1. Cancellation – This is an option for timeshare owners who believe they have been victims of any of the following:
a. Fraud – A contract can be canceled because of fraud if one person knowingly made a material misrepresentation that the other person reasonably relied upon, and that disadvantaged the other person. A material misrepresentation is an important untruth. The contract you made may be set aside on the grounds of fraud. Fraud requires an outright lie, or a substantial failure to state a material fact about an important part of the contract. Fraud will invalidate a contract.
b. Misrepresentation – Misrepresentation is a contract law concept. It means a false statement of fact made by one party to another party, which has the effect of inducing that party into the contract.
c. Breach of Contract – A breach of contract – also called a default – is one party’s failure, without a legally valid excuse, to live up to any of his or her responsibilities under a contract. A breach can occur by failure to perform as promised.
If you believe you are a victim of fraud, misrepresentation or that your contract has been breached, contact us today for your Free Consultation.
2. Rental or Resale – This is an option for a limited number of timeshare owners who are fortunate enough to own timeshares in certain seasons and locations only:
There really is a rental /resale market, but the truth is, it is very limited and very few timeshare owners actually have timeshares that can be rented or sold. As a general rule, if you owe money for having financed the purchase of your timeshare, then it will not have any resale value. Unfortunately, there are many timeshare owners who have been taken advantage of by unscrupulous businesses offering to rent or sell their timeshares properties for a fee, all the while knowing that the timeshare owner’s properties will never rent or sell.
3. Charitable donation – This may or may not be a viable option, depending on your circumstances. We will explore this option once having obtained a value estimate if you own the timeshare free and clear of a mortgage or lien. If so, you may be entitled to a tax write-off of up to $6,000.
If you are interested in cancelling your timeshare and want to learn more about your owner options, schedule a free consultation with our dedicated timeshare attorneys today. Let our experience work for you.