How to Cancel a Timeshare: All Your Questions Answered

PDF download Download Article
Getting out of your timeshare contract with a full refund
PDF download Download Article

Are you having second thoughts about your timeshare purchase? Timeshare cancellation without penalty is possible, but it's important to act quickly! In this article, we'll explain everything you need to know about cancellation deadlines and getting legally released from your timeshare contract with a full refund. Keep reading for our complete guide.

Things You Should Know

  • Timeshare cancellation means exiting a timeshare purchase without penalty and being released from the contract with a full refund.
  • Most states require buyers to cancel a timeshare during the rescission period. Rescission time frames vary by state, but it’s usually 3-15 days after purchase.
  • Type up an official cancellation letter and send it via certified mail to the timeshare company before midnight on the last day of your state’s rescission period.
Section 1 of 5:

What is timeshare cancellation?

PDF download Download Article
  1. {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/9\/9b\/Timeshare-Cancellation-Step-1.jpg\/v4-460px-Timeshare-Cancellation-Step-1.jpg","bigUrl":"\/images\/thumb\/9\/9b\/Timeshare-Cancellation-Step-1.jpg\/v4-728px-Timeshare-Cancellation-Step-1.jpg","smallWidth":460,"smallHeight":345,"bigWidth":728,"bigHeight":546,"licensing":"<div class=\"mw-parser-output\"><p>\u00a9 2024 wikiHow, Inc. All rights reserved. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. This image is <b>not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. This image may not be used by other entities without the express written consent of wikiHow, Inc.<br>\n<\/p><p><br \/>\n<\/p><\/div>"}
    Purchasing a timeshare is a significant investment, and some people change their minds about it after putting down the initial deposit and signing the contract. Cancelling a recent timeshare purchase without penalty means you’re released from your contract with a full refund, and it's possible as long as you act quickly.
    • You're not legally obligated to provide a reason or justification for your cancellation to the seller. [1]
    2. Advertisement
Section 2 of 5:

How long do you have to cancel a timeshare?

PDF download Download Article
  1. {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/3\/39\/Timeshare-Cancellation-Step-2.jpg\/v4-460px-Timeshare-Cancellation-Step-2.jpg","bigUrl":"\/images\/thumb\/3\/39\/Timeshare-Cancellation-Step-2.jpg\/v4-728px-Timeshare-Cancellation-Step-2.jpg","smallWidth":460,"smallHeight":345,"bigWidth":728,"bigHeight":546,"licensing":"<div class=\"mw-parser-output\"><p>\u00a9 2024 wikiHow, Inc. All rights reserved. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. This image is <b>not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. This image may not be used by other entities without the express written consent of wikiHow, Inc.<br>\n<\/p><p><br \/>\n<\/p><\/div>"}
    After purchasing a timeshare, you enter a legally mandated “cooling off” or “rescission” period during which time you’re legally allowed to back out of the timeshare—no questions asked. The exact time frame varies by state, but most states allow somewhere between 3 to 15 days for rescission. You must send a formal notice of cancellation to the seller within the rescission period to be released from your contract without penalty. [2]
    • For example, in Colorado, a buyer has 5 days to rescind a timeshare agreement. [3] In Washington, you have 7 days. [4]
Section 3 of 5:

How does timeshare cancellation work?

