What You Need to Know About

Timeshare Rescission

1. What is Timeshare Rescission

2. Timeshare Rescission Periods by State

3. Sample Timeshare Cancellation Letter

4. Where to Send Your Rescission Letter

5. Mexican Timeshare Rescission

6. What To Do if You’re Out of Rescission Already

Chapters:

1

You’ve recently purchased a timeshare and are having second thoughts. Now you want to cancel your contract and get your money back with

no penalty. You just might be in luck! Every timeshare contract includes a clause that entitles you to a cancellation within a certain period.This clause is also known as the timeshare rescission period.

Rescission periods are included in many different agreements. The right to rescind a contract is also known as the cooling off rule, defined under the Federal Trade Commission. In addition to timeshare contracts, you are guaranteed a three-day cooling off period for a purchase made in your place of residence, or in the seller’s temporary location like a hotel or fairground.

There are exceptions to the cooling off period such as car purchases, sales made entirely over the phone, or sales under $25 in your home or under $130 in a temporary location. For more information on other cooling off rule details, visit the FTC website on the subject.

However, timeshare rescission periods are different. Almost every state in the US has specified a rescission period for timeshare sales in their State Codes.

The reason for this? Timeshare sales are so overrun with scams, fraud, and misrepresentation that lawmakers had to address consumers’ concerns.

Why do you want to cancel your contract? Was the sales process rushed and you didn’t get a chance to understand what you were buying? Did your salesperson lie about how you could use the timeshare?

What is Timeshare Rescission?

Chapter 1

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Have you realized that you just don’t want to own a timeshare?

We understand that you may be feeling panicked, but there is hope! If you’ve purchased within the last week, there’s a good chance you’ll be able to cancel your contract and get a full refund just by sending a letter to the timeshare developer. Rescission periods vary by state, though, so keep reading to see if you are still within your rescission period.

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Did you purchase your timeshare while on vacation in a different state? Most timeshare transactions occur outside the purchaser’s

home state.

Because of this, your timeshare rescission period is determined by the state in which you signed the contract, not your home state.

Every state has different timelines and rules about timeshare rescission. We’ve compiled these rules into one handy guide below.

Alabama: 5 calendar days, unless the 5th day is Sunday

Alaska: 15 calendar days, starting at receipt of the Public Offering Statement

Arizona: 7 calendar days

Arkansas: 5 calendar days

California: 7 calendar days after purchase or receipt of public report

Colorado: 5 calendar days

Connecticut: 5 calendar days after purchase or receipt of timeshare disclosure statement

Delaware: 5 business days

District of Columbia: 15 calendar days after purchase or receipt of current public offering statement

Florida: 10 calendar days after purchase or receipt of all required

Timeshare Rescission Periods by State

Chapter 2

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documents

Georgia: 7 calendar days, not including Sundays and holidays

Hawaii: 7 calendar days after purchase or receipt of timeshare disclosure statement

Idaho: 5 calendar days

Illinois: 5 calendar days after purchase or receipt of public offering statement

Indiana: 72 hours, not including Sundays or legal holidays

Iowa: 5 business days after receiving required documents

Kansas: 3 business days, if the contract was the result of a door-to-door sale

Kentucky: 3 business days (out of state timeshares, vacation clubs) or 5 business days (in-state timeshares)

Louisiana: 7 calendar days after purchase or receipt of public offering statement

Maine: 10 calendar days after purchase or receipt of the disclosure statement

Maryland: 10 calendar days after purchase, receipt of public offering statement, or the date the unit is ready for occupancy

Massachusetts: 3 business days after receiving the public offering statement

Michigan: 9 business days after receipt of all required documents

Minnesota: 5 calendar days after receipt of a copy of the contract and public offering statement

Mississippi: 7 calendar days after purchase or receipt of public offering statement

Missouri: 5 calendar days

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Montana: 7 calendar days after purchase or receipt of public offering statement

Nebraska: 3 business days after receipt of public offering statement

Nevada: 5 calendar days 6

New Hampshire: 5 calendar days after purchase or receipt of public offering statement

New Jersey: 7 calendar days after purchase or receipt of public offering statement

New Mexico: 7 calendar days

New York: 7 business days

North Carolina: 5 calendar days

North Dakota: No rescission period specified by law; consult your contract

Ohio: 3 business days, if purchase occurred in your home

Oklahoma: 5 calendar days after receipt of signed contract and public offering statement

Oregon: 5 calendar days after purchase, or when a cancellation address is provided

