The process of canceling a timeshare contract in Florida can be tricky to navigate, as legal disputes may arise.
If you are one of the many people who have bought a timeshare in Florida and realized that it is not the best investment for you, the good news is there is a way to get out of the contract and get your money back without any penalties. However, you only have 10 days to do it. After that period, the contract becomes legally binding.
Below is what you need to know.
Canceling a Timeshare Contract in Florida – Understanding the Cooling-Off Period
Under Florida law, timeshare buyers are given a cooling-off period of 10 days after they sign their contract. This means that within 10 days of signing, you have the right to cancel your contract and get your money back without any penalties. During this period, you can change your mind and simply walk away from the deal.
To cancel your timeshare contract within the cooling-off period, you must notify the seller in writing that you are rescinding the contract. You can use the cancellation form that is provided by the seller, or you can write your own letter.
Make sure to include your name, address, phone number, date of purchase, and a clear statement that you are canceling the contract. You must also return any documents, materials, or gifts that you received from the seller.
You can deliver the cancellation notice by hand, by mail, by fax, or by email, as long as you have proof of delivery. The seller must refund you the total amount of payments you made within 20 days after receiving your cancellation letter, or within five days after receiving the funds from your cleared check, whichever is later.
How to Cancel a Timeshare Contract in Florida After the Cooling-Off Period
If you miss the 10-day cooling-off period, you may still be able to cancel your timeshare contract; however, it will be more difficult and costly. Depending on your situation, you may have to negotiate with the seller, file a lawsuit, or declare bankruptcy.
Some of the possible grounds for canceling a timeshare contract in Florida after the cooling-off period are:
- Fraud or misrepresentation.
If the seller lied to you or omitted important information about the timeshare, such as the availability of the unit, the quality of the resort, the fees and assessments, or the resale value, you may have a case for fraud or misrepresentation.
You will have to prove that the seller intentionally deceived you and that you relied on their false statements to make the decision to purchase the timeshare.
- Breach of contract.
If the seller failed to fulfill their obligations under the contract, you may have a case for breach of contract. You will have to prove that the seller violated the terms of the contract and that you suffered damages as a result.
If the contract is unfair or oppressive, you may have a case for unconscionability. You will have to prove that:
- The contract was grossly one-sided,
- That you had no meaningful choice but to accept it, and
- That the seller took advantage of your lack of knowledge, bargaining power, or vulnerability.
However, pursuing any of these legal actions can be time-consuming, expensive, and risky. You will need to hire a lawyer, gather evidence, file a complaint, and go through a trial or arbitration.
In addition, you may face counterclaims from the seller, who may sue you for unpaid fees, damages, or specific performance.
We Can Help You
If you are serious about canceling your timeshare contract, you should contact us as soon as possible.
At Jurado & Associates, P.A., we have the experience, the knowledge, and the resources to help you get out of your timeshare contract legally and permanently. Do not let your timeshare contract ruin your life. Contact us today. You can reach us by phone at (305) 921-0976, by email at [email protected], or by WhatsApp at +1 (305) 921-0976.