Guide in Legally Canceling Timeshares

Outdoor sofa with pool and cottageWith the huge influx of people during vacation peak season, finding a place to stay at can be more stressful than relaxing. This is one of the reasons people invest in timeshares, or in other similar property investments.

But there will come a time when you need to let go of your timeshare. More often than not, there will be a contract. But this does not mean there is no way out of it. You are not bound to it forever. There are ways to cancel your timeshare legally.

Below are some of them.

Sell it

It might be a shared property, but your timeshare is exclusively yours and you have the right to sell it to others. While selling might be tough because you are competing with other timeshare resorts, there are ways to sell yours successfully.

Selling it at a low rate during price influx or putting ads in eBay or Craigslist will actually work.

Donate it

Want to be out of the contract regardless of whether you make a profit or not? Donate it to charity organizations. Not only will you free yourself up, you can also help others.

Rent it out

Don’t want the burden of the contract but want to keep your share just in case you need it in the future? Rent it out. It can be tricky, considering timeshare resorts usually rent out their rooms at a lower price, but it is possible.

Timeshare relief

Have money to spare? Availing timeshare relief services will immediately take the burden out of your hands. Paying an organization to do so might require extra cash, but they can help solve your problem more easily.

Return it to the organization

After a certain period, you can opt to return your timeshare to the organization and free yourself from the responsibilities of owning one. However, make sure that the resort allows “taking back” your share from the very beginning. This clause is usually written in the contract. So, read before you sign.

Want to get rid of your timeshare once and for all? Choose among any of these methods and bid your timeshare adios!