Life Sentence: Contractual Obligation to Pay a Timeshare Contract for Perpetuity

Many timeshare owners feel trapped in their timeshare and feel they have nowhere to turn for help. They have likely already called the resort to see about getting out of their timeshare contract. In almost all cases they were told that is not possible.  The main reason is that almost all timeshare contracts are written in “perpetuity”.

What is perpetuity you ask?  It is just a fancy way of saying for the rest of your life.  In fact, it is literally translated into “for the rest of life”, not just your life, but also the lives of your children and your children’s children.

Another game the timeshare resorts will play is to say something like; “soon as you pay off the mortgage of the timeshare, we will buy it back from you.”

This leads many timeshare owners to either borrowing money to pay the mortgage off or pulling funds from savings to pay the mortgage off. The problem is we have seen the resorts come through on this promise maybe 2-3 times out many thousand instances.

The timeshare resorts and developers are focused on one singular task; taking as much money as possible and rendering as little service in return as possible.

And once they have your money (down payment) and have locked you in to paying them for the rest of your lives (maintenance fees vis-à-vis lifetime contract), they have no intention of giving any of it back or releasing you from your obligation.

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New Rights and Options for Timeshare Owners to Get Out of their Agreement

What timeshare owners do not know is that there are now ways to legally and permanently get out of your timeshare contract.  It has been a long time coming and there is still work left to be done, but recent timeshare industry changes are giving long suffering timeshare owners new rights and options they previously did not have.

Specifically, timeshare industry regulation and class action lawsuits against the timeshare resorts have given owners new ways to nullify, break, cancel and/or get out of their timeshare contract legally and forever.  That being said, it is still an extremely tricky process and in almost all instances will require the services of an attorney specializing in timeshare law.  After all, these timeshare contracts are very specific and need a very specific type of attorney, a timeshare cancellation specialist.

Whether you have a deeded timeshare contract or a right to use timeshare contract, having an attorney that specializes in timeshare cancellation can relieve you once and for all of the burdens associated with ongoing timeshare ownership.  Even if you still have a mortgage, an experienced timeshare attorney can help you get out of your timeshare contract and help you to get rid of maintenance fees forever.  The same can be said for being behind on maintenance fees and even if the resort has sent you to collections, you can still cancel your contract.  The only scenario where timeshare contract cancellation is not possible is if the property has already been foreclosed on.

Summary: How You Get Out of Your Timeshare Contract

As was mentioned at the beginning of this article, timeshare freedom is possible, you just have to know your rights and options. The best way to find out what those right and options are is to get a free consultation from an experienced timeshare cancellation adviser.

timeshare cancellation adviser will review the details of your specific situation, as well as your specific timeshare resort to help  determine what your options are, and thus how best to cancel your timeshare contract.

If you would like to speak with one of our advisors for a free consultation, call the Timeshare Freedom Group at (866) 668-6872 or click here to inquire online.