• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 31 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 31st anniversary: Happy 31st Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $24,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $24 Million dollars
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Getting rid of timeshare

joshjaw2

newbie
Joined
Jul 23, 2018
Messages
4
Reaction score
0
My father has become unable to continue his current job and cannot afford his timeshare anymore. I think I have a way for him to legally get out of it, but need some advice. I would like someone knowledgeable to PM so I can chat with him. Thanks in advance.
 
If they are asking for an upfront fee run away. The only way to get out is to sell or give it away so it is not yours anymore.
 
So my question is... when you go to a time share presentation, they try and sell you another property or more points. Usually they buy back your old property(my dads exp). So when you buy a new property, is that considered like a brand new contract, one that you could get out under from in the 5 or so waiting period?
 
yes usually, however you would revert back to owning what you "traded in" on the deal.
 
So my question is... when you go to a time share presentation, they try and sell you another property or more points. Usually they buy back your old property(my dads exp). So when you buy a new property, is that considered like a brand new contract, one that you could get out under from in the 5 or so waiting period?

Did he sign a new contract? If so, the contract should have rescission provisions documented within it. If you are within the documented rescission period, then yes you can legally rescind by following the instructions to the letter. I'm sure this would mean you will still have to get rid of his current timeshare - as when you rescind - the buyback will also be rescinded - best guess.
 
So when you buy a new property, is that considered like a brand new contract, one that you could get out under from in the 5 or so waiting period?

Generally speaking, if you rescind / cancel the most recent purchase in time, it will be just as though the second transaction never occurred at all, reverting right back to the status which existed prior to the new transaction.
 
Top