If you have been wondering if there is any hidden, easy and foolproof way to cancel your timeshare contract, then the answer is YES!

The kicker? It’s written right into your timeshare contract!

The capture? Time is of the essence!

Your contract must include a clause about a “Rescission Period”.

A rescission period is your “cooling off” time after a big purchase like a timeshare. During that time you may exercise your Right of Cancellation and request the release of your timeshare contract. The length of your rescission period will vary depending on the state in which the timeshare was purchased. For example, a timeshare purchased in Massachusetts has a 3-day rescission window, while a Florida timeshare has a 10-day rescission window.

Do your research and find out what the rescission period is for the state in which you purchased the timeshare. Be sure to check if the time is calendar days or business days, as this will also vary from state to state and may determine if your termination is within the proper time window. DO NOT CALL the timeshare company, they will usually trick you or try to talk you out of canceling the timeshare. If you are not sure what the time frame is within your state, contact a timeshare attorney. This basic information should be provided to you free of charge.

You are legally bound to a rescission period if it is written into your contract. However; you must follow the termination process exactly as stated in your contract to have a valid cancellation. This will vary from contract to contract and may include certified copies of documents, hand delivery, or other requirements. It is always prudent to read your contract carefully and exercise your right to cancel as soon as possible. Don’t delay, act as soon as you feel buyers remorse. If you are having trouble canceling your contract, a timeshare attorney can help.

Timeshare lawyers are there for consumer protection. Consumers often receive an incomplete contract with missing attachments and references to documents they never received. Your payments or fees may be calculated incorrectly or, in some cases, you never received or signed a contract. Timeshare attorneys are there to protect the consumer and help get rid of the mortgage and maintenance fees once and for all. If you have acted quickly enough and are within the rescission period, you should be able to cancel your contract before making a single payment to the mortgage company.