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How to Cancel a Timeshare Contract in Florida

Updated: 16 Feb 2013 01:05:10 AM

When you are experiencing the good life in a luxury condominium at an affordable price, having nearly all your whims pampered to, it is hardly surprising that you may only see the good points to owning your own timeshare.

However if on your return home you realize the hardships of your real finances and you wish you hadn't signed that contract, do not immediately despair, there are laws in place in Florida, that permit you to cancel it.

In the Florida Vacation Plan and Timeshare Act, there is provision for the cancellation of a timeshare contract.

Timeshare Contract

Cancellation Period

You must cancel before midnight on the 10th day after the contract was signed.

The correct way to inform the seller is to write a letter stating:

1. Your name, as stated on the contract.

2. The contract number.

3. The date of purchase.

It is essential that these pieces of information are included in letter.

You do not have to provide a reason for the cancellation but you may later, have to provide evidence that you sent the letter, so ensure you send it registered post or certified mail.

The act prohibits the seller from trying to waive the cancellation period and if he "closes" the deal prior to the cancellation period expiring, the purchaser is automatically granted a period of one year to void the contract if he so wishes.

To benefit from this act, it is necessary for the buyer to inform the seller, in writing and within the cancellation deadline period, of their intention to cancel the contract.

Florida Vacation Plan and Timeshare Act

The Florida Vacation Plan and Timeshare Act provides for a full refund to be made to the purchaser, providing that the stipulations in the Act have been complied with, minus though the cost of any promotional benefits that the purchaser may have been given between the signing of, and cancellation of, the contract.

The information provided on this page is meant to assist those who have had second thoughts about proceeding with purchase.

Our timeshare tours have a no obligation to purchase.

Should you decide to buy one and then want to cancel, please follow instructions above.

By Marie Ospina

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