How to Cancel a Timeshare Contract in Las Vegas

Purchasing a timeshare in Las Vegas often seems like an exciting investment for future vacations. However, the extensive legal and financial obligations make exiting very difficult. This guide provides proven steps and insider tips for Las Vegas timeshare owners looking to legally and safely cancel their contracts.

Understanding Cancellation Rights in Nevada

Nevada law gives Las Vegas timeshare buyers a short window to reconsider their purchase:

• You have 5 calendar days after signing the contract to cancel. This is the rescission or “cooling off” period.
• Provide written notice to the developer clearly stating intent to cancel. Send via certified mail or courier service to have proof of delivery.
• Keep detailed records of all correspondence, including your contract, purchase docs, cancellation letter, mailing receipts, etc.
• Certain situations allow for an extended cancellation period:

Situation	Extended Cancellation Period
Received public offering statement < 3 days before signing	15 days after receiving statement
Developer omitted required info from contract	1 year after getting corrected contract
Buyer was over 65 when signing	30 days

• Carefully review documents for any additional cancellation provisions.

How to Cancel Within the 5-Day Rescission Period

Follow these steps to cancel a Las Vegas timeshare within the 5-day window:

1. Compose your cancellation letter:
   • State intent to cancel the contract under your rescission rights.
   • Include identifying information like your name, contract details, property address.
   • Sign and date the letter.
2. Make copies of supporting docs:
   • Purchase contract
   • Proof of payment
   • Public offering statement
   • Receipts
   • Driver’s license
3. Send letter via certified mail or courier service with tracking to developer.
4. Include any down payment made.
5. Keep records of everything sent and received.

Sample Cancellation Letter

[

Date

Timeshare Company Name & Address

RE: Notice of Cancellation of Timeshare Contract [#1234567]

To Whom It May Concern:

I, [Your Full Name], hereby cancel my timeshare purchase contract [#1234567] dated [date] for [timeshare resort name and location] pursuant to my 5-day rescission rights under Nevada law.

I expect a full refund of my $_____ down payment as stipulated in the contract. Enclosed is the payment I issued. I have included copies of my contract and driver’s license for reference.

Please confirm receipt of this cancellation in writing. I can be reached at [your phone and email].

Sincerely, [Your Signature] [Your Full Name]

[Your Address]

]

Read Also: How to Cancel AMVS Online Subscription & Deletion

Steps to Cancel After Rescission Period

Canceling after the 5-day window is very difficult but possible through:

Negotiating with the Developer

• Contact them explaining your desire to cancel and reasons why. Provide supporting documentation.
• Ask about alternative solutions like reselling, renting out, downgrading, or splitting intervals.
• Consider hiring an attorney experienced with Las Vegas timeshares for negotiations.

Hiring a Reputable Timeshare Exit Company

• Vet and compare exit companies with proven success canceling Las Vegas contracts specifically.
• Avoid companies demanding large upfront fees. Only pay after vetting.
• Make sure you fully understand the exit process, timeline and total costs.

Pursuing Legal Action

• Consult an attorney on potential legal remedies like lawsuits for fraud, breach of contract, regulatory violations, etc.
• Understand litigation can be lengthy, expensive and uncertain before pursuing.

Selling Your Timeshare

• Consider selling your interval yourself using resale brokers and online advertising.
• Highlight sought-after details and be extremely responsive to buyer inquiries.

Safely Navigating Cancellation

• Avoid scams. Ignore unsolicited calls promising quick, easy exits.
• Consult consumer protection resources like the NV Attorney General.
• Seek advice from attorneys, financial advisors, and reputable exit companies.
• Start the cancellation process ASAP.

Timeshare Cancellation Preparation Checklist

❑ Timeshare purchase contract

❑ Receipt or proof of any down payment/fees paid

❑ Financing documents (loan agreement, mortgages)

❑ All written communication with the timeshare company

❑ Public offering statement or prospectus

❑ Closing documents from when you purchased

❑ HOA rules and regulations

❑ Maintenance fee invoices and payment records

❑ Title insurance paperwork

❑ Any transfer records if you purchased from previous owner

❑ Tax documents related to timeshare ownership

❑ Your contact information used with the timeshare company

❑ Full legal names of all owners on contract

❑ Identifying details of timeshare property, contract, and account

❑ Notes from sales presentation and your reason for wanting to cancel

Conclusion

Canceling a Las Vegas timeshare is very difficult but possible with a systematic approach. Know your rights, maintain records, seek trusted advice, and carefully weigh all options. With determination and patience, you can terminate those obligations.

FAQs

How much does it cost to cancel a timeshare in Las Vegas?

• Costs vary greatly based on method. Expect fees between $1,000 – $10,000+ for reputable timeshare exit companies. Attorney fees average $350-$500 per hour if pursuing legal action.

What is the best way to get out of a Las Vegas timeshare contract?

• The most successful options are hiring a legitimate exit company, negotiating directly with the developer, or selling the timeshare. Research all companies thoroughly before engaging services.

Can I cancel a Las Vegas timeshare after the 5 day rescission period?

• Yes, but it is much more difficult. Options include negotiating with the developer, hiring an exit company, legal action, or selling the timeshare yourself.

Is it easy to cancel a Las Vegas timeshare?

• No, it is extremely challenging overall. Reputable exits require thoroughly researching your rights, hiring experts, and exercising patience throughout a lengthy process.

How long does it take to cancel a Las Vegas timeshare?

• Most reputable cancellation methods take 4-18 months. Quick fixes are likely scams. Expect a lengthy and difficult process.

What happens if I stop paying Las Vegas timeshare maintenance fees?

• The resort can take serious actions like suspending usage rights, hurting your credit, or even foreclosing. It is advisable to keep paying fees until contract termination.