How to Write a Timeshare Rescission Letter
If you recently purchased a timeshare and changed your mind, a timeshare rescission letter may be an important step toward canceling the purchase. Rescission gives eligible buyers a limited period to withdraw from a timeshare transaction, but requirements and deadlines vary depending on the purchase and applicable law.
The window can be short, so it is important to review your purchase documents and act quickly. This guide explains what to include in a rescission letter, where to send it, and what to do after it is submitted.
What Is a Timeshare Rescission Period?
A timeshare rescission period is a limited period during which a buyer may have the right to cancel a timeshare purchase. Finn Law Group’s discussion of statutory protections for timeshare purchasers explains how these protections can vary, while its timeshare rescission research discusses rescission rates and buyer regret.
That research has reported rescission rates as high as 15%. The same research found that 85% of buyers regretted their purchase, citing reasons including money, fear, confusion, intimidation, and distrust.
Because the rescission period can be short, review your contract and other purchase documents as soon as possible after signing.
How to Write a Timeshare Rescission Letter
A rescission letter should be clear and direct. You do not need to provide a lengthy explanation for why you want to cancel. The letter should identify the purchase and clearly state that you are exercising your right to rescind.
Include:
- Your full name as it appears on the contract
- Mailing address, phone number, and email address
- Timeshare company name
- Resort or property name
- Purchase date
- Contract or account number, if available
- A clear statement that you are rescinding the timeshare purchase
If more than one person is listed as a purchaser, make sure the letter identifies each purchaser appropriately.
For additional guidance on reviewing your purchase documents, see Buying a Timeshare? Read the Fine Print.
Where Do You Send a Timeshare Rescission Letter?
Finding the correct address is critical. The address for your rescission letter may not be the physical address of the resort where you purchased the timeshare.
Check your purchase agreement and other documents for the address and delivery instructions provided for rescission. The Public Offering Statement or Prospectus may also contain information about the cancellation process.
Review timeshare contract considerations for additional information about the documents and terms surrounding a timeshare purchase.
Do not assume that sending your letter to the resort’s front desk or general business address is sufficient.
How Should You Send Your Rescission Letter?
Follow the delivery instructions in your purchase documents and any applicable requirements.
Because the rescission period is limited, make sure you understand when your notice must be submitted. Keep a copy of your letter and documentation showing when and how it was sent.
You should also keep your purchase agreement, Public Offering Statement or Prospectus, and any communications with the timeshare company.
What Happens After You Send the Letter?
Keep all records related to your rescission request. If the timeshare company confirms the cancellation, save that confirmation with your other documents.
If the company disputes your rescission or says your letter was not valid, ask for the reason in writing and preserve the response. Your contract, rescission letter, delivery records, and other purchase documents may be important in determining what happened.
What If You Missed the Rescission Period?
The rescission period is limited, so waiting can make canceling a timeshare purchase more difficult.
If you believe the period has expired, do not assume there are no other options. Depending on the circumstances, there may be other issues involving the contract, disclosures, or representations made during the sales process that should be reviewed.
You may also want to learn more about timeshare cancellation and how timeshare maintenance fees can affect owners who remain in an unwanted contract.
Frequently Asked Questions About Timeshare Rescission Letters
How long do I have to send a timeshare rescission letter?
The rescission period is limited and varies depending on the purchase and applicable requirements. Finn Law Group’s rescission research notes that these periods commonly range from five to ten days. Review your purchase documents immediately after signing to determine the applicable deadline.
Can I email my timeshare rescission letter?
Follow the notice and delivery instructions in your purchase documents. Do not assume that an email or phone call is sufficient simply because you have notified the timeshare company of your intent to cancel. Your contract may specify how rescission must be submitted.
Do I need to explain why I want to rescind my timeshare?
Your letter should clearly state that you are exercising your right to rescind. A lengthy explanation is generally unnecessary. Focus on clearly identifying the purchase and communicating your intent to cancel.
What if the timeshare company says my rescission letter is invalid?
Ask the company to explain why it believes the rescission is invalid and request that response in writing. Keep your contract, rescission letter, delivery records, and all related communications. If there is a dispute about your rescission rights, an attorney can review the circumstances and applicable documents.
Can I cancel my timeshare after the rescission period ends?
Once the applicable rescission period has expired, the rescission right may no longer be available. However, other legal or contractual issues may apply depending on the circumstances surrounding the purchase. If you missed the deadline, consider having the contract and sales process reviewed before assuming you have no options.
Need Help With Your Timeshare Cancellation?
If you recently purchased a timeshare and are concerned that you made a decision you do not want to keep, acting quickly is important.
Contact Finn Law Group to discuss your timeshare situation and learn more about your options.
Visit Finn Law Group for more information.
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