PDF download Download Article
  1. {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/3\/3a\/Timeshare-Cancellation-Step-3.jpg\/v4-460px-Timeshare-Cancellation-Step-3.jpg","bigUrl":"\/images\/thumb\/3\/3a\/Timeshare-Cancellation-Step-3.jpg\/v4-728px-Timeshare-Cancellation-Step-3.jpg","smallWidth":460,"smallHeight":345,"bigWidth":728,"bigHeight":546,"licensing":"<div class=\"mw-parser-output\"><p>\u00a9 2024 wikiHow, Inc. All rights reserved. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. This image is <b>not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. This image may not be used by other entities without the express written consent of wikiHow, Inc.<br>\n<\/p><p><br \/>\n<\/p><\/div>"}
    Your state’s rescission time frame is usually noted somewhere on the contract, although it might be buried in the fine print. If you can’t find the information, look up your state’s specific laws about rescission time periods online. [5]
    • Sellers may include special instructions for cancellation in the contract itself (again, check the fine print). Be sure to follow their specific instructions exactly. For example, some companies require cancellation letters to be delivered via certified or registered mail.
  2. {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/c\/c8\/Timeshare-Cancellation-Step-4.jpg\/v4-460px-Timeshare-Cancellation-Step-4.jpg","bigUrl":"\/images\/thumb\/c\/c8\/Timeshare-Cancellation-Step-4.jpg\/v4-728px-Timeshare-Cancellation-Step-4.jpg","smallWidth":460,"smallHeight":345,"bigWidth":728,"bigHeight":546,"licensing":"<div class=\"mw-parser-output\"><p>\u00a9 2024 wikiHow, Inc. All rights reserved. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. This image is <b>not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. This image may not be used by other entities without the express written consent of wikiHow, Inc.<br>\n<\/p><p><br \/>\n<\/p><\/div>"}
    Even if your state allows you to cancel a contract verbally, it's important to send your cancellation notice in writing so that you have a paper trail and proof that you acted in accordance with state laws. After you write your cancellation letter , print it out so can you mail a hard copy to the timeshare company. [6]
    • Be sure to print out a few extra copies of the letter and keep them for your own records.
  3. {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/d\/db\/Timeshare-Cancellation-Step-5.jpg\/v4-460px-Timeshare-Cancellation-Step-5.jpg","bigUrl":"\/images\/thumb\/d\/db\/Timeshare-Cancellation-Step-5.jpg\/v4-728px-Timeshare-Cancellation-Step-5.jpg","smallWidth":460,"smallHeight":345,"bigWidth":728,"bigHeight":546,"licensing":"<div class=\"mw-parser-output\"><p>\u00a9 2024 wikiHow, Inc. All rights reserved. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. This image is <b>not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. This image may not be used by other entities without the express written consent of wikiHow, Inc.<br>\n<\/p><p><br \/>\n<\/p><\/div>"}
    In most states, a timeshare cancellation is effective on the date the cancellation letter is postmarked. As long as the postmarked date is before midnight on the final day of your state's rescission period, you shouldn’t have any problems completing the cancellation process.
    4. Advertisement
Section 4 of 5:

What to Include in a Cancellation Letter

PDF download Download Article
  1. {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/8\/82\/Timeshare-Cancellation-Step-6.jpg\/v4-460px-Timeshare-Cancellation-Step-6.jpg","bigUrl":"\/images\/thumb\/8\/82\/Timeshare-Cancellation-Step-6.jpg\/v4-728px-Timeshare-Cancellation-Step-6.jpg","smallWidth":460,"smallHeight":345,"bigWidth":728,"bigHeight":546,"licensing":"<div class=\"mw-parser-output\"><p>\u00a9 2024 wikiHow, Inc. All rights reserved. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. This image is <b>not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. This image may not be used by other entities without the express written consent of wikiHow, Inc.<br>\n<\/p><p><br \/>\n<\/p><\/div>"}
    You don't have to give a reason for canceling the timeshare in your cancellation letter, but it’s important to note in the first 1-2 sentences that the purpose of the letter is to rescind the contract. Go with something very direct like, "I am contacting you within the rescission period to cancel this timeshare contract." [8] Additionally, include the following details in your letter:
    • Current date
    • Your name as it's written on the contract
    • Your address, phone number, and email
    • Name of the timeshare company
    • Brief description of the timeshare (taken from the timeshare paperwork)
    • Date the timeshare was purchased
Section 5 of 5:

What if the cancellation window has passed?

PDF download Download Article
  1. {"smallUrl":"https:\/\/www.wikihow.com\/images\/thumb\/c\/cc\/Timeshare-Cancellation-Step-7.jpg\/v4-460px-Timeshare-Cancellation-Step-7.jpg","bigUrl":"\/images\/thumb\/c\/cc\/Timeshare-Cancellation-Step-7.jpg\/v4-728px-Timeshare-Cancellation-Step-7.jpg","smallWidth":460,"smallHeight":345,"bigWidth":728,"bigHeight":546,"licensing":"<div class=\"mw-parser-output\"><p>\u00a9 2024 wikiHow, Inc. All rights reserved. wikiHow, Inc. is the copyright holder of this image under U.S. and international copyright laws. This image is <b>not<\/b> licensed under the Creative Commons license applied to text content and some other images posted to the wikiHow website. This image may not be used by other entities without the express written consent of wikiHow, Inc.<br>\n<\/p><p><br \/>\n<\/p><\/div>"}
    Let them know that you want to work on an exit strategy and ask if they have deed-back or surrender programs that you can take advantage of. The timeshare company (or developer) will explain the exit solutions they offer and what criteria you need to meet. You won't be able to recoup any money you've paid so far, but deed-back and surrender programs allow you to get out of the timeshare without paying it off. [9]
    • Some states allow cancellations after the rescission deadline, but you’ll need to hire an attorney and the process may take a while.
    • Consider renting out your timeshare to help pay it off (just ask the timeshare developer if it's allowed).
    • Be wary of third-party timeshare exit companies—most are scams. They often ask clients to pay a large sum upfront and then never deliver on their services.
    • If you've paid off the timeshare completely, consider giving it to a friend or family member. You won't recoup any money, but they'll at least take over the annual maintenance fees on the property and be responsible for it moving forward.
    2. Advertisement

