How to terminate ownership of a time share
Let’s admit it: Time share scams are on the rise, and trying to get out of the contract can be a big headache! The truth is, however, that a time share can be a good-quality purchase for those who enjoy revisiting the same vacation spot every year, but certainly not for most people. Unfortunately, timeshare presentations are awfully high pressure, and most people who attend one of them end up signing the contract, without even knowing what they are getting into. You might be one of those people. Read the following paragraphs, and learn more on how to terminate ownership of a time share.
Before getting started, first we have to understand how fractional ownership works.Timeshare ownership is basically the right to use the resort for a certain number of years—usually from 5 to 50— during a specific week of the year. It is very important to highlight that a time share is a purchase and not a financial investment, being that you have to pay the initial purchase price, plus the periodic timeshare fees, whether you use your unit or not.
These are the biggest and most common timeshare complaints:
- Timeshare maintenance fees are too high, and they increase every year
- Timeshare salespeople are rude, and the sales presentations are misleading and high-pressure
- The contract does not state clearly how to terminate ownership of a time share
- Time shares are not easy to swap, to sell or to rent
- You have to make reservations almost a year earlier to be able to use it
These are the easiest ways on how to terminate ownership of a time share:
Sell your time share: Although it could be the easiest solution, the truth is that time shares are not easy to sell, in fact, it is almost impossible to sell a timeshare. The resale market is low, and the supply exceeds the demand enormously.
Transfer your time share: Timeshare transfer is not an easy process and it may be more trouble than it’s worth. You have to find someone who is willing to take on your time share, and that can be an unfeasible task. It also involves lot of negotiations with the resort and some lawyers, which can take many years.
Donate your time share: Charity organizations are not taking time shares anymore, for the simple reason that they are not willing to take on the yearly fees and other expenses that a time share might generate.
Without a doubt, timeshare cancellation is the best and easiest solution to get rid of an unwanted time share. Once the contract is properly cancelled, the strings attached to the resort will be gone forever. Nevertheless, it is important to do the cancellation through the right people. There are many timeshare cancel professionals that ask for an upfront fee, and then they disappear.
At Mexican Timeshare Solutions, we assist timeshare purchasers who were scammed fraudulent timeshare companies. As specialists in the timeshare industry, we are committed to offering professional help in a fast, friendly and experienced service to clients. We do not request any upfront fees, meaning, if our associates cannot cancel your timeshare contract successfully, you do not pay us a penny. Contact MTS today for a free consultation, and get out of your time share as soon as possible!
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