Every state gives timeshare buyers a legal cooling-off period, typically 3 to 15 days after signing, during which you can cancel for any reason and get a full refund. The catch: the cancellation must usually be in writing, sent to the exact address in the contract, and postmarked before the deadline.
This letter is built to satisfy those requirements: it is unequivocal, dated, and identifies the contract precisely, and it demands the refund and the cancellation of any financing in the same breath.
The rescission deadline is everything
The rescission window starts on the day you sign (or in some states, the day you receive the public offering statement) and runs from 3 days in a few states to 15 in Alaska, with 5 to 10 days being typical: Florida allows 10 days, Nevada 5, South Carolina 5, Tennessee 10. Weekends may or may not count depending on the state. The letter is generally effective when postmarked, not when received, so mail it the moment you decide. If you are near the deadline, mail it today and sort out details later: an imperfect timely letter beats a perfect late one.
The deadline cannot be extended by phone calls
Calling the salesperson, emailing the resort, or being promised a callback does not stop the clock and usually does not count as cancellation. Only the written notice, sent as the contract directs, protects you.
Send it exactly as the contract requires
- Find the cancellation clause in the purchase agreement or public offering statement: it names the exact recipient and address
- Send by certified mail with return receipt, and keep the postmarked receipt: the postmark is your proof of timeliness
- Have every person who signed the contract sign the letter
- Include the contract number, resort name, and signing date so the notice cannot be misfiled
- Keep a photocopy of the signed letter and all mailing receipts together with your contract
Missed the window? Your options change
After the rescission period, the developer is not required to accept a cancellation, and getting out becomes a negotiation. Legitimate paths include the developer's own exit or deed-back program (many large brands have one), selling on the resale market (usually for very little), or documented claims of misrepresentation during the sales pitch, which can support a complaint to the state attorney general or real estate commission. Be extremely wary of upfront-fee timeshare exit companies: this space is full of scams, and the FTC has repeatedly acted against exit firms that take thousands of dollars and deliver nothing.
Keep paying while you exit
Simply stopping maintenance fee payments after the rescission window can lead to collections, credit damage, and foreclosure on the timeshare interest. Resolve the exit first or get advice from a licensed attorney in the resort's state before withholding payments.
Frequently asked questions
How long do I have to cancel a timeshare purchase?
It depends on the state where you signed: typically 3 to 15 days. Florida gives 10 calendar days, Nevada 5, California 7, Tennessee 10. Your contract must state the exact period and address. When in doubt, treat today as the deadline and mail the letter now.
Do I need to give a reason for canceling?
No. Rescission during the cooling-off period is unconditional: you can cancel for any reason or none. Stating a reason can even invite argument, which is why this letter deliberately gives none.
When is my cancellation effective, mailing or receipt?
In most states the notice is effective when deposited in the mail, postage prepaid, to the designated address. That is why the postmarked certified mail receipt is the single most important document to keep.
Will I get all my money back?
Yes, for a timely rescission: state statutes require a full refund of everything paid, typically within 20 to 45 days depending on the state. If the refund does not arrive, a complaint to the state attorney general or the agency regulating timeshares is usually effective.
Can I cancel a timeshare I bought years ago with this letter?
No. This letter exercises the statutory rescission right, which only exists during the cooling-off period. For an older timeshare, look at the developer's deed-back program, the resale market, or advice from a licensed attorney, and avoid upfront-fee exit companies.