Important Documents Timeshare

9 Important Documents for Timeshare Cancellation: What You Must Have

Getting out of a timeshare can seem like passing through a labyrinth of legal language, complex paperwork, and, in some cases, never-ending dialogue with resort management. But despite the challenges, it’s actually not impossible to make this work. 

Whatever the reason you want to get out of your timeshare, making sure that you have all of the appropriate documents for timeshare at the ready is critical for a successful timeshare exit.

Through this guide, we are going to take a look at the important timeshare exit documents and how they relate to getting out of your timeshare. We’ll also discuss some common questions we hear when people are thinking about exiting their timeshare.

1. Timeshare Contract or Purchase Agreement

The starting line of any timeshare exit solution is the initial timeshare agreement. This is the contract that states what your timeshare purchase entitles you to. This receipt is necessary for understanding your rights and obligations under the contract, including cancellation rights or conditions for transferring or cancelling the agreement. The terms of the timeshare agreement usually include:

• Date of Purchase:

The date on which you bought the timeshare.

• Policy Number:

A number that specifically relates to your policy.

• Property Details:

Specifics of the unit or points for sale.

• Cancellation clauses:

            Specific language that details how to end the contract, if permissible.

It is very important that you read this contract, as it is the document that supports your ownership. If you don’t have a record of the original contract, make sure to call the owner services or customer service department at the resort and ask for one.

2. Certified Cancellation Letter

When you’ve read over your contract and are prepared to start the process of leaving, you must send an official termination letter. This is a formal letter to cancel your timeshare agreement. Make sure to mail this letter certified, with a return receipt requested. This is very important if there are arguments later.

A letter of cancellation that’s been certified must include the following information:

• Your Full Legal Name: What the contract said.
• Number of Your Timeshare Contract: Indicate the invoice number in your contract for the resort to find your file faster.
• Property Description: Give us a description of the timeshare or points you are being charged for.
• Date of Purchase: State when you actually signed the contract.
• Unambiguous Statement of Cancellation: Let it be crystal clear that you want to cancel your timeshare agreement.

This letter should be brief, formal, and professional. Remember to keep a copy of the letter and any correspondence for your files. This could be important in case of a dispute later or if you require proof that you have requested cancellation. Often letters get dumped, and here’s why. 

3. Government-Issued Photo ID

You will need to provide a government-issued photo ID so the resort can confirm your identity and your request to cancel the timeshare contract. This guarantees the resort is speaking to the right timeshare owner. Some valid forms of ID can be:

• Driver’s License: Photo bearing current license.
• Passport: A government-issued passport.
• National ID Card: An alternative is a national ID card, depending on the country.

It is a must that the name on your identification is an exact match to the name on your timeshare agreement. If the names do not align, that may delay or complicate the process.

4. Payment Records

The more of your payments you have documentation for, the better in terms of showing your financial stake. These receipts could also help you prove that you have paid resort fees, which may make it easier for you to sign out. Gather the following payment-related documents for timeshare exit:

1. Receipts:

This includes receipts for the initial down payments or any payments you have made in connection with your timeshare.

2. Bank Statements:

Statements will also be helpful to substantiate the payments made to the resort by check, wire transfer, etc.

3. Credit Card Statements:

If you paid using a credit card, provide statements with transactions posted to the hotel resort.

4. Annual Maintenance Fee Records:

It’s common to have maintenance fees on your timeshare each year. Collect any evidence that shows the annual payments.

This paperwork could be invaluable if you encounter problems with the resort or if you’re trying to negotiate a settlement.

5. Communication Records

During your ownership of timeshare interests, you have probably been in contact with the resort throughout the years. If you’ve been emailing or talking on the phone, or if there has been correspondence, make sure to keep a record of these interactions. These papers will be around as proof of any contract, agreement, or misunderstanding that existed in the sales process or during your efforts to leave.

Here’s what to collect:

• Emails: All communications with the resort and/or timeshare salespeople.
• Phone Calls: Whenever you can, write down the dates and notes of any significant phone calls (conversations) that you have had with resort personnel.
• Letters: All official letters, whether sent by you or received by you, that may relate to your timeshare exit or any other relevant matter.

Those documents for timeshare exit are valuable if you have to prove that the resort did not live up to its promises or made misrepresentations when you were buying. If you are contesting the validity of your timeshare, these papers may prove to be invaluable evidence challenging your timeshare contract.

6. Deed or Membership Certificate

A Deed or Membership Certificate is among crucial documents for timeshare exit, depending on what type of ownership you hold. If you are at a deeded timeshare, then the deed acts like a car title for ownership. If you have a right-to-use (RTU) timeshare, on the other hand, the certificate of membership specifies your right to use the resort or points system.

In both situations, you will have to collect these documents for timeshare to show that you are the owner and explain how the property is legally connected to you. Without this paperwork, you may find it difficult to establish that you’re the valid owner and begin your departure.

7. Special Assessment Notices

Timeshare owners are occasionally hit with special assessments, which resorts levy to pay for major repairs or upgrades. If your resort has passed any special assessments while you’ve owned it, these documents for timeshare exit are important.

Gather the following:

• Notices: Resort communication about the special assessments.
• Invoices: Copies of any accounts that detail the amounts owed for the special assessments.
• Payment Records: Proof that you have already paid any of these assessments, and the payment is not due.

These documents can help demonstrate that the resort has placed more financial strain on you, which might make it easier to leave.

8. Resort Rules and Regulations

To verify that the resort is upholding its duties, you need to request a copy of the resort’s rules and regulations. These documents typically include:

• Use Policies: The rules on how you can use the timeshare property or point system.
• Schedules: Information on when the resort property will be going through maintenance, shutdown dates, or updates.
• Fees: Details of how maintenance and other fees are calculated and charged.

It will give you the upper hand if the resort has not been complying with the conditions of your contract and is skipping its responsibilities.

9. Evidence of Misrepresentation or Fraud

If you believe that you were deceived upon making the purchase, or that deceptive sales strategies were used to persuade you to purchase, then you must gather any documents that can prove these allegations.

The following documents for timeshare exit can help:

• Sales Documents for timeshare exit: Brochures, slides, or advertising that were utilized when selling the timeshare to you.
• Witness affidavit: These are affidavits that should be signed by individuals who were there when the pitch was made.
• Correspondence: Emails, letters, or any other form of communication with false or erroneous information.

In addition, documentation of these unkept promises can be important in proving that you were lied to or misled during the sales pitch and subsequently defrauded, which may help you get out of the timeshare contract. 

Find more detailed legal guidance and related resources!

Last Advice on How To Get Out of Timeshare?

Act Surreptitiously

Several states provide a “cooling-off” time period once you sign the timeshare contract (generally from 3 days to 15) to cancel. If you are within this period, you can typically cancel the contract without penalty. If you are in this window, don’t slack off.

Hire a Pro

Getting out of a timeshare can be tricky, and you might need professional help to work through the fine print. It is strongly advised that you discuss your situation with a timeshare exit pro, like Resort Victory, to make sure you are handling the process correctly.

Watch out for Scams

Watch your back; there are too many scams in the timeshare exit industry. Beware of fraudulent companies that charge large upfront fees and are not transparent about what they do. Select a company with a good standing, one that has experience and success in getting people out of their timeshares. Resort Victory is the best one.