Getting rid of my Mexico timeshare can be complicated and time consuming. The right way to go about it is to contact a consumer protection law organization for guidance. If you’ve gotten into trouble with your timeshare, you might be able to obtain a monetary settlement. You can also seek legal advice from a real estate attorney to make sure your timeshare is in the right hands.
You can also ask for a refund from your timeshare provider. This is particularly important if you bought your timeshare in Mexico, because the laws there are much more stringent than in the U.S. You can also file a complaint with PROFECO, which is Mexico’s consumer protection agency. If you do, you can obtain a judgment against your developer.
You should be aware of the Federal Consumer Protection Law (NOM) before you make your purchase. This law is designed to protect consumers from unscrupulous developers. It also requires timeshare developers to compare foreign real estate to ensure they’re not selling you a dud. A real estate attorney may be able to negotiate a better deal on your behalf.
A real estate lawyer can also tell you which timeshare has the best rescission policy. Timeshare contracts in Mexico generally have a life-span of three to 100 years, meaning you may have to pay for many years worth of timeshare. The length of time you own your timeshare will depend on several factors. Buying a timeshare in Mexico is a complicated decision, so do your research first.
The most important step in getting rid of your Mexico timeshare is to follow your developer’s cancellation policy and legal instructions carefully. This will ensure you don’t get stuck with any of the stipulations, such as paying for a yearly maintenance fee that’s more than the price you paid for your timeshare. You should also be aware of the fact that your credit score may be ruined if you fail to make payments. Know on how to get rid of my Mexico timeshare.
You might be able to cancel your timeshare on your own, but it’s not always the easiest thing in the world. You’ll need to be aware of the legal pitfalls, including the fact that you won’t be allowed to own real estate in Mexico if you’re not a Mexican citizen. A timeshare exit company can also help. These companies have a lot of expertise and financial muscle to get your timeshare removed from your hands, but be sure to choose wisely.
The Mexican government is responsible for protecting its citizens from scams and rip-offs. One such example is the timeshare-related rescission law (LORM), which gives consumers a five-day window to cancel their timeshare contracts. Of course, you’ll want to make sure you get a written cancellation letter from your timeshare provider so you don’t get hit with the dreaded five-day penalty.
There are also consumer protection law organizations in Mexico that can give you a hand. You may want to consult with a lawyer, but a consumer protection law organization can provide you with the information you need to make an informed decision.