Pennsylvania: 7 calendar days after receipt of public offering statement

Rhode Island: 5 business days after purchase or receipt of all required documents

South Carolina: 5 calendar days after purchase or receipt of disclosure agreement

South Dakota: 7 calendar days after purchase or receipt of disclosure statement

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

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Texas: 6 calendar days after purchase or receipt of timeshare disclosure statement

Utah: 5 business days

Vermont: 3 business days, if purchase occurs in your home

Virginia: 7 calendar days, unless 7th day is a Sunday or legal holiday

Washington: 7 calendar days after purchase or receipt of disclosure statement

West Virginia: 10 calendar days after purchase or receipt of public offering statement

Wisconsin: 5 calendar days after purchase or receipt of timeshare disclosure statement

Wyoming: 3 business days after purchase or receipt of a copy of the contract with all necessary cancellation information, and if the purchase occurs in your home

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Sample Timeshare Cancellation Letter

Chapter 3

The following sample timeshare rescission letter is a good starting point for owners that want to cancel. Send a copy of this letter via

certified mail to the address listed in your contract, and request a return receipt.

Castle can’t guarantee that the developer will cancel your contract. There is a chance they will ignore your letter. Call us at 844-578-4866 for more information.

Need help finding the address for your timeshare developer? Read Chapter 4.

Timeshare Owner NameAddressCity, ST Zip CodeContact Phone NumberFax NumberE-mail Address

Timeshare CompanyAddressCity, ST Zip CodeContact Phone NumberFax NumberCurrent Date

Attention Customer Service,I am writing to express my intent to cancel my timeshare contract. My

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name is (enter your name here) and I purchased a timeshare with (enter timeshare company) on (enter purchase date). As stated in the contract regarding this timeshare, I am writing to you within the rescission period to cancel this contract. I am entitled to this rescission period by the law of the state of (enter State here). [For Mexican timeshares, your are entitled to this rescission period by PROFECO]

Timeshare: Generic Name ResortsOwner: Timeshare Owner NameContract Number: XXXXXXXXDate of Purchase: XX-XX-XXXX

I’ve made the decision to cancel my contract for the following reasons:E.g. I do not think I can afford to make the paymentsE.g. I felt I was pressured/misled/lied to in the timeshare sales presentation.

Again, I am cancelling my timeshare contract immediately. Please reply with a written response showing you have received my letter within the rescission period and are therefore cancelling my contract. I will also require the information needed to receive the full refund of my initial deposit.

Sincerely,

Timeshare owner name

If your contract isn’t cancelled and you don’t receive a refund within 1 month, your developer is in violation of State law. Call Castle Law Group to see how we can help.

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Where To Send Your Rescission Letter

Chapter 4

If you are rescinding your contract, you must send your cancellation letter via certified mail with return receipt to the correct address

listed in your contract. Do NOT use FedEx or any other mailing service.

What if you don’t have a copy of your contract, or can’t find the page that references rescission periods?

We have compiled a list of the addresses for the most common timeshare developers. However, always chek your contract if possible. We can’t guarantee that the developer will cancel your contract if you send your cancellation letter to the addresses below.

Wyndham:

Wyndham Vacation ResortsOwner Care Department6277 Sea Harbor Dr.Orlando, FL 32821

Westgate:

Double-check your contract on the page titled “Contract For Purchase and Sale”

Westgate Vacation Villas, LLC2801 Old Winter Garden RoadOcoee, FL 34761

Diamond:

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Double-check your contract by finding the long document titled “Purchase and Security Agreement”. The rescission address should be found in Section 21 “State Specific Provisions”.

Diamond Resorts U.S. CollectionC/O Rescission CoordinatorDiamond Resorts Financial Services10600 West Charleston BlvdLas Vegas, NV 89135

Also, send a copy via FAX to:702-765-8693

Orange Lake (Holiday Inn Club Vacations/Silverleaf):

Orange Lake Country Club Inc.8505 W. Irlo Bronson Memorial HighwayKissimmee, FL 34747

Marriott Vacation Club:

Find the rescission clause in your contract, as the address is dependent on which resort you purchased with.

If you need help finding this address, call us at 844-578-4866.

The Berkley Group:

There are several entities under the umbrella of The Berkley Group depending on your state of purchase. Berkley resorts include Vacation Village resorts, Grandview at Las Vegas, and Williamsburg Plantation.

