Can I rescind my timeshare purchase?
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Can I rescind my timeshare purchase?
We bought a timeshare in Florida and
decised to sign and send the ‘right to
rescind’ letter. Florida law allows 10
days to do so. The question is, when
does the clock start? We signed the
contract after business hours on March
31st. I sent in the right to rescind letter
on April 10th. The letter provided by
timeshare company has a space to
enter the deadline we should have
submitted by but they left it blank. The
confusion comes in the definition of
‘day.’ Is this a 24 hour period, does it
commence the day after the contract is
signed…?
Asked on April 10, 2017 under Real Estate Law, Indiana
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
I think that you are within the time limits under the Florida Law. Generally the time starts to run the next day. The right to rescind is set by statute so even if left blank, the law would assume it was ten days (if you cancelled after the ten days, though, I would argue that you were not advised if it was not anywhere else in the contract). I hope that you sent the letter with some kind of tracking like certified, registered or certificate of mailing so that you have proof that it was sent on time. Good luck.
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