Understanding Your Timeshare Contract
Before initiating the cancellation process, it's imperative to thoroughly review your timeshare contract. Key elements to focus on include:
Rescission Period: This is a designated timeframe during which you can cancel your timeshare purchase without penalties. The duration of this period varies by state but typically ranges from 3 to 10 days from the contract signing date.
Cancellation Procedures: The contract will outline the specific steps required to initiate a cancellation, including the method of communication and any necessary documentation.
Financial Obligations: Understanding any financial penalties, outstanding balances, or fees associated with cancellation is crucial.
Steps to Cancel Your Bluegreen Points Timeshare Contract
Act Within the Rescission Period
If you're within the rescission period, canceling your timeshare is relatively straightforward:
Draft a Cancellation Letter: Clearly state your intent to cancel the contract, including your personal details, contract number, and the date of purchase.
Send the Letter: Dispatch the cancellation letter via certified mail with a return receipt to the address specified in your contract. This ensures you have proof of submission within the allowed timeframe.
Cancellation After the Rescission Period
If the rescission period has lapsed, consider the following options:
Contact Bluegreen Directly: Reach out to Bluegreen's customer service or legal department to discuss potential exit solutions. Some owners have reported success through Bluegreen's official exit programs, although these may involve additional costs, such as paying future maintenance fees.
Seek Legal Assistance: Consulting with a legal professional experienced in timeshare law can provide personalized guidance and may uncover legal avenues for cancellation based on your specific circumstances.
Timeshare Exit Companies: There are firms specializing in assisting owners to exit their timeshare agreements. It's essential to research and select a reputable company to avoid potential scams.
Alternative Solutions
If cancellation proves challenging, consider these alternatives:
Renting Out Your Timeshare: Offset costs by renting your timeshare to others.
Selling the Timeshare: Listing your timeshare on reputable resale platforms may attract potential buyers, though the resale market can be competitive and may not recoup your initial investment.
Transferring Ownership: Some owners choose to transfer their timeshare ownership to friends or family members willing to take on the responsibilities.
Protecting Yourself from Scams
The timeshare exit industry is fraught with fraudulent entities promising guaranteed cancellations for hefty upfront fees. To safeguard against scams:
Research Thoroughly: Investigate any company or individual offering cancellation services. Look for reviews, testimonials, and any history of legal actions against them.
Avoid Upfront Payments: Reputable firms typically do not demand large upfront fees without delivering results.
Consult Legal Professionals: Before committing to any exit service, seek advice from a licensed attorney to ensure the legitimacy of the process.
Conclusion
Canceling a Bluegreen Points timeshare contract can be a complex endeavor, but with a clear understanding of your contract, timely action, and the right assistance, it is achievable. Always ensure that any steps taken are legal and documented to protect your interests throughout the cancellation process.
