Cancel Timeshare

How To Cancel Timeshare After Grace Period

Timeshares allow their owners to take advantage of visiting luxurious apartments and resorts every year for around a week. Herewith, timeshare companies require individuals to pay high annual maintenance fees that might become a reason why owners decide to get out of their ownership. People should follow a short window of time called a grace period to cancel timeshare legally. But what to do if I already miss this period? We have some other options for you. Keep reading to discover how to cancel a timeshare contract after grace period.

What is a grace period?

Many timeshare owners ask – is there a grace period to cancel timeshare? We’ll try to explain. Each individual who has purchased a timeshare receives a granted right to a so-called rescission period. A short time enables timeshare owners to cancel their purchase and get out of arrangement legally without an issue. Every state’s laws determine the length of a grace period differently, but it’s often fairly brief. A grace period usually does not exceed a few days. 

For instance, a rescission period lasts ten days in Florida, while Hawaii determines a grace period for seven days. However, many owners decide to get rid of their property much later than a grace period ends, so they seek other effective ways of getting out of ownership.

How to cancel timeshare after grace period?

1. Use a deed-back program of your resort

Once you miss the grace period, act quickly and contact your timeshare company. Some resorts offer their clients a deed-back program that enables owners to turn a property back to a resort and get money for a timeshare back. Clarify in a timeshare company whether you can return property or not. If yes, don’t miss your chance!

2. Post-rescission cancellation

Some states allow individuals to cancel the ownership after a rescission period passes. However, you need to contact your attorney or lawyer in terms of such an ability.

3. Contact an attorney

If the timeshare licensing grace has expired, you need to work with a lawyer. Attorneys who specialize in timeshare cases will review your contract regarding any mistakes. Suppose you have experienced misleading or misrepresentations from a timeshare company within a purchasing process to encourage the sale. In that case, you still have a chance to cancel a timeshare contract due to fraud.

4. Sell your property

For some timeshare owners, selling their property remains an effective solution. Individuals can list their property on online forums or timeshare resale markets. Many timeshare forums and websites allow owners to list their properties free of charge. 

Different auction charges, including eBay, charge owners a flat-free listing. Additionally, the other websites don’t require owners to pay fees for listing or membership. Avoid scams in reselling your timeshare, like paying upfront fees for a sale agent.