How to Get Out of a Time-Share Deal
Just signed a contract, but have since had a change of heart? There is a way to get out of it.
You are now subscribed
Your newsletter sign-up was successful
Want to add more newsletters?
Delivered daily
Kiplinger Today
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more delivered daily. Smart money moves start here.
Sent five days a week
Kiplinger A Step Ahead
Get practical help to make better financial decisions in your everyday life, from spending to savings on top deals.
Delivered daily
Kiplinger Closing Bell
Get today's biggest financial and investing headlines delivered to your inbox every day the U.S. stock market is open.
Sent twice a week
Kiplinger Adviser Intel
Financial pros across the country share best practices and fresh tactics to preserve and grow your wealth.
Delivered weekly
Kiplinger Tax Tips
Trim your federal and state tax bills with practical tax-planning and tax-cutting strategies.
Sent twice a week
Kiplinger Retirement Tips
Your twice-a-week guide to planning and enjoying a financially secure and richly rewarding retirement
Sent bimonthly.
Kiplinger Adviser Angle
Insights for advisers, wealth managers and other financial professionals.
Sent twice a week
Kiplinger Investing Weekly
Your twice-a-week roundup of promising stocks, funds, companies and industries you should consider, ones you should avoid, and why.
Sent weekly for six weeks
Kiplinger Invest for Retirement
Your step-by-step six-part series on how to invest for retirement, from devising a successful strategy to exactly which investments to choose.
I bought a time-share, and now I have buyer's remorse. Can I get out of the deal?
9 Financial Fumbles You Can Fix
- Rules for Paying Off Back Taxes
- Resolve a Complaint About an eBay Purchase
- Undo Your Social Security Claiming Decision
- Resolve a Dispute With a Home Contractor
- Amend Your Tax Return to Correct a Filing Mistake
- Repair Your Credit Score
- What to Do If You're Delinquent on Student Loans
- Change an Airline Ticket
- Get Out of a Time-Share Deal
Most states allow you to rescind a time-share contract within three to seven days of signing the contract. To cancel the agreement, write a letter to the company stating that you are rescinding the contract and spell out the specifics of the agreement, such as the date the time-share was purchased. You do not need to give a reason for canceling your purchase.
Most time-share companies will only accept letters delivered through registered or certified mail. For more information about how contracts are covered in your state or the state where your time-share is located, contact the state's consumer protection agency or the state attorney general's office.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
If the cooling-off period has passed, your only option is to put the time-share up for sale. You can sell it on time-share rental and marketplace website www.redweek.com or the Timeshare Users Group's website, or enlist a reputable resale broker by searching the Licensed Timeshare Resale Brokers Association's directory.
No matter which route you take, expect to take a beating on the sale. Time-shares often sell for less than half of the initial purchase price, and brokers typically charge a commission of 15% to 40% of your sale price.
