When buying a timeshare in Mexico, you can always have a change of mind. That may be because you found another property that you like better, or perhaps you have no more plans to go to Mexico. In rare cases, you may also be subject to timeshare scams.
While it may be hard, there are ways for you to get out of a timeshare in Mexico. Proceed to the discussion below for tips.
Getting Out of a Timeshare in Mexico
Mexico’s timeshare laws are different from the US and many other countries. Therefore, you have to understand this issue from a Mexican perspective first. We aim to give a wider picture below:
Timeshare Contracts are Legally Binding
Remember that timeshare contracts are legally binding for you. That means, once you have gotten into a contract, generally you cannot get out of it. Therefore, you must attempt to read all the conditions of the contract and use those conditions to your advantage wherever possible.
Some of them are briefed below, but you will be able to find many others.
Make Use of the Recession Period to Cancel
According to Mexican law, there is a recession period after you have signed a timeshare contract. In that recession period, you may be able to walk out and cancel your contract.
The recession period lasts for 5 business days, which excludes the weekends and national Mexican holidays. You can view the contents of the contract to see which those days are or consult an attorney if possible.
Consult the Seller Directly for Cancellation
If the recession period is over, you cannot cancel directly. Another method for you would be to approach your seller directly and inform them, so they can refund you your money and find another buyer. However, note that it depends entirely on the temperament of the seller, so you are pretty much at their mercy. Make sure to find someone ready to make this concession.
Consult Office of the Federal Prosecutor for a Claim
This is also an option for you if your seller refuses to refund you. However, remember that the prosecutor will work according to the laws of Mexico and would remain obliged by the contract.
Most of the time, it can be hard to get a claim and get out of the timeshare, but at many other times, this actually works. Make sure to have a detailed discussion with the prosecutor about the timeshare and your plans.
Sell a Timeshare to Someone Else Instead
If nothing else works, the last option for you would be to find someone else that is willing to buy the timeshare. The seller is not likely to switch to them unless they are paying more than you are, or at least equal to you. But if they are of a good heart, they may also buy it at a lesser price. However, it is not legally binding for the seller to do so.
No one wants to get stuck in a timeshare, especially with so many better options around us. As they say, prevention is better than cure, so you should make all efforts to have a healthy and detailed discussion with your seller. This will help clarify everything and act as a source of protection in the future.