Important Information on Legal Cancellation of Timeshare Contract.
Basically, a timeshare is a way of buying a piece or a share of a resort for vacation at least once a year. Timeshare has different products, for instance, it could be point-based, week-based, or even a combination that allows flexibility. For individuals who like to go on vacation each year, timeshares are often a good investment.
It is important to note that timeshare contracts are legally binding. However, many people have mistakenly thought that timeshare contracts cannot be terminated or canceled . Most timeshare companies maintains that you cannot cancel the timeshare contract. There are, however, certain reasons under the law that would make a person to cancel a contract, for instance, frauds or mistakes. In timeshare contracts, buyers can also provide timeshare cancellation letters when they feel they don’t need the timeshare anymore.
Why cancel a timeshare.
After signing the timeshare agreements, that is when many timeshare investors realize it is not what they expected. As a result, such investors may change their mind. When buying a timeshare, a buyer might not know some of the obligations like taxes, fees and assessments. They might only realize such obligation after agreeing …