When you cancel a timeshare contract, you end the ownership of a timeshare property. Although a timeshare is an obligation for a lifetime, one can terminate their agreement any time after a standard period. But it’s also essential to remove the unwanted contract before it’s too late, or it will become extremely challenging to find an appropriate exit program.
The process of canceling the timeshare is also easy. When a person purchases the contract, he automatically enters a recession period or cooling-off period. During this period, he can either cancel their purchase, get the money back, or talk to their resort to call off the contract without any responsibility. For more effective results, the person must declare their intent and hand over the contract to the original seller within the recession period.
But once you have passed this phase, you will be required to go through the process of terminating the contract. This post is all about it! In addition to this, we will also find out – is Timeshare Freedom Group a legit company or not. So let’s dive into it!
Understanding Contract cancelation or termination
As stated earlier, one can easily cancel their contract by calling it off under the recission or cooling-off period. Moreover, each timeshare contract has specific laws and terms wrapped in legal language, which general timeshare owners can easily overlook. To cancel the contract by yourself, the first thing is to read your contract carefully and hire an attorney to understand the legal terms. Else you can also withdraw your contract by writing an email that includes details –
- Names of the signed agreement and timeshare developer
- Mention the date of the timeshare contract purchase
- Mention the contract paperwork date along with the total price paid
- Brief description of the timeshare contract
- Personal basic details
- Name of the timeshare company or association
Before you terminate
Before canceling your contract, we recommend you consult your case with a timeshare developer. Most timeshare developers have a handful of options available which may eliminate the need to hire an exit company. But it’s important to gather your essential documents in advance to have an overview of your case and terminate your contract legally. These documents include the following –
- Membership contracts
- Timeshare Insurance details
- Any due amount of pending maintenance fee
- Proof of recent or last payment
- Real estate timeshare taxes
- Documented rules, regulations, and expectations from the owner
- And management of the timeshare resort
Importance of hiring a timeshare company
As time-sharing companies work with attorneys, they will help you understand the clause made under the contract. Most people are unaware of these terms, so most purchases made against the timeshare property are unplanned.
We recommend you think twice if you are looking for a DIY process to cancel the contract. It might be time-consuming, and if you have passed the cooling-off period, it might even be quite expensive. The best idea is to hire a timeshare company and let them proceed with the legal formalities of termination.
Why Choose Timeshare Freedom Group?
Timeshare freedom group is one of the leading, certified, and well-reputed companies in the United States. With years of experience, they have assisted their clients in terminating unwanted timeshare contracts. And not just arrangement, this company also helps eliminate maintenance fees and mortgage debt. Although the company is not a law firm, they have a good working relationship with attorneys and even hire them in case any contract requires legal proceedings. TFG prevents you from falling prey to the exit companies who work for their profits and never lets you end their contract.
If you are still in doubt “Is Timeshare Freedom Group a legit company”, this timeshare company is a legit company that supports a reliable escrow payment option. It keeps its clients’ money in a strict security system to keep the data encrypted.
Canceling a timeshare is a complex process! Although you cancel your contract independently, the process is time-consuming and might even require an attorney, which is an expensive deal. So, the best idea is to hire a professional or certified timesharing company for better assistance. Next time before you plan to terminate the contract, refer to this guide and make an informed decision.