Monday, 13 March 2017
When it comes to timeshare contracts, there are still many confusions floating around in the market, especially concerning matters related to cancellation. Most timeshare companies will have you believe that this is a binding contract - as in you cannot get out of it once you have signed on the dotted line. This, however, is not entirely true. You always have an exit route available when you consider timeshare contracts, especially in case you have been a victim to fraud. You just need to remember one thing - go for seeking cancellation and termination of timeshare fraud with the best timeshare lawyer consultants on your side.
Fact of the matter is - most timeshare companies maintain that their contracts are non-cancellable. Timeshares usually turn out to be a humungous costly affair, which is why these lies are perpetrated by companies to keep unwitting investor caught into their trap. The truth however, is that a timeshare contract is very much cancellable, for a variety of reasons including fraud and mistake.
According to the Uniform Commercial Code, “Cancellation of this contract occurs when either party puts an end to the contract for breach by the other. Termination, on the other hand, pursuant to a power created by agreement or by law, decides to put an end to a contract otherwise than for its breach.” There is usually a cooling-off period stipulated in these contracts within which either party can seek to terminate the same. However, in case this time period has expired and when a fraud has occurred, an investor would need to seek help of a timeshare lawyer consultant to actually prove the nature of the circumstances, present a viable case in court and eventually cancel the contract and seek damages/compensation for the problems suffered by the investor.
So if you feel you have been duped by your timeshare company in anyway and are seeking an exit from your investment, be sure to avail of legal assistance and consultation from a timeshare lawyer consultant. They will help you manage the situation with ease.
Buyer’s remorse is quite a common phenomenon with people who choose to invest in a timeshare. You attended the sales presentation on a whim and ended up buying an interest in a piece of real estate in, say, Hawaii. And now, the costs are piling up - taxes, maintenance fees and what not- and you are ruing the day you even thought of buying a timeshare. So what are your options? How can you get yourself out of this sticky situation? This blog will tell you about the best solutions available at your disposal to cancel a timeshare contract.
Considering the notorious nature of this industry, most states in the US have enacted laws that allow buyers to cancel timeshare contracts if they act quickly. You need to:
Act within the indicated time period for cancelling your timeshare contract
Your contract will mention a designated cancellation period within which you can rescind the agreement and get out of your obligations. This cancellation has to take place in writing wherein your notice to cancel the timeshare will clearly indicate your name, contact details (as it appears on the contract), details of the timeshare, date of purchase and a statement that you are cancelling it. You will not have to provide a reason to cancel a timeshare contract in most cases.
However, in case your contract doesn’t provide a cancellation clause or you have exceeded the designated time limit, you need to:
Get in touch with an expert who can refer you to an attorney for cancelling a timeshare contract
In certain states and in limited circumstances, you can go forth to cancel a timeshare contract by bringing a lawsuit against the timeshare company. The success of your case in court however, will depend on the knowledge, experience and prowess of the attorney you hire to handle the issue.
All the best with your endeavors!