Frequently Asked Questions

A recision or cancellation clause states that you may cancel your timeshare within a few days of purchase. In most cases, it's between 5 and 15 days, but it varies from state to state. A timeshare company will typically require you to write a cancellation (rescission) letter to cancel your agreement.

Any cancellation letter you send must comply with the terms of the agreement and relevant laws. If it doesn't, there's a good chance your letter won't be successful, leaving you in a difficult situation.

Writing a letter requesting to cancel your timeshare

If you require a cancellation letter, be sure to include the following:

• The Names on the Signed Agreement
• The Name of the Timeshare Developer
• Today's Date
• The Purchase Date
• The Agreement Paperwork Number
• The Amount of the Original Purchase Price
• A Statement Declaring Your Cancellation
• Your Contact Information: Mailing Address, Phone Number, & Email

Ensure your timeshare company receives your request

Just as important as the instructions are when writing your cancellation letter, the delivery instructions are equally significant. Resorts are sticklers with rescission periods, so you must ensure your letter arrives before the deadline. Send it via registered or certified mail to get notified of the delivery. Remember, the timeshare company may let your letter slip through the cracks if you can not prove it was delivered.

Sell your timeshare

Selling your timeshare is complex, and your timeshare agreement may even have a clause like "the right of first refusal" (ROFR) which allows the timeshare developer to buy the timeshare before you can sell it to anyone else. If you missed the rescission period and the resort will not take it back, you may have to do the heavy lifting yourself. One option that timeshare companies recommend is selling your timeshare. However, they fail to mention how complicated reselling them can be.

Employ the services of a specialist timeshare exit company

Unfortunately, the timeshare exit strategies listed thus far are not too promising. Rescinding your timeshare or giving it back to the resort will only work under certain circumstances. Selling and renting out your timeshare often delivers disappointing results.

The growing number of unhappy timeshare owners is why we now have this cancellation industry. Timeshare exit services have recently become a hot commodity because they have worked for many people.

"What is a specialised timeshare exit company?" A specialised timeshare exit company such as Cornerstone Financial is a team of industry leading experts who develop exit strategies for their customers. Their solutions are customized to meet the unique needs of each customer.

The answer to the is YES, the majority of contracts were issued/sold to consumers illegally, however please be mindful that timeshare companies will not just roll over. In our opinion it would be better to employ the services of a specialist company to perform this task for you.

There are laws that are designed to protect Timeshare purchasers, with disclosures mandated by Government Regulators and Legislatures, where consumers should have received:

Warnings and Advise

1. NOT a good investment
2. NOT easy to sell
3. NOT an appreciating "asset" for your Children
4. NOT to rely on oral representations [4-8 hours]

Violations of these Laws, give you Legal Rights!**

Even if you bought many years ago… Discovery Rule laws can refresh the Statute of Limitations

The answer to this is YES, so long as you have grounds for a claim. Our Advise in this instance would be to speak with a specialist in this field who can thoroughly assess your case and advise you once they have seen all of the relevant factors.

Again, the answer to the question is YES, but you would need an assessment. To promote finance the resort/developer would have needed to be registered with the FCA (or equivalent) in order to both sell or refer a consumer for finance. The finance provider also has a duty of care to the consumer, both but not limited to a credit check & an affordability check. Our advise again would be to arrange an appointment with a specialist within this field to both asses & advise you correctly.

Again, this is not an isolated story. There are many companies out there purporting to assist clients in this way, there are some that have been active for many years and yet no clients have received anything back as of yet.

There are steps that are involved with a Spanish claim, and these steps are not unique! There is a particular process that happens in each and every instance. Should you wish to discuss this with us, we would be more than happy to disclose all of this information with you and then further discuss arranging a consultation with a genuine specialist who will conclude the matter for you.

The companies that we work with will only submit a claim if you have valid grounds. The legal entities all hold the relevant accreditation and are duly registered in their Country of incorporation.

Unfortunately this has happened on many occasions. We have heard this from many consumers and what has transpired was that the companies were performing what is called a "Unilateral Termination", this is basically when a termination is requested / stipulated by one side of the contract only and is not recognised by the resort. 

We also regret to inform you that this is also not enforceable by law, even if you have been issued with a letter from the company that you employed. For a termination to be recognised and for your liabilities to end, you must receive confirmation of this from the resort or the decision to be made by the appropriating court.

We are experts within this field and offer each and every client a free consultation in order to check their eligibility for any prospective future action.