how to cancel florida timeshare without lawyer

The proven ways to exit a timeshare without a lawyer 1. Don’t miss a rescission period The rescission period is determined when you can take your purchasing decision back and return your money. This period usually lasts 3-15 days, depending on the local rescission laws.

Full Answer

Can I cancel my timeshare in Florida?

If you own a timeshare in the state of Florida that you need to cancel, then our team is standing by to help you. Our company specializes in connecting timeshare owners who are looking to cancel their timeshares with reputable timeshare exit solution providers who can help them cancel their timeshares forever.

Do I need an attorney to file a timeshare in Florida?

The statutes governing timeshares in Florida are in Part I, § 721.01 and following. Statutes change, so checking them is always a good idea. How courts and agencies interpret and apply the law can also change. And some rules can even vary within a state. These are just some of the reasons to consider consulting an attorney.

Where can I find the laws for timeshare disclosure and cancellation?

The laws related to disclosure obligations can be found at Title XL, Chapter 721, Sec. 721.205, and the laws related to timeshare cancellation can be found at Title XL, Chapter 721, Sec. 721.10. The laws that you will find within these sections provide the legal requirements that timeshare sellers must follow to sell their product.

What happens if I Stop Paying my timeshare?

If you take out a mortgage loan to buy a deeded timeshare and stop making the payments, the lender, usually the resort developer, will probably foreclose. Also, timeshare owners typically have to pay annual maintenance fees and special assessments to their homeowners' association (HOA.)

Can you get out of a timeshare without a lawyer?

You'll have to cut each separate contract to escape. That's a lot to do on your own, so you may need an attorney to help you work your way out of all those contracts. Find one who specializes in contract law and has successfully gotten people out of their timeshares.

How do I get out of my timeshare in Florida?

Right to Cancel a Timeshare in Florida. If you buy a Florida timeshare, you can cancel the timeshare contract up until midnight of the 10th calendar day following the date you signed the contract or the day on which you received the last of all required documents, whichever occurs later.

Can I cancel a timeshare by myself?

While it's usually not necessary to provide a reason for canceling the timeshare contract, you do need to explicitly state that the purpose of the letter is to rescind the contract. A statement like "I am contacting you within the rescission period to cancel this timeshare contract" will usually work.

How can I legally walk away from my timeshare?

To get out of a timeshare legally, consider these options:Use the rescission period.Call the timeshare developer.Rent your timeshare out.Sell your timeshare on the resale market (but expect to take a hit).Gift your timeshare to a friend, family member or stranger.More items...•

Can I sell my timeshare back to the resort?

Can you sell your timeshare back to the resort? Yes, under certain circumstances. However, most people with an unwanted timeshare are on their own if they want a way out. Your last resort options are selling it yourself or receiving help from a trusted timeshare cancellation company.

What happens if I stop paying my timeshare mortgage in Florida?

If you stop paying on your timeshare loan, you face foreclosure. Foreclosure is the process whereby the lender files to take possession of the property and sell it at auction to recover the money you owe.

What is the average cost to get out of a timeshare?

Pretty much the only reason to even consider the exit company route is if you absolutely can't bear to deal with the timeshare company yourself, and you're willing to pay a lot — prices vary widely, but around $4,500 is common — for someone else to deal with it.

Why is it so hard to cancel a timeshare contract?

Limited Alternative Options. Another reason why it's so difficult to cancel your timeshare is that there are limited alternatives available. You might think about selling your timeshare if the burden becomes overwhelming. Unfortunately, there aren't many people in the buyers' market.

How do I write a letter to cancel my timeshare contract?

Write Your Timeshare Cancellation LetterYour name and contact information.The name of your timeshare company.The contract number.The names on the timeshare contract.The date of purchase.A statement of cancellation.The amount you paid, including a request that this amount be returned to you.

Can a timeshare put a lien on your house?

If a repayment plan isn't negotiated, the timeshare company might go the route of taking you to court for breach of contract to get a judgment against you and place a lien against the property. Ultimately, they will foreclose on the property.

What happens if you don't pay your maintenance fees on a timeshare?

If you stop paying your timeshare maintenance fees, you will likely default on your ownership. This not only hurts the resort, but it hurts you and your credit. Like a home going into foreclosure, the resort takes the ownership back and it will stay on your credit report.

What are the consequences of walking away from a timeshare?

Some people just stop paying on their timeshares. If you do walk away, don't be surprised to see a big hit to your credit score and to start getting regular calls from collection agencies. You might regret your purchase, but you did sign a legally binding contract.

How long is a timeshare closing voidable?

Any attempt to obtain a waiver of the cancellation right of the timeshare purchaser, or to hold a closing prior to the expiration of the cancellation period, is unlawful and such closing is voidable at the option of the purchaser for a period of 1 year after the expiration of the cancellation period.”.

How long does it take to cancel a timeshare in Florida?

Any timeshare seller who is located within the State of Florida or an out of state seller who is selling a timeshare located in Florida must allow the purchaser of a timeshare ten (10) days after the purchase to cancel the timeshare contract without any penalty.

