Timeshare Exit FAQ
Get answers to the most frequently asked questions in the timeshare cancellation industry.
How do timeshare contracts work?
Timeshares give you the chance to enjoy resort-like features, but it’s important to really understand what you’re signing up for.
When you buy time in someone else’s vacation spot, like a house, condo, or hotel room, you get to choose when you use it during the year, and you might get lower prices if you go back often.
But remember, buying a share of the time doesn’t mean you own the place. You’re just getting the right to use it during certain times of the year. You’re a timeshare “owner” but only for that slot of time.
If you ever want to get out of your timeshare deal, you can ask the timeshare company to cancel it, sell it, give it to a charity, or rent it out.
Our team is here to help you understand these choices and help you move on from a timeshare you don’t want anymore.
How much will this cost?
In the long run, the cost is $0 because your timeshare ownership and payments will end.
But we know what you mean when you ask, “how much does timeshare exit cost?”
This varies based on the time and effort required for your case. Consult with one of our advisors for a comprehensive understanding of the costs associated with your individual situation.
Why opt for timeshare cancellation?
Getting help from a timeshare cancellation company can be a smart move if you’re trying to get out of the financial strain of owning a timeshare.
Timeshare exit companies are really good at dealing with the complicated steps needed to cancel timeshare contracts, which usually involve legal details and very precise rules in the timeshare contract.
People might use these services to get expert help in talking to resorts, understanding complicated terms, and figuring out the best way to leave their timeshare.
A timeshare cancellation company offers knowledge and support, guiding clients through the confusing world of timeshare agreements. Their goal is to free clients from the financial and contractual pressures of their timeshare deals.
What are the two types of timeshare contracts?
SHARED DEEDED TIMESHARE CONTRACTS
A deeded timeshare contract grants you partial ownership of a property through a shared deed. This type of agreement means you, along with other owners, hold a portion of the property’s legal title. Typically, these contracts are indefinite, lacking a specific end date, and the ownership interest can often be sold, bequeathed, or otherwise transferred.
SHARED LEASE TIMESHARE CONTRACTS
In a leased timeshare contract, you have the right to use a property for a specified period each year, without gaining any ownership interest in the property itself. This arrangement is similar to renting, with the lease having a fixed duration. Once the lease term ends, your right to use the property ceases unless the contract is renewed or extended.
How can I trust you to cancel my timeshare?
Stonegate Timeshare Exit offers an exclusive 100% client satisfaction guarantee. This entails that if we accept your case for a single, fixed fee, our team commits to diligently work on your case until it reaches a resolution, without requesting any further financial contributions from you.
Should I stop making my mortgage or maintenance fee payments?
You should always honor your contractual obligations to your resort until you are no longer responsible for those obligations.
We do not recommend stopping any payments. Your contract with your resort is presumed to be valid. We believe there are better ways to work with your resort than simply defaulting on your payments.
In fact, defaulting on your payments to your resort can actually LIMIT the options you have for cancellation. We feel it is important to approach your resort from a place of mutual respect.
If you are behind on your payments already, please let your intake officer know.
Before making any recommendations, it’s essential to thoroughly assess all aspects of your case. No advice to halt your mortgage or maintenance fee payments will be given. If a non-attorney member of our team has told you to stop your payments, please report this to your Case Manager.
It’s important to remember that discontinuing these payments could impact your credit score, even if your timeshare isn’t located in the United States.
Can I continue to use my timeshare during the cancellation process?
No, you should not use your timeshare during this process.
If you ARE actively using your timeshare, legal and permanent cancellation might not be the best choice for you.
Remember, services like ours are to be considered a last resort. If you are using your timeshare, you should not cancel it. You should continue to enjoy it or seek other options for improving the terms of your timeshare contract.
There are certain limited circumstances do allow for continued usage, but do speak to an intake officer to get more details.
How long does this process take?
Most individuals who purchase timeshares are entitled to a rescission, or cancellation, period according to the laws of the U.S. states and some international jurisdictions. This period typically allows buyers to cancel their timeshare contracts within a certain timeframe, often extending for several days.
If this rescission period has elapsed, consulting with a skilled cancellation team experienced in timeshare legal issues could be beneficial.
The duration of the cancellation process varies significantly, ranging from as short as 3 months to as long as 36 months or more, depending on various factors.
