How to Terminate Ownership for a Time Share in Florida
Many people have turned to timeshares as an enjoyable and affordable way to vacation in Florida. If buying a vacation home is a reach, timeshares permit a more reasonable option for families who want a home away from home without feeling guilty about only using it on occasion. However, if you have a timeshare for a property in Florida and need to get it off your hands, you may have some work to do. You will need to make sure to cancel your timeshare in the proper manner to avoid being penalized.
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Instructions
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Terminate without penalty if within the time frame. If you are within the 10 working day time frame from the date you signed the timeshare contract, Florida law gives you the right to cancel without penalty and all payments you had made will be returned to you within 20 days (see Resources for link). Send written notice via mail that provides for a time stamp and a signature.
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Read your contract. Find out exactly what your timeshare contract says regarding termination. You will want to see if there are terms regarding the time frame or method for notifying the owner of your termination as well as the cost or penalty involved in an early termination. If you are outside of the three-day free cancellation time frame, you must follow the terms of your contract.
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Contact the company you signed with. If you do not have a copy of your contract, or if your contract is unclear or confusing, contact the company you signed with. Be polite and ask for the representative to explain the policy regarding cancellation of a timeshare. Make sure you are getting an answer that pertains to your particular timeshare or type of contract signed.
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Choose to resell your timeshare. If the repercussions of an early cancellation of your timeshare are drastic, you may decide to resell your timeshare. You can do this yourself or use an outside timeshare company such as atimeshare.com to do so. If you use an outside company or broker to sell it for you, make sure to go with someone who you trust and who you have researched thoroughly to avoid being scammed.
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Contact a lawyer. If the company you signed your contract with is being difficult or refuses to accept your termination, contact a lawyer licensed in Florida. You may need outside reinforcement to ensure the timeshare company does what it promised in the contract and refrains from charging you penalties that were not disclosed when you signed your contract. If you need help finding a lawyer that specializes in timeshares and Florida law, you can search for a lawyer at lawyers.com or findlaw.com (see Resources for links).
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