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How To Cancel A Timeshare? Despite the fact that timeshare gives great vacation experience to its owner, it is believed to be quite expensive. Almost everyone is trying to cut cost these days due to the economic downturn we are experiencing and for that, it may be smarter for the owners to have his or her timeshare contract cancelled. For this reason, he/she could opt for vacations that are cheaper or perhaps, use the money on things that are more important. On the other hand, if the owner had just purchased a timeshare and has decided to get rid of such, he or she might do so without having to forfeit his or her initial payment by getting a rescission period. In the US, almost every single state has a rule for rescission or simply the timeframe to which the buyer can still change his/her mind and cancel sales contract without having to forfeit any money. But you must be aware that the period of rescission is going to vary from one state to another. First, you’ve got to check the contract for clause saying something about rescission period. Everything you need to know is listed in the contract and when you wish to submit a rescission request, you can look for specific details that are concerning the deadlines in contract. Then after, you have to note the rescission deadline ASAP and also, the instructions on how to cancel timeshare successfully.
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You need to make certified letter which stipulates that you like to cancel your timeshare as soon as you’ve found the information needed from your contract. Try to make it short and also, take note that you do not need to explain everything. One thing that you have to remember is that, they know that you are only exercising your rights to rescind contract by terms of the agreement. Now in the cancellation letter, you’ve got to include your include your address, name, date of purchase and contract number. As soon as the deposit was taken, you have to request its return. In other cases, the company will be giving you a form in order to make the process a lot simpler and you can take advantage of that.
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Above everything else, prior to the cancellation deadline of the timeshare contract, you have to send your rescission letter. With certified letter, you could demand signed receipt which indicates that they need to respond. Not only that, you have to make copies of all the documentation and be sure that it’s postmarked before the deadline. Apart from that, you have to make efforts in making copies of all documentation and see to it that it’s postmarked prior to the deadline. This way, you got proof that you’ve mailed it on time if ever there are some conflicts in the future.