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Cancelling timeshare (less than a week)

L

lucifersMother

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Joined
Feb 8, 2022
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Resorts Owned
HGVC Elara
Hello all, glad I found this forum, although I wish I'd found it a day earlier.

I bought a timeshare with someone less than a week ago. I think I still want it, but would rather cancel it and buy on the resale market. I'm reading online that we'd just need to send a letter with some specific information, but the stack of papers they gave me is huge! Does anyone know where to find details on cancellation? Not sure what the rescission period is for my contract.

If I happen to be too late, I'm thinking of just sucking it up and buying points on the resale market, but I read in another thread that owners can't transfer points to each other anymore. Would this be an issue?
 
Additional questions, is it an issue that there were two of us in it together? We're both on the same page.

Everything I've seen involves using certified mail, but that seems slow. Could we not email it somewhere?
 
You only have 5 days to rescind a Nevada timeshare purchase, so speed is essential. If you are late, send it anyway. It might work. The count starts the day after you sign, and if day 5 is Sunday, you get until Monday.

The letter doesn't have to be fancy or legalese, hand written is fine. Just say you wish to cancel the purchase of the TS #______ Dated_____________ Signed______________ and _______________
The crucial date is when it's postmarked, not when it's delivered.

Good Luck and Welcome (belatedly) to TUG.

JIm
 
FWIW years back when I rescinded a purchase at W57th I did FedEx/overnighted it just to be sure. The cost of the overnight letter was well worth it. Also you have a signature upon arrival and tracking information. I would NOT use USPS fwiw..... In my case it arrived the last day that I was allowed and I had no problems. Not even a follow up phone call which I fully expected.
 
Nomad420 said:
FWIW years back when I rescinded a purchase at W57th I did FedEx/overnighted it just to be sure. The cost of the overnight letter was well worth it. Also you have a signature upon arrival and tracking information. I would NOT use USPS fwiw..... In my case it arrived the last day that I was allowed and I had no problems. Not even a follow up phone call which I fully expected.
Click to expand...

It doesn't matter when it arrives. It matters when it was postmarked. USPS is just fine, and certified or return receipt both work.
 
Passepartout said:
You only have 5 days to rescind a Nevada timeshare purchase
Click to expand...

Isn’t it based on the state the contract was signed? It is possible the OP was sold Elara but was in another state. Hopefully that is the case that gives them 10 days to cancel. At any rate, the contract should clearly outline how many days they are allowed.
 
Ty1on said:
It doesn't matter when it arrives. It matters when it was postmarked. USPS is just fine, and certified or return receipt both work.
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Unless it is lost which happens. For sure at least get it certified/return receipt at minimum.
Yes it is based on the state the contract was signed. In my case NY for W57th. As I recall it was clearly stated in my contract what the states rules/requirements were.
 
Nomad420 said:
Unless it is lost which happens. For sure at least get it certified/return receipt at minimum.
Yes it is based on the state the contract was signed. In my case NY for W57th. As I recall it was clearly stated in my contract what the states rules/requirements were.
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Alright, that makes sense. We're in California and saw it said ten days, but on another paper it said five. Either way, we sent via certified mail. Couldn't find an email, is there one?
 
lucifersMother said:
Alright, that makes sense. We're in California and saw it said ten days, but on another paper it said five. Either way, we sent via certified mail. Couldn't find an email, is there one?
Click to expand...

Where were you when you signed the contract? If California, yes 10 days.
 
lucifersMother said:
Alright, that makes sense. We're in California and saw it said ten days, but on another paper it said five. Either way, we sent via certified mail. Couldn't find an email, is there one?
Click to expand...
If there is an email it would be on the contract near the instructions to rescind. We ALWAYS suggest Certified mail, so that you have an official postal receipt showing when it was postmarked AND you'll get notified when it's delivered. With email, you get neither of those assurances.
 
Ty1on said:
Where were you when you signed the contract? If California, yes 10 days.
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We were in Nevada
Passepartout said:
If there is an email it would be on the contract near the instructions to rescind. We ALWAYS suggest Certified mail, so that you have an official postal receipt showing when it was postmarked AND you'll get notified when it's delivered. With email, you get neither of those assurances.
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Absolutely, sent the certified mail. Just also wanted to email on top of that in case it gets lost or something
 
lucifersMother said:
We were in Nevada

Absolutely, sent the certified mail. Just also wanted to email on top of that in case it gets lost or something
Click to expand...


You're fine now. Retain your Postal Receipt which proves that you responded within the required timeframe. It really doesn't matter when they receive it, but it is the date of mailing that counts!

They don't have to notify you that they received it, but they DO have to act on it by law. I am confident that you are tracking it and so you will know when they receive it anyways. Allow up to 45 days before you receive your refund.......


Sit back, relax, and celebrate your decision to rescind. :cheer::banana::whooopie::hi::wave:




.
 
lucifersMother said:
Alright, that's a load off my mind. Thank you all!
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@lucifersMother We hope your rescission and deposit refund went well. Mind sharing how much you saved with rescission? As half of tuggers initially bought retail/developer TS, there is no shaming.

We've received two successful reports of folks rescinding one day late.
https://tugbbs.com/forums/threads/think-i-might-be-screwed.307408/post-2484140
https://tugbbs.com/forums/threads/b...ay-late-any-advice.293818/page-2#post-2360423
 
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