You’re sitting there looking at a maintenance fee bill that costs more than a week in a five-star hotel in Maui. It's frustrating. Honestly, it's exhausting. You probably bought the thing years ago after a long presentation involving free breakfast and a lot of high-pressure talk about "legacy" and "vacation ownership." Now, the primary question on your mind is how to cancel my timeshare without losing your shirt or destroying your credit score.
The truth is messy.
There isn't a "magic button." Most people think they can just call up the resort, say "I'm done," and hand back the keys. It doesn't work like that because a timeshare is a legally binding real estate contract, often deeded, that is specifically designed to be permanent. Some of these contracts literally contain "perpetuity clauses," meaning they outlive you and become a burden for your heirs.
The Recission Window: Your Only Real "Easy" Out
If you bought your timeshare within the last few days, stop reading this and go find your paperwork. Look for the "Recission Period." This is a legally mandated "cooling-off" period where you can cancel the contract for any reason, no questions asked.
It's short.
In Florida, it’s 10 days. In Mexico, it’s usually five business days. In Nevada, it’s five calendar days. If you are within this window, you need to send a written notice of cancellation via certified mail with a return receipt requested. Do not call them. Do not email them. Do not go back to the sales office to talk to your "representative," because they will just try to talk you out of it until the clock runs out. You need a paper trail that proves you cancelled before the deadline.
Once that window closes? The door slams shut. Hard.
How to Cancel My Timeshare When the Window is Closed
So, you’ve owned the unit for five years and you’re over it. What now?
The first thing you should do—and I know this sounds counterintuitive—is talk to the resort. A few years ago, this would have been a waste of time. However, big players like Wyndham, Diamond Resorts (now part of Hilton Grand Vacations), and Westgate have started implementing "exit programs." They realized that having a bunch of owners who refuse to pay maintenance fees is worse than just taking the unit back.
Wyndham has "Certified by Wyndham."
Hilton has "Transitions by Hilton."
These programs aren't guaranteed. They usually require you to have a clear title (meaning the mortgage is paid off) and you must be current on all your maintenance fees. Sometimes they charge a "taking back" fee that can be a couple of thousand dollars. It’s annoying to pay to give something away, but compared to paying $1,500 a year for the rest of your life, it’s a bargain.
The Mortgage Problem
If you still owe money on the loan? You’re in a tough spot.
Resorts almost never take back a unit that has an active mortgage. To them, you aren't just an owner; you're a debt. If you stop paying the mortgage, they will foreclose. This will tank your credit score by 100 points or more. It’s basically the same as a home foreclosure. Some people don't care because they already have their "forever home" and don't need new credit, but for most, this is a disaster.
You have to pay off the loan first. Or, you can try to negotiate a "deed-in-lieu of foreclosure," but that’s a specialized legal maneuver that requires actual professional help.
The "Exit Company" Minefield
Search for "how to cancel my timeshare" on Google and you’ll see dozens of ads for exit companies promising a "100% Money Back Guarantee."
💡 You might also like: WPP PLC Stock Price: What Most People Get Wrong
Be extremely careful here.
The Better Business Bureau (BBB) and the Federal Trade Commission (FTC) have issued countless warnings about these firms. Many of them are scams. They take an upfront fee—anywhere from $4,000 to $15,000—and then they just send a few template letters to the resort. Some even tell you to stop paying your fees, which is terrible advice that leads to foreclosure and collections.
In 2020, the Washington Attorney General sued Reed Hein & Associates (doing business as Timeshare Exit Team) for deceptive practices. They eventually settled for millions. If a company asks for thousands of dollars upfront before they've done anything, run.
If you must use a third party, look for a law firm that specializes in timeshare law. Not a "consultancy" or a "transfer agent," but actual licensed attorneys. Lawyers have a fiduciary duty to you; exit companies do not.
Realistic Alternatives to Cancellation
Sometimes you can't cancel. Or at least, not right away.
Can you sell it?
Probably not for what you paid. Timeshares depreciate faster than a used car driven into a lake. Go look at eBay or RedWeek. You will see people listing their units for $1 just to get someone to take over the maintenance fees. If you have a high-demand week at a Disney Vacation Club (DVC) resort or a Marriott property in a prime location, you might actually have some resale value. But for a random week in Branson? You'll be lucky to give it away.
- RedWeek: This is the most reputable site for renting or selling. It’s a DIY approach.
- TUG (Timeshare Users Group): This is the "old school" forum for timeshare owners. It is the best resource on the internet for learning how to navigate specific resort exit policies.
- Rental: If you can't get out, try to rent the unit out to cover the maintenance fees. It won't solve the long-term problem, but it stops the bleeding for a year.
The Legal Route
If you were lied to during the sales presentation—and let's be honest, many people were—you might have grounds for a legal dispute. Common lies include telling you the timeshare is an "investment" (it isn't), saying the resort will buy it back (they won't), or misrepresenting the tax benefits.
Proving this years later is incredibly difficult. It's your word against a signed contract that likely has a "merger clause" stating that only what is written in the contract matters, not what the salesperson said. This is why having an actual attorney matters. They look for violations of the Real Estate Settlement Procedures Act (RESPA) or state-specific consumer protection laws.
Why It's Getting Harder
The industry is consolidating.
Large corporations are buying up smaller resorts. This is bad for owners because these big companies have massive legal departments. They aren't scared of your angry letter. They've seen it all. However, the pressure from state Attorneys General is starting to force these companies to be more transparent about exit options.
Always check your specific state's consumer protection office. For example, the Florida Attorney General’s office has a dedicated page for timeshare resale fraud. Use it.
Practical Steps to Take Right Now
Don't panic. Panic leads to writing a $5,000 check to a scammer.
First, get your original contract. Read it. Look for the "default" section and the "surrender" section.
✨ Don't miss: Deckers Outdoor Corporation Stock Price: What Most People Get Wrong
Second, call your resort's "Owner Services" department. Ask specifically for the "Loss Mitigation" or "Surrender" department. Use those words. Don't be emotional. Just say: "I am no longer able to use this property and I would like to discuss a voluntary surrender of my deed." If they say no, ask for the supervisor. Keep a log of every call, who you spoke to, and what they said.
Third, if you are still stuck, head over to the Timeshare Users Group (TUG) forums. Search for your specific resort name. There is likely a thread with 50 other people trying to do the exact same thing. They will know which specific person at the resort office actually has the power to sign off on a deed-back.
Fourth, if you're considering a lawyer, check their bar standing. Make sure they are licensed in the state where the resort is located.
Fifth, ignore the "cold calls." If someone calls you out of the blue saying they have a "buyer" for your timeshare, it is a scam. 100% of the time. They will ask for an "appraisal fee" or a "transfer tax" upfront. You pay it, and they vanish.
Ultimately, getting out of a timeshare is a marathon, not a sprint. It requires persistence and a healthy dose of skepticism toward anyone promising an easy fix. You've got to be your own advocate here because the system is designed to keep you paying. Stay focused on the paperwork and avoid the "too good to be true" exit offers.