How to Cancel Your Timeshare Purchase
A timeshare might seem like a good idea on its face, but after signing some people regret their decision. In many states, including Florida, the law provides an option for canceling a timeshare purchase in certain situations. However, it is important that you act fast if you wish to cancel a timeshare after signing the paperwork. At The Soto Law Office in Altamonte Springs, our experienced civil litigation attorneys can review all your legal options for canceling a timeshare purchase that you no longer want. To learn more, call or contact our office to schedule a consultation today.
What is a Timeshare?
A timeshare is a method of purchasing the use of a property for an extended period of time. It differs from an outright purchase of property in that th
e purchaser is only buying the use of the real estate for a certain period of time every year. Typically, the owner of a timeshare will share that real estate with multiple people throughout the year, and timeshare contracts usually last for multiple years or even decades. Some timeshare agreements even last the lifetime of the purchaser or until the purchaser sells their interest to another party.
Can I Cancel a Timeshare?
The terms and conditions of a timeshare agreement are often lengthy and complex, meant to lock in a purchaser from being able to renege on the contract. However, Florida law does provide the purchaser of a timeshare agreement a “cooling off” period in which they can reconsider their purchase. State law provides that a timeshare purchaser is allowed to cancel their agreement up to midnight on the tenth calendar day following either the contract’s execution date or the day on which the purchaser received the last of all the documents required to be provided for a timeshare purchase, including notice of the cooling-off period.
Call or Contact Our Office Now
Canceling a timeshare agreement can be a difficult task, and time is not on your side. If you wish to cancel a timeshare purchase that was made in the last 10 days, The Soto Law Office is here to help. Call the office or contact us in Altamonte Springs to schedule a consultation with one of our experienced attorneys today.