If you are one of the many timeshare owners currently wondering what to do to get rid of one then, you are not alone. Timeshare has been a fodder for complaints in the last 5 years or so. Across the US, thousands had been plaguing the resale markets and resort developers in the hope of getting their money back. Each state in the US, however, has distinctive laws concerning its cancellation. If you want to know how to cancel a timeshare contract in Florida, you are in the right place.
10-Day Cancellation Period
Before getting deeper into the step by step process of canceling a timeshare contract in Florida, it is imperative to double check if said timeshare management company duly complied to the state’s statutes. In Florida, the 10-day cancellation provision offers well-rounded protection for consumers giving them plenty of time to “think things over”. This consumer protection must be duly stipulated on the contract itself. 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.
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 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 that such closing tactic is deemed voidable for a year even when cancellation period had already expired.
Warning! Be wary of some timeshare sales opportunists though. Some may lure you into signing then, informing you that said documents will be completed then, mailed to your home and that you have a “grace period” of 10 days to cancel once received. As always, read the fine print as some unscrupulous sellers may have already provided the complete documents and had them duly signed by you, of course. This initial sales session may actually kickstart your 10-day cancellation period without you knowing.
Step-by-Step Cancellation Process
If you are certain that timeshare contract is still within the 10-day deadline or that there’s enough evidence of fraud being done during sales, immediately start cancellation process with these steps:
1. Send notice of timeshare cancellation via writing. Do so via registered mail and email. The former will help guarantee that mail is received and had a record on who received it making it an inarguable legal defense when problem is escalated to court. Email settings can also be tweaked in such a way that you get notified once content is opened by the recipient. Just remember to get official email address to guarantee protection.
2. Remember to include important information concerning your timeshare contract when sending notification to cancel. This includes:
- Name of timeshare owner
- Address, phone number, email address and other pertinent contact details
- Description of timeshare property
- Timeshare company
- Date of purchase
- Reason for rescinding contract
Make sure these items are carefully and legibly laid out on the cancellation statement. Send it by hand or via registered mail afterwards.
3. If you consider to make a follow-up by phone, remember to put things on record and note down call log (number being called, date, time, with whom) for future reference.
Truly, there is hope when needing to cancel a timeshare in Florida. These steps above can help protect yourself before getting so engrossed in the financial turmoil of hefty annual fees. When things still go awry, you may also seek out the assistance of a legal counsel with years of timeshare settlement experience under his or her belt. As always, there is always that light at the end of the tunner if you know where to look.