Timeshare Newsflash – 27a

Timeshare Newsflash

Is It Possible For Me To Cancel My Timeshare Contract? (Part 1)

Timeshare News Flash - 27, Source: Freeimages, royalty free
Aaronson Law Firm
Orlando, Fl, October 9, 2017:
  • Learn More About How the Attorneys of Aaronson Law Firm Can Help You Cancel Your Timeshare


You’ve attended a timeshare sales presentation and with whatever sales pressure applied to you, despite your better judgment, you signed on the dotted line. Now that sick feeling of despair and disgust comes over you as your head clears from the presentation. What have you done? What can you do to be free of this newfound albatross? You think, “Is It Possible For Me To Cancel My Timeshare Contract?” Fear not – there is hope. In the next few days, we will explore the methods and questions you may encounter while considering the cancellation of your timeshare contract.

Question 1: Can I rescind my timeshare contract within the mandated rescission period?

Let’s take a look at some facts. Firstly, it is useful to note that the word rescission means to revoke, cancel or repeal. Other synonyms are reverse, overturn, overrule, annul, nullify, void – you get the idea. You want to be entirely out of your timeshare contract, as if it had never been signed. Secondly, most states offer a period of time after the signing of the contract in which a buyer may rescind, or cancel, their contract without cause or affect. Let’s call it “buyer’s remorse” – you realize that you don’t want the timeshare and, if you are within the timeshare rescission period of the state, you can fill out the rescission paperwork and send it to the timeshare developer to “back out” of the timeshare purchase. It is best to use certified mail to accomplish this task so that you have an audit trail of activity available to you.

Note that the law that is in force for the state where your timeshare was purchased is the law that applies for your rescission period. Many states require that the timeshare developer include details about the rescission period in force for your timeshare purchase during the sales presentation.

So what are the rescission periods by state? Following, is a simple listing of rescission periods that should illustrate the basic information that you need regarding timeshare rescission periods by state. Note that this listing is not fully comprehensive in nature, but gives you a starting point for your research. One good site for you to visit for more specific information is www.NOLO.com, which gives you a great chart of rescission periods by state which all link to a specific page outlining the laws specific to each state, such as if a rescission period exists for the state, how long it is and if the state laws provide special protections. When you reach the site, search using “timeshare rescission 50 state chart” and you will find the chart in question. Well worth looking into.

But what if you are beyond the rescission period? Our next topic for discussion will reach into the questions involved regarding the cancellation of your timeshare after your rescission period. Can it be done?

Are you concerned about your timeshare and how you can divest yourself of it? Has it become a major burden for your family to bear? The timeshare attorneys of the Aaronson Law Firm< stand ready to provide you with the answers you need regarding your timeshare case. Contact them today for your free consultation – it’s not too late!

Rescission Chart By State

STATE RESCISSION PERIOD
Alabama 5 calendar days after purchase
Alaska 15 calendar days after purchase
Arizona 7 calendar days after purchase
Arkansas 5 calendar days after purchase
California 7 calendar days after purchase
Colorado 5 calendar days after purchase
Connecticut 5 calendar days after purchase
Delaware 5 calendar days after purchase
District of Columbia 15 calendar days after purchase
Florida 10 calendar days after purchase
Georgia 7 calendar days, not including Sundays and holidays
Hawaii 7 calendar days after purchase
Idaho 5 calendar days after purchase
Illinois 5 calendar days after purchase
Indiana 72 hours, not including Sundays or legal holidays
Iowa 5 business days after receiving required documents
Kansas 3 business days after purchase
Kentucky 3 or 5 business days
Lousiana 7 business days after purchase
Maine 10 business days after purchase
Maryland 10 business days after purchase
Massachusetts 3 business days after purchase
Michigan 9 business days after purchase
Minnesota 5 business days after purchase
Mississippi 7 business days after purchase
Missouri 5 business days after purchase
Montana 7 business days after purchase
Nebraska 3 business days after purchase
Nevada 5 business days after purchase
New Hampshire 5 business days after purchase
New Jersey 7 business days after purchase
New Mexico 7 business days after purchase
New York 7 business days after purchase
North Carolina 5 business days after purchase
North Dakota No rescission period specified by law; check your contract
Ohio 3 business days after purchase
Oklahoma 5 business days after purchase
Oregon 5 business days after purchase
Pennsylvania 7 business days after purchase
Rhode Island 5 business days after purchase
South Carolina 5 business days after purchase
South Dakota 7 business days after purchase
Tennessee 10 calendar days if purchaser inspected site, 15 calendar days if purchaser never saw the site, and time limit doesn’t begin until the purchaser receives the public offering statement
Texas 6 business days after purchase
Utah 5 business days after purchase
Vermont 3 business days after purchase
Virginia 7 calendar days, unless 7th day is a Sunday or legal holiday
Washington 7 calendar days after purchase
West Virginia 10 calendar days after purchase
Wisconsin 5 calendar days after purchase
Wyoming 3 calendar days after purchase