What is the strongest protection for timeshares?

One of the strongest protections for timeshare consumers is the ten-day cancellation provision . If you have purchased a timeshare, your contract may be void, if the timeshare company did not abide by the cancellation provision.

How long do you have to cancel a timeshare?

It is important that you review all of your timeshare documents within the ten (10) day cancellation period, so that you are aware of your rights and responsibilities under the timeshare agreement. Never rely upon any oral representations from a timeshare sales employee.

Does Florida have a timeshare law?

in Florida Law, Real Estate Law. Florida has strong consumer protection statutes when it comes to the purchase and sale of time shares. If you are seeking to cancel a timeshare contract, it is important to check if the timeshare company complied with all state statutes.

Is a timeshare enforceable?

Unless the provision is in writing, it is not enforceable. The most important lesson when dealing with the purchase of a timeshare is review everything within the ten-day window and if you aren’t’ happy, cancel immediately before the cancellation period expires.

Is it important to review a timeshare contract?

It is important to carefully review the timeshare contract prior to executing it. While timeshare resort may utilize high pressure sales tactics, you still have an obligation to be informed about the contract and your responsibilities under the contract.

How long do you have to cancel a timeshare in Florida?

This means any timeshare property being sold in the State of Florida or even when sold outside of the state but with a property within the state, the law stipulates that buyer must be given 10 working days post-purchase to cancel the contract without an ounce of penalty. Not being able to abide such is itself subject for fraud.

When can you cancel a timeshare contract in Florida?

According to Florida Statutes, a buyer (that’s you!) is fully protected by law when canceling a contract no later than midnight of the 10th calendar day of the contract’s execution date or the very dy when buyer had received ALL documents required for the timeshare sale to be completed. Furthermore, the law also stipulates ...

Can a buyer waive a cancellation right?

Furthermore, the law also stipulates that cancellation right cannot be waived by the buyer or any representative of the buyer. Closing also cannot occur when cancellation period has not expired. Accordingly, an attempt to waive cancellation right of buyer or closing before stipulated cancellation period is considered fraudulent and ...

How long do you have to rescind a timeshare contract in Florida?

In the state of Florida, you have ten days to rescind a timeshare purchase contract. You may also be able to rescind your purchase contract up until you receive all of the remaining required documentation. Florida Statutes Annotated at Title XL, Chapter 721, Sec. 721.10. If you have any questions relating to timeshare law, then you should seek the advice of an experienced attorney. We can help connect you to a reputable attorney. Give us a call at 213-282-5595 or fill out a form on the right side of the page.

What is a timeshare disclosure in Florida?

This is a disclosure that developers must make to disclose important information about the timeshare, which includes: A description of the timeshare. The timeshare plan duration in years.

Where are Florida timeshare laws?

The state of Florida’s timeshare laws can be found in the Florida Statutes Annotated at Title XL, Chapter 721. The laws related to disclosure obligations can be found at Title XL, Chapter 721, Sec. 721.205, and the laws related to timeshare cancellation can be found at Title XL, Chapter 721, Sec. 721.10.

Can you misrepresent a timeshare in Florida?

Answer: Yes, Florida law prohibits timeshare sellers from misrepresenting a number of things, including the location, size, characteristics, or services associated with a timeshare. Timeshare sellers are also prohibited from misrepresenting the buyer’s right to cancel along with any other rights and privileges provided by law.

Can you revert to a timeshare if you stop paying maintenance fees?

Answer: Multiple types, while it is possible that the ownership of a timeshare can just revert to the timeshare company if you stop paying your maintenance fees, most timeshare agreements allow timeshare companies to come after you in court which would likely result in a money judgement against you.

2. Ask a timeshare company to take the property back

Another way to get out of a timeshare is using a timeshare deed-back – it remains a legal and low-cost solution. Contact a resort to consult in terms of giving a timeshare back.

3. Use services of timeshare exit teams

Even better than hiring a lawyer is applying to the experienced teams specialized in a timeshare industry. The professionals will work with your timeshare exit problems to help you get rid of the ownership fast and without any hassle.

When can you cancel a timeshare contract in Florida?

In Florida, if you buy a timeshare, you can cancel the timeshare contract up until midnight of the 10th calendar day following : the date you signed the contract, or. the day on which you received the last of all required documents, whichever occurs later. (Fla.

What happens if you take out a timeshare loan?

If you take out a loan to purchase an interest in a deeded timeshare and fail to make your timeshare mortgage payments or keep up with the assessments, you will likely face foreclosure. In addition to monthly mortgage payments, timeshare owners are ordinarily responsible for maintenance fees, special assessments, utilities, and taxes, collectively referred to as "assessments." (Find out more in Can a Timeshare Be Foreclosed for Nonpayment of Fees or Assessments?)

How much is a timeshare deficiency?

