What’s the best way to go about rescinding? We just signed 2 days ago. I have 10 days to recind. We are still in FL should I go go them directly? What’s the best way?
Easy there. Settle down. It's ok.
Somewhere in your documents, there is an address to send the rescission letter. find it. It may be hidden, in a pocket or in the back of the binder behind a flap or on cd.
What did you buy? This may help us help you.....some are more difficult than others to locate addresses.
Do not attempt to 'verbally' cancel...they will put the hard sell on you. Rescind via paper as instructed...feel free to fax a copy to the office, but the written letter is your ticket to cancelling.
Here is the statutory law for Florida (where you purchased).
- You will need to draft a simple letter requesting to rescind your purchase.
- The letter must list the contract number and date, must include the word(s) 'cancel my contract' or similar
- All signatories to the original contract must be named and must sign
- You must return any 'gifts' given after signing the contract, but they can be returned later
- Sign and send the letter via certified USPS mail, return receipt requested
- keep original copies of all documents
- Sample letter below
- Don't expect a response from the company; other than a sales person trying to convince you not to cancel or to try and 'sweeten the deal' and sell you more points. DONT FALL for THIS.
Do this now.....then take time to study and think about it.
Welcome to TUG. Consider becoming a member....best $15 you'll ever spend.
Current Date
Timeshare Owner Name
XXXX Address Lane
City, ST Zip Code
Contact Phone Number
Fax Number (opt)
E-mail Address (opt)
Timeshare Company ----------> Must be sent to address listed in your contract package for "where to send cancellation/rescission documents" or wording to that effect--look for it
XXXXX Address Place
City, ST Zip Code
Contact Phone Number
Fax Number
Attention Customer Service,
The purpose of this letter is regarding the required cancellation of my timeshare contract. My name is (enter your name here) and I purchased a timeshare with (enter timeshare company) on (enter purchase date). Per the contract regarding this timeshare, I am contacting you within the rescission period in order to cancel this timeshare contract.
Timeshare: Generic Name Resorts
Owner: Timeshare Owner Names
Contract Number: XXXXXXXX
Date of Purchase: XX-XX-XXXX
Upon further review, I've decided to cancel and rescind this contract. Please refund all deposits and cancel any future charges.
To reiterate: Cancel my contract immediately.
Sincerely,
Timeshare owner name
Right to Cancel a Timeshare in Florida
In Florida, if you buy a timeshare, you can cancel the timeshare contract up until midnight of the 10th calendar day following:
- the date you signed the contract, or
- the day on which you received the last of all required documents, whichever occurs later. (Fla. Stat. Ann. § 721.10 (1).)
This right of cancellation cannot be waived.
If you want to cancel the purchase contract, you must notify the seller in writing. If you do this, the timeshare company must refund to you the total amount of payments, reduced by the value of any benefits received, within:
- 20 days after it receives your notice of cancellation, or
- within five days after it receives the funds from your cleared check, whichever is later. (Fla. Stat. Ann. § 721.10 (3).)