Florida:

Lando Resorts CorporationCancellation Department2626 East Oakland Park Blvd 2nd Floor,Fort Lauderdale, FL 33306

Nevada:

Send two copies of the rescission letter, one to each of the following

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addresses:

Grandview at Las VegasA Vacation Village Resort9940 Las Vegas Blvd. SouthLas Vegas, NV 89183

Eldorado Resorts Corp., a Florida Corporationd/b/a Eldorado Development Corp.2150 West Jo Rae AvenueLas Vegas, NV 89183

Virginia:

“Director of Administration”5380 Olde Towne RoadWilliamsburg, VA 23188

Always double-check the address in your contract if possible, or call us for help if you are unsure.

Bluegreen:

Bluegreen Vacations Unlimited, Inc.Atten: Corporate Sales Accounting Department4960 Conference Way N. Suite 100Boca Raton, FL 33431-3311

If your resort is not listed, give us a call and we will help you find the correct address.

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Mexican Timeshare Rescission

Chapter 5

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Mexican timeshare contracts also contain a clause for rescission, backed by the Mexican consumer protection bureau PROFECO.

However, Mexico is less regulated than the United States. This leads to a greater chance that you will encounter timeshare fraud, including violations regarding PROFECO. In fact, we have heard stories of timeshare employees impersonating PROFECO agents and intercepting rescission attempts.

Timeshare rescission in Mexico is complicated by several factors. Mexican timeshare resorts may simply disregard your rescission letter if you do not live in Mexico with the thinking that you will not be able to pursue legal action. Also, it may be difficult to find the proper address in your contract since they are not regulated as strenuously as in the United States.However, this should not deter you from trying to exercise your right to rescind a timeshare contract signed in Mexico.

The standard Mexican timeshare rescission period is 5 days. You may have more time if otherwise specified in your contract, but you will never have less than 5 days. Assume that these 5 days refer to calendar days, not business days, to be cautious.

You can use the cancellation letter template found in Chapter 3 to cancel a timeshare in Mexico. Make sure to send the letter with a return receipt and a certificate of mailing, both of which are offered through the USPS’s International Mailing Services for small extra fees. These will give you a better legal footing in the event that the resort tries to ignore your right to rescind. Also send your request via email to have further evidence of your desire to cancel the contract.

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Furthermore, resorts are required to issue a full refund within 15 days of receiving your rescission letter.

If a Mexican timeshare resort fails to honor your right to rescind, or fails to issue a full refund, get in touch with Castle Law Group immediately, as you have been a victim of timeshare fraud.

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Imagine you’re on vacation. You’re enjoying spending time with your loved ones and the break from work. Maybe you’re relaxing on the

beach in Florida or Mexico, enjoying the Smoky Mountains in Tennessee, or hanging out in Las Vegas. No matter what your vacation is, it’s a well-deserved break from the everyday.

Suddenly, the trip takes a turn. You go to a timeshare presentation and what was supposed to be a 90 minute presentation turns into hours of high-pressure sales tactics. You decide to sign up for a timeshare, based on the promises made during this presentation. It sounds like a good deal at the time, but you’re also just ready to get out of the sales pitch so you can start enjoying your vacation again.

Once you get home and the glow of vacation wears off, you remember that timeshare contract. Maybe it would be fun to book a trip for next year. After all, the salesperson told you that your timeshare could get you a vacation anywhere at anytime. But when you log in you realize that you only have enough points for a short stay at a run down resort that would cost less to book on a hotel website.

Or maybe you forget about that timeshare until the end of the year rolls around and maintenance fee bills arrive. Didn’t the salesperson say your maintenance fees would never go up? But they’ve increased by hundreds of dollars. You haven’t even used your timeshare!

Or maybe you’re older now and can’t travel as much. Maybe you have health problems and just can’t use your timeshare anymore. But when you call the resort, they tell you there’s nothing you can do. You

What To Do If You’re Already Out of Rescission

Chapter 6

signed the contract and now you’re stuck with the timeshare until you pass away.

Any of these situations sound familiar? There’s many reasons that people don’t realize they want to cancel their contract until after the very short rescission period has passed. Here at Castle Law Group, we believe that you shouldn’t be punished for that. We want to help you cancel your timeshare.

In fact, it’s our mission to change the timeshare industry one client at a time. Timeshare companies engage in fraud that preys on all Americans, but on vulnerable groups in particular. We want to change the way these developers do business by showing them it’s never okay to defraud a customer.

We need your help to change the timeshare industry. Give us a call 844-578-4866 for a free consultation to see if we can work together and use your case to fight against timeshare fraud.