My timeshare resort in Nevada has gone downhill. I want to quit. Can I?
Every state has its own laws and has extensive legislation covering timeshare transactions. Nevada is no exception.
Can I Cancel A Timeshare Purchase In Nevada?
Yes, you can, but you need to act quickly. In Nevada, the state law gives you the right to cancel the contract and offers certain protections to the buyer.
The developer must provide the buyer with a public offering statement. That means the developer must disclose important information about the timeshare such as the developer’s name and address, a description of units, the costs and assessments for maintaining homeowners’ associations and common areas, financing options and information about how to cancel the purchase.
In Nevada, you have until midnight on the fifth day to cancel a timeshare agreement after the date you sign and receive a copy of the contract.
How Do I Cancel The Timeshare?
To cancel the contract, you can:
· Mail the cancelation notice. The date it’s mailed will be the date the contract is considered canceled, or
· Hand-deliver the cancelation notice to the address provided on the contract.
The developer has 15 days to issue a full refund, with no penalty attached.
What If I Need To Cancel After The Cancellation Period Has Passed?
Timeshare owners who no longer use their timeshare or can’t afford it any longer find it very difficult to sell their timeshare because there is no aftermarket for them.
If you took out a loan to pay for the timeshare and don’t make your mortgage payments, you could face foreclosure. In addition to the monthly mortgage payments, timeshare
owners are usually responsible for maintenance fees, special assessments, utilities, and taxes. These are often referred to as “assessments”. If you fall behind in any payments of these assessments or your monthly mortgage payments, you will face foreclosure. That will severely affect your credit rating in all areas of your life.
If you own a timeshare in Nevada and want to get out of the financial commitment but are past the cancellation period, we CAN help! At FASTESTEXIT.COM, we will have your timeshare canceled legally, immediately halting all payments, WITHOUT affecting your credit rating. FASTESTEXIT.COM has a proven track record and we guarantee our services. Contact us today at www.fastestexit.com and get rid of your timeshare debt forever!