Why Cancel?

It’s not uncommon for an absolutely stunning vacation to culminate in timeshare ownership – locking in a yearly vacation at the same great destination. On returning home, however, some new owners find themselves with cold feet as the reality of yearly maintenance sinks in. If this describes your situation, you’ll need to get your cancellation in writing and to your resort quickly.

Know Your Rescission Deadline

After signing your contract, you have a brief window of time to reconsider your purchase. Known as the rescission, or “cooling off” period, it’s a determined number of days, varying by state, where you can cancel your timeshare purchase and receive a full refund.

The average rescission deadline is 5-7 days, but it’s best to do your research. In some states, you may have over a week to get your documents in order, in others your deadline may approach in only three days. Additionally, some states exempt Sundays and holidays in their deadline window, while others count all calendar days.

Write Your Timeshare Cancellation Letter

We’ve put together a helpful resource with all you need to know about timeshare cancellation. And when it comes to actually writing your letter, know that it doesn’t have to be overly elaborate, though it does have to be extremely clear and thorough. The necessary details may vary with the brand, but here are some crucial elements to include:

• Your 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

Confirm Your Timeshare Cancellation has been Received

It’s one thing to send your timeshare cancellation letter. It’s equally important to make sure it’s received! Your contract will outline the details of how to format and send your rescission letter. You must follow these instructions exactly, or risk your letter being dismissed as invalid. And with such a brief rescission period, there’s no room for error. 

Be sure to make copies of all your documentation, from contract to letter to faxes. Certain states require receipt not a minute past 11:59 PM on deadline day, so confirm everything is dated properly, with ample time for delivery by your deadline (don’t forget to request a return receipt!).

When writing a timeshare cancellation letter, addressing all industry requirements may seem an overwhelming task, but it will be worth it when you receive that deposit back in full.

Learn more about timeshare cancellation and how to find a timeshare cancellation attorney you can trust.

Beyond Rescission

If it’s too late to send your cancellation letter, no worries. You can still pursue cancellation, just make sure to work with a professional. A timeshare cancellation attorney may be able to walk through the process with you, or – if you’re all caught up with your payments and fees – your resort may even agree to buy back your timeshare themselves.

We’ve put together helpful info on the ins and outs of timeshare cancellation. Another great resource is ARDA’s Coalition for Responsible Exit. ARDA has over 50 years experience conducting industry research and advocating for timeshare owners. Their Coalition for Responsible Exit provides tools to help you make informed exit decisions, while avoiding scams and hurdles along the way.

And if annual fees are looming, consider renting your timeshare this year! Our KOALA customer care team can help you create your listing – and provide ease on your road to cancellation. Contact us at 1-833-KOALA-CO.