loaded with clauses that are designed to protect the resort, not their customers. Most contracts are completely one-sided documents that are tightly worded by an army of attorneys that fill them up with legal language designed to keep you paying. If their contracts had an easy way for consumers to cancel, they would have been out of business a long time ago, no one wants to pay outrageous fees for something that typically has a resale value of 010% of its cost.

Help With Timeshare Cancellation Policy

The only real timeshare cancellation policy that the resort has to your benefit is the legally mandated 3-day rescission period, but because most people are on vacation when they purchase a timeshare, it's terribly difficult to cancel within the 3-day period. Usually after wasting a day of the family vacation on the timeshare tour and purchase, the last thing people want to do is waste another vacation day to cancel within the required period and you can believe timeshare resorts count on this fact to stay in business.

Our timeshare advocates can review your timeshare contract free of charge and let you know what options you have available to you. Call or fill out the Contact form to setup a time to talk to one of our representatives.

1-800-919-9295

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