Even if you already signed a contract to buy a timeshare, almost every U.S. state[i] has laws that give buyers the right to cancel the purchase within a few days. You don’t have to give the timeshare company a reason. You can send your cancellation by mail so you don’t even have to talk to a salesperson. Each state has different laws about how many days buyers have to cancel their timeshares. Here are the rules for each state Vistana operates in.
By Hawaii State law, you can cancel the contract without penalty within 7 days after you sign it.[ii]
In Colorado, you have 5 days to cancel after you sign the contract.[iii]
California law gives buyers 7 days to cancel a timeshare contract.[iv]
According to Florida State law,[v] buyers have 10 days to cancel their timeshare purchase contracts. The 10-day rule applies to both: a) people who buy a timeshare located in Florida, and b) people who are sold a timeshare while they are in Florida, even if the timeshare is located in another state.[vi]
You can cancel your timeshare purchase within 7 days in Arizona.[vii]
South Carolina laws give buyers 5 days to cancel timeshare purchases.[viii]
How do I cancel?
The best way to cancel is to send a written notice of cancellation by certified mail, with return receipt requested. That way you will have proof that the mail has been received. Every timeshare purchase contract should let you know about your right to cancel and give you the name and address of the person to whom to send your notice of cancellation. It should be right above your signature, but if you cannot find that information, send your letter to both the developer/sales company and the escrow agent.
[i] According to this American Resort Development Association (ARDA – timeshare lobby) fact sheet, only North Dakota and Wyoming do not provide mandatory right of rescission periods: https://www.arda.org/uploadedFiles/ARDA/Government_Affairs/Government_Affairs_Call_Out_Boxes/Rescission%20Period%20Chart%208.14.pdf