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Contract rescission (cancellation)... (by KC):

andreab428 wrote:

I'm glad you had a good outcome getting out of your timeshare. I am in the same position now. I sent a cancellation letter via certified mail just 3 days after signing. They just received the letter today. I'm wondering how long did you have to waiting to get your confirmation that your timeshare contract was cancelled?

carlosa125 wrote:

Probably no one would care much; but...

I just received a letter from the Resort confirmation that my contract has been cancelled and the funds re-imbursed. I cant believe it and hope the best outcome for anyone dealing with the burden of this type of contracts.!!

will be looking forward to book / rent from you guys in the future.

best for all!

The carlosa125 post you quote is 5 years old now; it is unlikely there will be a reply.

State laws require that a timely and properly submitted rescission (cancellation) be processed, with 100% refund of any and all money or deposit paid within 45 days. The refund will be issued back to the exact same means by which the deposit was paid (check, same credit card, etc.). If submitted after the particular state law deadline (3-10 days, depending on the individual state), rescission / cancellation is not possible and deposit will not be refunded. All of this is true no mater who the developer might be (you didn't identify yours, but it doesn't really matter --- state law dictates rescission matters, not the whims or preferences of any developer).

The law does not actually require that you be "updated" or "contacted" in any way. They might send a confirmation letter, but are not actually required to do so. Their only obligation is to cancel the contract and issue a 100% refund --- no more, no less. Customarily, the whole rescission process is completed within 30 days.