[ 2012 ] How we FINALLY got rid of our timeshare

[icydog]

Not sure if I fully understand your situation.If your rescission period has passed then you cannot rescind and still own the timeshare. Your contract will dictate the terms of your rescission rights. If you purchased resale, and not direct from the developer, you may not have rescission rights.

You’re absolutely right. If you buy a timeshare resale most likely you will NOT have a rescission period at all. When you close on the property that timeshare will be yours.

yes, thanks! but if in rescission period cancelled, then I lose all the closing fees?

If you’ve gone beyond the rescission period you are the OWNER. No funds will be returned to you.

 

[NotNew]

If you are within the allowed rescission period (It varies by state), you lose nothing. The term 'rescission' means to set affairs back as if no transaction was made.

Jim

thanks jim

 

[NotNew]

Thanks also to everyone else who answered... I'm here to learn and already learning lots!

 

[Hutchings]

Not sure if this is the right place but just ran into a "new" way to trade an expensive timeshare with bad/no exit option for one with less expensive option.
We bought a new timeshare (MROP from GC Getaways and Transfer Outlet, LLC). They took our Wyndham Platinum points in trade. The whole deal has me
"Concerned" and wondering if it is an exit scam or not. Just done last night (May 1) so still doing research to see if we should rescind or not.

We still have a second contract in Wyndham for our Hawaii timeshare, not looking to get rid of it yet. Any information or advice would be appreciated.

 

[Iggyearl]

Here's a previous thread on the subject: https://tugbbs.com/forums/index.php...gc-getaways-transfer-outlet-llc.240973/page-1

I would also recommend checking their reputation on Yelp. The BBB reports look way too good at mostly 5 stars.