FAQ's

Getting out of a timeshare yourself is very unlikely if you are not familiar with the process and could make future efforts impossible. Doing the research before proceeding is critical. So how should owners execute their own exit? Try following the steps below.

1. Rescission: Most states provide timeshare owners a cancellation period between 3 and 14 days. If you purchased your timeshare and are still withing this rescission period, you should research the state laws of the state you purchased in and follow the details of that statute to execute a cancellation.
2. Ask your timeshare company to let you out. Many timeshare companies claim to have their own exit program. It is important to know that all of them require owners to be and stay current on their maintenance fees and to have paid off their mortgage to qualify for their exit program. Also know that many have waiting lists years long so the sooner you get on their list, the sooner they will review your case. Beware of upselling when you call to request a release. Most timeshare companies will try to sell you more points or weeks to solve whatever problem is pushing you to seek an exit from your timeshare.
3. Try to give the timeshare away to a friend or family member. In order to give away your timeshare the following must be true.
   1. Your timeshare company allows transfers to 3^rd Many do not.
   2. Your mortgage is paid off and your maintenance fees are current. There can be no liens, encumbrances, or claims against the timeshare.
   3. You will need to hire a title company to execute the exchange through the timeshare company and to record the transaction per county recording requirements.
   4. You will be responsible for the transfer fees charged by the timeshare company, the cost of the title company, escrow and recording fees.

Timeshare exiting is the process of permanently getting out of your timeshare and the ongoing obligations to include future mortgage, maintenance fees and special assessments. Exiting a timeshare is different from transferring a timeshare to a 3rd party. You should expect to pay an exit firm to execute the detailed steps required to in timeshare exiting. Beware exit companies that cannot or will not tell you the steps they take to execute your timeshare exit.

If you own a timeshare, you were most likely lied to by the timeshare salesperson to fool you into buying their timeshare. Below are the 5 most common lies our clients tell us their timeshare told them

Lie 1: You can rent the timeshare for a profit.

Many timeshare salespeople tell potential clients that the timeshare can be rented out for a profit, but many timeshares block owner rental, and it is usually much more difficult than the salesperson makes it seem. Even if you can rent your timeshare, you will be competing with your timeshare company that rents out the resorts at shockingly low prices so your chances at a profit are very unlikely. Additionally, most of the timeshare companies charge owners fees for the right to rent out their week.

We are hearing from owners that have had their accounts frozen for suspicion of rental activity. While this sounds like a welcome outcome, know that these owners are still obligated to pay their mortgage and maintenance fees but are blocked from using the timeshare. That is not a timeshare exit.

Lie 2: Timeshares are a sound investment

This is one of the most common and worst lies they tell buyers. A timeshare is never a worthwhile investment outside of the value it provides through lower accommodations prices. As the vast majority of timeshares are not even a good value, this is not even an acceptable “spin” on the investment lie. We know this is unacceptable because many states have laws precluding timeshare companies and their representatives from making the claim the timeshare is a sound investment or appreciates in value. It only takes about 2 minutes to research how inexpensively non-owners can rent your unit compared to the price you are paying as an “owner”. 

Lie 3: You can sell the timeshare if you no longer want it

As covered in the above FAQ, timeshare values are based on the savings owners are able to achieve over other accommodations options. A simple internet search dispels any value proposition so who would buy it from you? Unless an owner is prepared to engage in the same high pressure, misleading and unethical sales process the timeshare company, there is no selling your timeshare. Check the listings on eBay or Craig’s list to see thousands of timeshares offered for $1 with no bidders/offers. Outside of a timeshare sales center, timeshares have no value. 

Lie 4: You will be able to use the timeshare whenever you want

This is patently false for obvious reasons. Supply and demand theory tells us that there is a limited supply of units during a holiday weekend but there is a high demand. This means that the only way an owner is getting time during these peak periods is to book a year or more ahead. Even then it may be impossible because your timeshare company is in the rental business and books these peak periods for their own rental business prior to the reservation window opening to regular owners. They do this because they can rent these peak periods for a higher profit, which we all know is the only thing your timeshare company cares about. Even if you want to book non-holiday weekends, these are in more demand than mid-week stays so you will need to book months ahead of time to secure a basic weekend stay. Lack of availability is one of the top reasons our clients seek our timeshare exit services. 

Lie 5: Your timeshare company will take back your timeshare if you ever want out

Even if this was true, which it never is, you would have to have paid off the mortgage and stay current on all fees just to get on a list that is years long. Knowing that 85% of timeshare owners regret the purchase and want out, it’s easy to understand why timeshare companies cannot let owners out without a fight. It would put them out of business, and they will do anything to survive and make profits for their stockholders and greedy executives.