Letter Canceling Timeshare Contract
About this form
The Letter Canceling Timeshare Contract is a formal document that allows a purchaser to rescind a timeshare agreement. This letter serves a specific purpose, which is to notify the seller that the buyer is exercising their right to cancel the contract within a legally defined period, usually mandated by state law. This form is important as it ensures that the cancellation is processed legally and in writing, distinguishing it from other forms that may simply request a cancellation without adhering to legal requirements.
Key parts of this document
- Recipient details: The name and address of the company or individual to whom the letter is addressed.
- Buyer information: The full name and address of the individual canceling the timeshare contract.
- Details of the timeshare contract: Specifics about the property, such as the location and unit number.
- Cancellation declaration: A statement indicating the intention to cancel the contract.
- Statutory reference: The name of the timesharing statute under which the cancellation is made.
- Refund request: An optional section to state the amount charged and the expectation for it to be refunded.
- Date and signature: The date of the letter and the buyer's signature to validate the declaration.
When this form is needed
This form should be used when a buyer decides to cancel a timeshare contract within the legally allotted time frame. It is typically relevant when the buyer experiences changes in their circumstances or finds that the timeshare does not meet their expectations. If the purchase was made under urgent or pressured conditions, or if there are terms that were misunderstood, this letter serves as an official means to reclaim their rights.
Intended users of this form
- Individuals who have purchased a timeshare contract and wish to cancel it legally.
- Buyers who have signed a timeshare agreement and are within the statutory period for cancellation.
- Anyone who feels that they were misled during the timeshare purchase process and wishes to rescind their agreement.
Instructions for completing this form
- Identify the parties: Fill in the recipient's name and address at the top of the letter.
- Provide your information: Write your name and address, ensuring they match your identification.
- Describe the timeshare: Include the exact location and details of the timeshare property, as well as the dates of usage.
- State your intent: Clearly indicate your intention to cancel the timeshare contract under the specified state statute.
- Request a refund: If applicable, mention any charges made and request a refund within the specified time frame.
- Sign and date the letter: End with your signature and the date of signing to finalize the document.
Does this document require notarization?
This form usually doesn’t need to be notarized. However, local laws or specific transactions may require it. Our online notarization service, powered by Notarize, lets you complete it remotely through a secure video session, available 24/7.
Mistakes to watch out for
- Failing to send the letter within the specified cancellation period.
- Not including the specific details of the timeshare property.
- Omitting personal contact information which may delay communication.
- Forgetting to sign and date the letter before sending it.
Benefits of completing this form online
- Immediate access to the form for quick completion and submission.
- Editability, allowing you to customize the form to fit your specific situation.
- Reliability, as the templates are drafted by licensed attorneys to ensure legal compliance.
Form popularity
FAQ
Start the letter by mentioning your original holiday plans, dates and duration and then mention that you have canceled your plans due to unforeseen circumstances. Mention the date you will rejoin work due to this cancellation. Explain reasons for cancellation of the plan briefly.
Begin the cancellation letter with the date, the company's name and address, and your account number. State politely but firmly that you want the company to cancel your account, and give them the customary 30-day notice before you expect it to become effective.
You should start the letter with Dear Membership or Subscription Company Name. You should then list the name or type of membership or subscription you are cancelling. Provide all the key information in the letter right away so the receipt is clear about the purpose for your letter.
On average, it costs about $5,000 to $6,000 and takes 1218 months to get out of your timeshare contract using a timeshare exit company. But the cost and the timeframe can vary depending on a number of factors including, how many contracts are attached to your timeshare.
Dear Sir / Madam: This letter is to inform you that I am officially cancelling our lawn service contract. Our contract ends on DATE, and I do not wish to renew it as I no longer own the house. The contract states that if I cancel before 30 days of the end of the contract, there is no penalty fee.
Another reason why it's so difficult to cancel your timeshare is that there are limited alternatives available.Also, timeshare companies make it incredibly difficult for owners to sell their properties. Resort officials want owners who make payments on time.
Include the date of the letter along with the name and contact details of the organization. Also, give your complete name, your mailing address, and the subscription or membership details based on the records of the company.
While it's usually not necessary to provide a reason for canceling the timeshare contract, you do need to explicitly state that the purpose of the letter is to rescind the contract. A statement like I am contacting you within the rescission period to cancel this timeshare contract will usually work.
Exit Within the Grace Period. If you don't want to have to learn how to sell a timeshare legally down the line, this is often your best course of action. Find a Possible Breach of Contract. Return the Timeshare. Sell Your Timeshare. Contact a Timeshare Attorney.
