Tips on How to Get Rid of a Timeshare in 2025
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Did you once dream of owning a luxurious timeshare, only to have your dream shattered by soaring fees and rigid commitments? If so, it’s time to explore how to cancel my timeshare with minimal financial fallout.
A timeshare is a shared vacation property that often comes with a long-term commitment and ever-increasing maintenance fees. While it might have seemed like a great idea at first, many owners quickly discover that getting out of a timeshare is a complicated and costly endeavor.
To help, we’ve created this guide outlining the top five strategies for getting rid of timeshare, the costs associated with each, and who could benefit most from these methods. Whether you’re dealing with financial strain or simply looking to move on, this guide will provide the clarity you need to make an informed decision about how to get out of timeshare.
Use the Cool-Down Period - "Get us Out from Timeshare Now"
A cool down period is a brief window of time during which you can legally get rid of your timeshare agreement without incurring penalties. The length of this period varies by state (where the timeshare is located), typically ranging from three to 15 days.
To take advantage of the cool down period, follow these steps:
Write a cancellation letter to the timeshare developer including:
- Names on the signed agreement
- Name of the timeshare developer
- Cancellation address of the resort
- Today’s date
- Purchase date
- Agreement contract number
- Original purchase price
- A clear statement of your cancellation request
- Your contact information (mailing address, phone number, email)
Send the letter via registered mail to confirm receipt by the timeshare company. Find our timeshare cancellation letter pdf
This method is one of the most cost-effective ways to get out of timeshare, requiring little more than a stamp and proper documentation. Acting within the rescission period ensures you avoid long-term obligations and escalating costs.
Contact Your Timeshare Company
If you’ve missed the rescission window, your next step should be to contact the timeshare company directly. Many companies offer programs to help owners exit their contracts under specific circumstances.
For example, Wyndham Destinations, one of the largest vacation ownership companies in the U.S., provides a Certified Exit Program. This program offers options such as returning ownership for paid-off timeshares or applying for a hardship exception.
While not all timeshare companies have identical policies, it’s worth inquiring about deed-back programs or similar options. These programs allow you to return or sell back your timeshare if it’s fully paid off, offering a potential resolution without the added stress or cost of external services.
Try a Timeshare Deed-Back
The deed back program is a widely favored internal exit strategy that permits timeshare owners to transfer their ownership rights back to the resort where the timeshare is located. Through this method, they are able to terminate all ties and obligations linked with the property, including future responsibilities for maintenance fees and additional related expenses.
Engaging in this process typically requires only nominal fees, rendering it an appealing alternative for numerous timeshare proprietors who wish to relieve themselves of their shares without significant expense or hassle.
Do’s and Don’ts When Getting Rid of a Timeshare
Getting rid of a timeshare can be challenging, but having a clear plan and alternative strategies can make the process smoother. Here are some do’s and don’ts to guide you:
Do’s:
- Contact Your Timeshare Developer: Check if you’re still within the rescission period or if the developer offers a deed-back or buyback program you may qualify for.
- Review Your Timeshare Agreement: Look for any clauses or stipulations that might assist in crafting your exit strategy.
- Consider Hiring an Attorney (If Necessary): If affordable options fail or your timeshare involves multiple contracts, a legal professional can handle the complexities and guide you toward a resolution.
Don’ts:
- Avoid Renting Out Your Timeshare: Many developers prohibit this, and you’ll remain liable for maintenance fees and potential liabilities.
- Don’t Give Away Your Timeshare Without Research: While it might seem like an easy solution, it may violate your contract and leave you responsible for ongoing fees or legal complications.
- Never Stop Making Payments: Skipping payments can lead to legal action from the developer and damage your credit score.
By following these guidelines, you can avoid unnecessary costs and scams while working toward a legitimate timeshare exit.
Still thinking about what do to to get rid of timeshare? Check our in-depth timeshare cancellation guide.
Frequently Asked Questions About How to Get Rid of a Timeshare
How much does it cost to get rid of timeshare?
The cost to exit a timeshare can vary widely, ranging from $0 to over $15,000, depending on your chosen method. Directly working with the timeshare developer is usually the most affordable option, while hiring an exit company or attorney tends to be more expensive.
Is it possible to get out of a timeshare without hiring a lawyer?
Yes, you can exit a timeshare without involving a lawyer. Options include selling the timeshare back to the developer, listing it on a resale marketplace, or using the services of a timeshare exit company for assistance.
Can I return my timeshare to the resort?
Timeshare developers have varying policies on buyback programs. Check the terms of your contract to see if you qualify to sell your timeshare back to the resort.
Why is selling a timeshare so challenging?
Selling a timeshare can be difficult because ownership often involves high ongoing costs, and timeshares generally depreciate in value, making them less attractive to potential buyers.
Take Our Quiz to Get Out of Your Timeshare and Start Living Life Timeshare Free 🏖️ 💰 ✈️