Would you like to know the truth about Mexican timeshare rescission laws? You are at the right place as you will get all the information that you need to know concerning timeshare cancellations in Mexico along with the rescission period laws.
Truth about Mexican Timeshare Rescission Laws
Mexican timeshare rescission laws were brought into place to protect the timeshare companies and the consumers. The rescission laws have guidelines that were put into place for the buyers and the sellers of timeshare, but only if you are purchasing the timeshares from a licensed developer, and this doesn’t include any timeshare resale as you will not be protected with the rescission laws in Mexico if you have purchased a resale timeshare. The information provided here is based upon the rescission laws in Mexico and these laws are only applicable when and whom you have purchased the timeshare from in Mexico as it must have been purchased by a genuine timeshare company.
What is the rescission period and how will it help me?
The rescission period has another name, which is “the cooling-off” period. The rescission period or the cooling-off period is the time when timeshare owners can cancel their contract. You will not be denied the cancellation during the rescission period. No matter what the fraudulent timeshare cancellation scam companies try to tell you. The law in Mexico allows purchasers to legally cancel their timeshare contract during their rescission period and during this period only. The cancellation scam companies trick innocent people in believing that they will need their services, so they can charge you a hefty price and they still don’t deliver a cancellation.
Once the rescission period has already passed, what happens?
After the rescission period has already passed, the Mexico rescission laws are unfortunately able to assist you in cancelling your timeshare contract, and this also goes for timeshare scam companies who try to convince you that they can cancel your timeshare for you, but honestly, they have no ability to do it. They can promise you that they have the ability to cancel your contract, but remember that once the rescission period has already passed nobody or no one can cancel the contract.
Protection is Available from Timeshare Cancellation Scams
Purchasers are protected with the rescission laws in Mexico for timeshare contracts if you have purchased your timeshare with a genuine timeshare company, and unfortunately there are no regulations that will protect purchasers from timeshare cancellation scams. First, you should research the company thoroughly, but the best way to protect yourself if avoiding in contact with the timeshare cancellation scams. If you have been scammed by one of these companies, then you have the right to make a formal complaint against them and you can do this by contacting the Mexican federal department PROFECO. This is the truth about Mexican timeshare rescission laws. You should know the laws before you purchase any timeshare in case you decide that you are not happy with the timeshare and would like to cancel the contract.