The deficiency is $5,000. In some states, the lender may get a deficiency judgment (a personal judgment) against the borrower for the amount of the deficiency. Whether or not you'll face a deficiency judgment after a timeshare foreclosure depends on state law. In Florida, the lender can't get a deficiency judgment against you after ...

How long does it take to get a refund from a timeshare?

Timeshare owners can cancel any signed contract with a timeshare resale advertiser within 10 days and, if cancelled, the timeshare resale advertiser must provide a full refund to the timeshare owner in 20 days (or within five days after receipt of funds from the cleared check, whichever is later).

Why is it so hard to sell timeshares?

Owners often find it extremely difficult to sell their timeshare because there is virtually no after-market for timeshares. As a result, scam artists have popped up who mislead timeshare owners into thinking that they have someone waiting in the wings that wants to buy the timeshare. But there's a catch — the timeshare owner must pay hundreds or thousands of dollars in upfront fees. Once the fees are paid, the scam artists claim that they were simply offering advertising services for the upfront money paid and no buyer ever materializes.

Is there a timeshare scam in Florida?

Florida law provides the following protections to shield consumers from this type of resale scam. Timeshare resale advertisers are not allowed to claim that there is a buyer interested in the owner's timeshare without providing the potential buyer's name, address, and telephone number.

What is misrepresentation in real estate?

Misrepresent the conditions under which a purchaser may exchange the right to use accommodations or facilities in one location for the right to use accommodations or facilities in another location. Misrepresent the availability of a resale or rental program or resale or rental opportunity.

What is prohibited from a timeshare seller?

Sellers are prohibited from from making any written or oral statement that shall: Misrepresent a fact or create a false or misleading impression regarding the timeshare plan or promotion thereof. Make a prediction of specific or immediate increases in the price or value of timeshare interests.

How long does it take to cancel a timeshare in Florida?

The timeshare cancellation period in Florida is 10 calendar days from either the date you signed the contract or the date you received all documents required to be provided to you by law (including the Public Offering Statement), whichever is later. While Florida does have a lengthy cancellation period, it is very important to note ...

How long does it take to get a refund from Timeshare?

Once the timeshare company receives your notice of cancellation they have 20 days to honor your refund, or until 5 days after your check clears, whichever is later.

Is a timeshare a good investment?

timeshares are a good investment". it is not a timeshare". the maintenance fees will not go up". we would get more points than we actually did". it is easy to sell the timeshare on the secondary market". the company would by the timeshare back if we was not happy".

Can you foreclose on a timeshare in Florida?

Failure to make your timeshare mortgage payments will result in a foreclosure. Failure to pay maintenance fees, special assessments, or ad valorem taxes may also result in foreclosure; though in our experience timeshare companies are more interested in hounding owners for outstanding maintenance fees rather than foreclosing, though they will foreclose eventually.

Does Florida have a timeshare law?

Being the vacation destination it is, it’s no surprise Florida is home to more timeshares than any other state. Thankfully, Florida has many consumer protection laws on the book to protect purchasers, including the Florida Vacation Plan and Timesharing Act. If you are a victim of fraud, misrepresentation, or high-pressure sales tactics, ...

How Can I Get Out of my Timeshare in the State of Florida?

How you’ll get out of your timeshare will depend on whether you are trying to get out before the cooling off period or after the cooling off period. If it has been less than ten days since you signed the contract or purchased the timeshare, you’ll want to put your cancellation in writing and send your cancellation through certified mail.

How to Legally Cancel my Timeshare in the State of Florida?

You only have a few options to legal cancel a timeshare in the state of Florida. If it has been within ten days since the cooling off period of buying your timeshare or signing the contract, you have the legal right to cancel the timeshare.

How to Legally Terminate my Timeshare in the state of Florida

Generally, the only way to legally terminate a timeshare after the cooling off period has passed is by suing the timeshare company or management company. There have indeed been cases across the country where individuals sued big timeshare management companies and won.

Can I Cancel My Timeshare in the state of Florida?

When it comes to canceling your timeshare in the state of Florida, it depends, on timing, it depends on the contract you signed, and it depends on the behavior and actions of the management company and timeshare company. In general, you are not allowed to get out of a timeshare contract because it is a legal contract.

Best Ways to Get Rid of an Unwanted Timeshare in Florida

The timeshare industry is a big industry worth billions of dollars. In America alone, there are millions of people who own a timeshare, many with the intention of enjoying the promise of readily available vacation spots.

What Rights Do you Have as a Timeshare Owner in Florida?

As a means of guarding timeshare owners from being cheated by timeshare developers as well as scammers, there are certain legal rights you can always bank on. The specific provisions of the laws backing these rights vary from state to state.

Getting out of your Floridian Timeshare Effectively

Now that you know some of the rights and entitlements you have as a timeshare owner in Florida, let’s talk about how to get you out of that unwanted contract. Below are viable options you can consider:

Conclusion

All in all, you need to act fast if you really want to get rid of your timeshare in Florida—or anywhere else. Indeed, the more days you spend as a timeshare owner, the more complicated it gets for you to cancel your contract.