Timeshare is not always a good investment because
every day many cases arises where people get caught in the fake representation
and sign a contract in hurry but later on they realize that they have made a
mistake and wanted to rid of the timeshare contract as soon as possible. Timeshare
cancellation letter give you the right to rescind the contract in a legal way. According
to the US law, every contract has cool off period which is called as rescission period.
It allows you some number of days within which you can cancel the contract
without any penalty. The length of this period varies by state to state but it
must be of at least five days long. In Florida, it is of ten days. The purchaser
can cancel the contract until midnight of the 10th day from either
the date when it was signed or the day purchaser has received the documents.
If your rescission period has not been expired you
can easily get out of the contract without even hiring a lawyer and can demand
a refund for the deposit you have made. But if you found that it is not valid
yet, you still need not to worry. You just need to consult a good timeshare
attorney and write a contract cancellation letter.
For this you need to do some simple steps:
- Write your name, address, purchase date and contract number at the top of the page
- Write the timeshare company’s name and address
- Give the valid and appropriate reason of your cancellation decision
- If you are in valid cancellation period also mention the refund you wanted
The company will refund the money within
20 days after the receiving of the timeshare
cancellation letter. Send this
letter through a certified mail and don’t forget to keep the copy of it so that
it will be remain with you as a proof that you have inform the timeshare
company about your decision.
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