Expert Q&A

Search
Add New Question
  • Question
    How can I sell a timeshare?
    Arun Ghosh Aravindakshan
    Real Estate Expert
    Arun Ghosh Aravindakshan is a Real Estate Expert and Licensee with over five years of experience, specializing in commercial real estate. He recently received a certification in Commercial Real Estate Analysis and Investment from the MIT School of Architecture and Planning. As the founder of Hutfin.com, Arun created an online marketplace designed to streamline the selling and buying of commercial property. Previously, he worked as a certified Cloud Architect and DevOps Engineer and is a member of prestigious organizations such as REIN, ISACA, EC-Council, and PMI. He has also served as a U.S. Army Officer. He holds a Bachelor's Degree from the University of Kerala and a Master's Degree from the Hough Graduate School of Business at the University of Florida.
    Arun Ghosh Aravindakshan
    Real Estate Expert
    Expert Answer
    You can sell a timeshare by contacting a real estate agent specializing in timeshares. These realtors have immense experience and market knowledge, which means they will know how to represent you effectively. Most of the time, you will not have to pay anything in advance; rather, after the selling process is over, you can make payments for the services to the agent or an exit company. That way, you only pay for the result they bring in, and it offers you some financial backstop in the sales process.
    Thanks! We're glad this was helpful.
    Thank you for your feedback.
    If wikiHow has helped you, please consider a small contribution to support us in helping more readers like you. We’re committed to providing the world with free how-to resources, and even $1 helps us in our mission. Support wikiHow
    Yes No
    Not Helpful 0 Helpful 0
Ask a Question
200 characters left
Include your email address to get a message when this question is answered.
Submit
      Advertisement

      Tips

      Submit a Tip
      All tip submissions are carefully reviewed before being published
      Name
      Please provide your name and last initial
      Submit
      Thanks for submitting a tip for review!

      You Might Also Like

      10 Ways to Learn if Anyone Died at Your Home
      How to
      Calculate Acreage
      How to
      Rezone Property
      How to
      Set Up an Escrow Account
      Where Can You Find Private Landlords?
      How to
      Check Zoning Laws
      How to
      Subdivide Property
      How to
      Get Free Land in the USA
      When to Walk Away After a Home Inspection
      How to
      File a Complaint Against a Real Estate Agent
      How to
      Cover Carpet in a Rental
      How to
      Advertise an Estate Sale for Free
      How to
      Set up a Life Estate
      3 Ways To Find Property Liens, Plus What To Do if You Find One
      Advertisement

      References

      1. ↑ https://www.debt.org/real-estate/timeshare-cancellation/
      2. ↑ https://www.debt.org/real-estate/timeshare-cancellation/
      3. ↑ https://codes.findlaw.com/co/title-6-consumer-and-commercial-affairs/co-rev-st-sect-6-1-703.html
      4. ↑ https://www.atg.wa.gov/cancellation-rights
      5. ↑ https://www.debt.org/real-estate/timeshare-cancellation/
      6. ↑ https://www.debt.org/real-estate/timeshare-cancellation/
      7. ↑ https://www.debt.org/real-estate/timeshare-cancellation/
      8. ↑ https://www.debt.org/real-estate/timeshare-cancellation/
      9. ↑ https://money.usnews.com/money/personal-finance/family-finance/articles/how-to-get-out-of-a-timeshare

      About This Article

      Thanks to all authors for creating a page that has been read 12,966 times.

      Did this article help you?

      Advertisement