The resort is not legally obligated to take a timeshare back from you. If you can't find a willing owner to take over your unit, you'll have to put your case to the property's manager. If you stop paying your maintenance fees, you'll eventually be foreclosed on, which will take the property off your hands.
How can I legally get out of my timeshare?
- Call the developer.
- Rent it out.
- Sell it on the resale market (expect to take a hit).
- Gift it to a friend, family member or stranger.
- Stop your payments (but expect consequences).
- Avoid scams.
What happens if I just stop paying on my timeshare?
If you stop paying it, the timeshare company will do whatever it takes to collect. They'll make phone calls and send letters, then they'll assign it over to (you guessed it) a collections company. If you still don't pay, the situation sinks even further into foreclosure and possible legal action against you.
Can I cancel my timeshare on my own?
3. The only foolproof way to rid yourself of a timeshare is to legally cancel the contract. Whether you go with one of these or another company, just make sure their only method is to negotiate directly with your timeshare.Oct 9, 2018
How can I cancel my timeshare for free?
- Get your cancellation request in writing.
- Include a clear request to cancel your timeshare.
- List all the important details.
- Set expectations.
- Send all correspondence by certified mail.
- Don't get emotional or long-winded.
- Don't use passive or hesitant language.
What is the average cost to get out of a timeshare?
about $5,000 to $6,000
Can you just give back a timeshare?
If your contract has no deed back clause, you may be able to give your timeshare back under a deed back program. To qualify, most resorts insist that all maintenance fees and special assessment fees are paid in full. If the resort is holding a large number of unsold timeshares, it may refuse to accept your deed back.