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How You Can Cancel A Timeshare? Timeshare is believed to be expensive despite the fact that it might give great vacation experience to its owner. Almost everyone is trying to cut cost these days due to the economic downturn we are experiencing and for that, it may be smarter for the owners to have his or her timeshare contract cancelled. With this, he/she will be able to opt for cheaper forms of vacations or perhaps use the money on more important matters. On the other hand, if the owner had just purchased timeshare and decides to get rid of it, he or she might do so without forfeiting his or her initial payment by acquiring a rescission period. Now in the US, almost every state has a rule of rescission or the time period wherein the buyer may change his/her mind and cancel sales contract without having to forfeit any money. But, you have to be warned that rescission period is varying from one state to the other. First thing you have to do is to check the contract for clause saying something about the rescission period. Everything you need to know is listed in the contract and when you wish to submit a rescission request, you can look for specific details that are concerning the deadlines in contract. Then, it is time to make note of the rescission deadline immediately as well as the instructions on how to cancel timeshare successfully.
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You need to make certified letter which stipulates that you like to cancel your timeshare as soon as you’ve found the information needed from your contract. Try to make it short and also, take note that you do not need to explain everything. An important thing is, they know that you exercise your rights to rescind contract by terms of the agreement. You have to include your address, name, date of purchase and contract number in the cancellation letter. You have to request its return as soon as the deposit was taken. In other cases, the company will be giving you a form in order to make the process a lot simpler and you can take advantage of that.
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Above everything else, you have to send your rescission letter prior to the cancellation deadline of the timeshare contract. With certified letter, you could demand signed receipt which indicates that they need to respond. In addition to that, try to make copies of all the documentation and make sure that it is postmarked prior to the deadline. Apart from that, you have to make efforts in making copies of all documentation and see to it that it’s postmarked prior to the deadline. By doing so, you will be able to get proof that you’ve mailed it on time if ever there are some conflicts in the future.