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Louisiana
Letter Canceling Timeshare Contract

Louisiana Letter Canceling Timeshare Contract

Category:

Letters - Legal - Timeshare

State:

Multi-State

Control #:

US-00783BG

Format:

Instant download

Description

Most states now regulate timesharing, either under existing state land sale laws or under laws that were specifically enacted for timesharing. The regulating authority is usually the real estate commission in the state where the timeshare property is located. Under the typical act, purchasers may cancel the timeshare contract within a certain number of calendar days after the date the contract is signed if the seller is notified of the cancellation in writing.

The following is a generic form of such a letter.

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How to fill out Letter Canceling Timeshare Contract?

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FAQ

Writers should also acknowledge the grace period and state their reason for canceling. Finally, make sure that the letter is certified before you send it off. You'll have to contact a notary to do this for you. As long as the note is dated within the period, the resort should honor the letter and cancel your agreement.

Timeshare purchasers usually get the right to rescind the contract within a specific amount of time. Most states and some foreign countries have laws giving timeshare buyers at least a few days to cancel the agreement, usually between 3 and 15 days.

Explanation of three business days: If the sale happens on a Monday during a week without a federal holiday, you will have until midnight on Thursday to cancel the contract. If the sale happens on a Monday when Tuesday is a federal holiday, you will have until midnight on Friday to cancel the contract.

RS 31.10. 1: In Louisiana, a purchaser has the right to cancel a timeshare contract without any penalty within seven days of the date the contract is signed or until seven days after you receive the public offering statement, whichever is later.

Cancel the Timeshare Contract in Writing Usually, you must cancel a timeshare contract in writing. Even if a written letter or document is not required, it's highly recommended. Include the following information in your cancellation letter: your name as it appears on the contract.

A. Except as provided in subsection (E) of this section, in addition to any right otherwise to revoke an offer, the consumer has the right to cancel a home solicitation sale until midnight of the third business day after the day on which the consumer signs an agreement or offer to purchase.

On the (add date) I purchased a Timeshare from you, for use between (week/period) at the (resort name and location). Please rescind my contract with immediate effect and provide a written confirmation. I would appreciate your prompt response but request a reply to be provided within 14 days of receipt of this letter.

It varies from state to state but it typically gives between 3-15 days for you to fully cancel the contract. In most cases the right to cancel must also be stated, highlighted, and clearly communicated in some way in the contract to comply with various state laws.

District of Columbia 14.26 DEFINITION: "EQUIVALENT POSITION"

Florida 14.26 DEFINITION: "EQUIVALENT POSITION"

Georgia 14.26 DEFINITION: "EQUIVALENT POSITION"

Hawaii 14.26 DEFINITION: "EQUIVALENT POSITION"

Idaho 14.26 DEFINITION: "EQUIVALENT POSITION"

Illinois 14.26 DEFINITION: "EQUIVALENT POSITION"

Indiana 14.26 DEFINITION: "EQUIVALENT POSITION"

Iowa 14.26 DEFINITION: "EQUIVALENT POSITION"

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