How To Cancel a Timeshare in Mexico
Mexico might have been a great vacation destination. But if you signed up for a timeshare in Mexico, you may be in for some tough news.
A few months after your purchase, you probably will start to receive numerous amounts of paperwork from the resort detailing everything. Briefly glancing at the paperwork, you might have noticed a few things that didn’t look right. Maybe the mortgage price was higher than mentioned, or the sales representative lied to you about the yearly fees. If this sounds like you, then you are not alone. 1 out of 8 households in America owns a timeshare. And a Mexican timeshare is nothing out of the ordinary.
Concerned about the hurdle it will take to cancel a timeshare in a foreign country? Rest assured, we’re here to help. There are a couple of options that you have if you are learning how to get out of a timeshare in Mexico. So stop frantically searching the internet for answers! Fill out the form on the right or initiate a Live Chat with us to help you find the right solution for your timeshare situation.
Mexico Timeshare Cancellation Policy
If you’re the type of individual that likes to read through a contract immediately after your purchase, you might be in luck.
The rescission period in your contract is another way to give you a few days to see what you purchased is beneficial for your situation. On average, timeshare companies usually have a 3-10 day rescission period. But on rare occasions, it can extend up to one month. If you are in your rescission period, we suggest you act right away.
First, we suggest you contact the resort to take it back and tell them you want out immediately and you are under your rescission time period, then we suggest you overnight mail all the required documents. Your Mexican timeshare resort would want a signed document stating you want to rescind your contract. We recommend you do overnight mail the documents to play it safe. If the documents arrive days after your rescission period, most timeshare companies will not honor your request to rescind the contract.
Timeshare Exit Law for Mexico
If you’re reading this and want to cancel a timeshare contract in Mexico, first, you need to understand how Mexican Timeshare Law works. Timeshares in Mexico sell as vacation property or lease. Timeshares in Mexico have a life-span anywhere between 3 to 100 years. You will be required to pay yearly and monthly fees when you own the timeshare for that period. This can be relatively expensive. Keep in mind of inflating maintenance fees and a high-interest mortgage.
If you want to know how to cancel a timeshare in Mexico, you need to be familiar with Article 56 Federal Consumer Protection Law. Not only does this apply to citizens of Mexico, but the law applies to any visitors as well. The Article 56 Consumer Protection Law requires any consumers who felt they had been deceived to mail in or hand-deliver a written cancellation letter. You must explain your situation and how you were a victim of high pressured sales tactics.
The handwritten letter should detail names, dates, contract number, and the date when you purchased the contract alongside any contact information you wish to put. When you are sending this letter in, we advise you to reference the “Article 56 Consumer Protection Law”, so the resort is familiar with your request and prioritizes your situation.
After everything is sent in, we advise you contact the resort and follow-up on any other information they need for the cancellation of your Mexico timeshare.
How to Legally Cancel a Timeshare Contract in Mexico
If the request to cancel your timeshare contract in Mexico was not successful, it’s time to explore other options. As you probably are aware by now, timeshares are valued at $1 on sites such as ebay.com, craigslist.com, and the resale market is filled with scams. The resale route should be the last option if every other option is exhausted.
Timeshare exit companies are set-up for timeshare owners who are dissatisfied with their timeshare contract and are past their rescission period. Timeshare exit companies are in abundance, but so are timeshare exit scams. There are few reputable timeshare exit companies that complete the job they claim. Timeshare exit companies typically help you cancel your contract based on misrepresentations you faced during the sales presentation. If you were fed false promises during the presentation, they could be used to build a strong case in court. Some misrepresentations that you likely faced were:
- Your maintenance fees will never increase.
- You can cancel your contract anytime.
- Your timeshares will increase in value.
- Your timeshare is an investment, and your future generations will love your gift.
It’s tricky for timeshare exit companies to get you out of a Mexican timeshare due to the judicial restrictions. But there are timeshare loopholes. If your timeshare in Mexico has offices or an accounting department in the United States, then the timeshare exit company that uses attorneys might be able to pursue legal action towards the US-based department. Thus leading back to the timeshare resort in Mexico. Finding a reputable timeshare exit company that accepts your case can be difficult. There are few restrictions, but that can always be discussed during free consultation.
Get connected with a reputable timeshare exit company that can help you cancel your timeshare in Mexico. Fill out the free consultation form on the right, or initiate a live chat with a team member.
In conclusion, if you’re looking to cancel a timeshare in Mexico, act quickly! Timeshares can be stressful mentally and financially. If you went on vacation and unfortunately were victimized into signing a timeshare, you do have options. Timeshares in Mexico can be a hassle with the increasing maintenance fees and monthly costs. And lets not forget constant phone calls to upgrade your timeshare for more money.
As we explained the multiple options, we always recommend you get everything in writing, especially if you work with a timeshare exit company that uses attorneys. Having everything in writing will help you stay protected from potential timeshare scams. Read more about timeshare exit scams here.
There are numerous timeshare scams every year. Contact our team so we can help you determine if a timeshare exit company is legitimate, and we recommend working with timeshare exit companies that offer escrow, so you pay no up-front fees. Know your legal right so you can exit your timeshare contract legally. Read over our website and fill out the form on the right or contact us through Live Chat for a free informational consultation.