Cancel a Timeshare Contract in Nevada the Easy Way
A timeshare contract often seems like a steal at first. After all, you are getting your dream vacation home or a piece of real estate at only a fraction of what you would have otherwise spent. But what most people realize soon after is that there is quite a bit of baggage attached. You come to discover all these taxes, assessment, and maintenance fees that timeshare sellers purposely fail to mention.
The good thing is that it is entirely possible to cancel your timeshare contract. But to save your money, you'll need to act fast while following the correct protocols. In this article, we will show you how to the easy way, using DoNotPay!
How Much Time Do You Have to Get Out of a Timeshare Contract?
Your typical timeshare contract will have a clearly defined period whereby you can cancel the contract without penalty. This is known as the rescission period and can be anywhere between 5-15 days. After the expiry of this rescission period, you can still cancel the contract, but you'll be charged a penalty.
If you are unsure about it, or your contract hasn't clearly stated a rescission period, you can default to Nevada's law on timeshare contracts. The Nevada timeshare cancellation law states that you, as the purchaser, are legally allowed to cancel the timeshare contract until the fifth day following the date of signing the contract.
How Much Does it Cost to Get Out of a Timeshare Contract?
The cost of canceling a timeshare contract depends on two things: the nature of the contract and the method you choose to cancel it.
Nature of the Contract
Usually, the nature of a contract implies that there is an offer and acceptance. In this case, the offer might already explicitly state how much you'd be charged for opting out of the timeshare contract.
There are two main types of timeshare contracts:
|Deeded||Here, the ownership is split into week-long increments sold to buyers as real property. Therefore as a buyer, you can do pretty much anything with the property. Sell it, rent it or even pass it on to an heir.|
|Right To Use||Here, the buyer can only use the property as is stated in the contract. However, the rights to the property will go back to the original owner after an agreed-upon time period. So suppose the property is sold to another owner. There's a likelihood that your rights might be lost during the transfer.|
The Method you Choose to Cancel it
- Rescission: Rescission is when you return the timeshare to the timeshare seller or company directly for a full refund. This will cost you nothing, provided that you do it within the rescission period. In Nevada, this is 5 days after signing the contract.
- Taking deed to the timeshare developer: Although not available to all timeshares, this will let you get out of your timeshare contract without selling it. Timeshare developers usually charge about $500 to $2000.
- Selling a timeshare on your own: Here is where you advertise your timeshare to another potential buyer and sell it. The only cost you'll incur is the advertisement cost which can range between $0 and $150. Or you can do it on craigslist for free.
How to Cancel a Timeshare Contract By Yourself?
For starters, if you want to cancel within 5 days after signing the contract, this falls under the Nevada rescission period. You should be able to cancel your contract by simply calling or emailing your timeshare company and having them cancel it without any penalties. However, always ensure that you make a paper trail in case you need to use it as evidence.
- Start by reading through the contract thoroughly, checking for any cancellation policy details.
- Reach out to your contact company and inquire about their cancellation policy.
- Ask for cancellation paperwork.
- Fill in the paperwork.
- Write down a letter to the timeshare company to cancel the contract.
- Make copies of the documents and send the originals to the company in Nevada (be sure to use a mailing company that will take the recipient's signature on delivery).
- Wait for the timeshare cancellation to be confirmed.
Now, while it sounds pretty straightforward, timeshare companies are known for being extremely difficult, and they'll likely give you a hard time. It might take you months just to receive paperwork, let alone receive confirmation. And what's worse, you'll still be liable to make your monthly timeshare payments each month.
What If You Can't Cancel a Timeshare Contract By Yourself?
So you've filled up the paperwork and waited to no avail. You've even tried calling the company and have received no response. What do you do now? Does this mean you are stuck with your timeshare forever?
Sometimes, it can take forever for these companies to process cancellations. After all, they rely on your monthly payments to make bank. It is even worse when you try doing it yourself. But there is a simpler solution that will help you get your results faster. For starters, you can involve an attorney and have them appeal on your behalf. The downside is, you'll have to incur attorney fees. And this might be even more expensive if it is past the rescission period.
On the other hand, you can turn to DoNotPay. Your trusted online robot lawyer, and have your timeshare canceled in a few weeks.
Cancel Your Timeshare With the Help of DoNotPay
If you want to cancel your timeshare agreement but don't know where to start, DoNotPay has you covered. Create your cancellation letter in 3 easy steps:
- Search "Cancel Timeshare Agreement" on DoNotPay.
- Tell us about the timeshare company, the contract name and number, the purchase date, and other details of your agreement.
- DoNotPay will generate a cancellation request letter on your behalf, leveraging all of the negotiation tactics mentioned above.
Why Use DoNotPay to Cancel Your Timeshare Contract?
|Fast Results||There are other ways to cancel your Nevada timeshare, but DoNotPay can get it done much faster.|
|Easy Process||DoNotPay leverages technologies such as Artificial Intelligence (AI) to automate time-consuming tasks involved in the cancellation process.|
|Success||When you work with DoNotPay, you can rest assured that we will do everything possible to help you out of your timeshare.|
Over the past few years, timeshare exit companies have been gaining popularity. They will come to you with the claim that their sole objective is to help you get out of your timeshare contracts by pairing you with a legal expert.
But while some of them are true to this promise, there are tons of fraudulent timeshare exit companies that are intent on taking advantage of you. After paying upfront, they'll string you along for months(sometimes years) without giving you an update. And all this while you keep on making payments on your timeshare on the side.
By using DoNotPay, you get a more trustworthy, cheap, and faster tool to help you get out of your contract. You only need to follow the steps above and leave the rest to DoNotPay.
DoNotPay works across all entities, and you can do it all with the click of a button
The best part about DoNotPay is that it is indiscriminate. It will work just as effectively across all entities, including companies and groups. And you can do it right from home.
We can help you:
- Get out of a timeshare
- Cancel a Wyndham timeshare
- Cancel a Bluegreen timeshare
- Cancel a Westgate timeshare
- Cancel a timeshare in Florida
- Cancel a Diamond Resorts timeshare
- Cancel a holiday-inn club vacation timeshare
And all this is just the tip of the iceberg. With DoNotPay, the power is in your hands. Your friendly online robot lawyer will handle almost any legal problem you throw at it. So today and finally get rid of that unwanted timeshare that's been draining your resources!