Rescission Period With Timeshare Upgrade

One of our users left the following comment on our 10 Steps to Successfully Rescind Timeshare article:

“I have a question and wonder if any of you have done this before.
I am a westgate customer and want out. I have beiong paying for my unit for 4 years, so I have passed the rescission period. everytime I go they over to upgrade me. When I upgrade I will have to sign a new contract, which should void my other correct? If I upgrade then could I use the law of rescission and get out of the contract?
Being that its a “new ” deal…
What are your thoughts.”

This is an interesting thought but unfortunately, you won’t be able to get out of your timeshare this way. If you choose to purchase an upgrade for a pre-existing timeshare with the same company, it’s true that you will need to sign a new contract, which will indeed void your original contract. Rescission laws vary by state, so you’ll need to check the papers you signed for exact information on whether you get another rescission period with the new contract. If you are granted a rescission period with the new contract and choose to rescind, it will only rescind the new contract. Even though the upgrade voided your original contract, rescinding the new contract will just revert you back to your original contract.

rescission period with timeshare upgradeIn some particularly shady cases, the salesperson can even trick you into signing an entirely new contract in addition to the contract you already have under the guise that it’s an upgrade. If you choose to upgrade your timeshare, be sure you read every detail of the contract you sign because it may not mention the previous contract, and you could end up stuck paying for TWO timeshares!

If you’ve passed the rescission period for your original contract and still want to get rid of it, you’ll need to consider one of these tricky but tried-and-true methods instead: selling, transferring, or donating. No matter what situation you’re in with your timeshare, always read the papers before you sign and proceed with caution.

Westgate Smoky Mountain Experience

The following is a user-submitted story about their experience with Westgate in Gatlinburg, Tennessee:

“My husband and I visited Westgate resort in Gatlinburg about 2 years ago and took the informational tour. Salesperson explained that it wasn’t a timeshare, but that we would be investing in property. Of course, we fell for it! About a year ago we started noticing on emails and promotional documents that Westgate was being referenced as timeshare. This shows that we were given false information in order to get us to buy into this scam. I will most definitely be contacting Westgate on Monday.”

Westgate smoky mountainHas anyone else been told by a sales rep that they are investing in property and not a timeshare? If so, you may be able to file a claim against the timeshare seller based on unfair sales tactics used and promises made before you signed the contract. According to NOLO, these claims may be covered under state laws prohibiting unfair business practices or those designed to prevent fraudulent inducement.

However, timeshare sales contracts often include clauses that disclaim any promises made during the sales pitch, and unfortunately, verbal promises do not usually hold up in court against the written contract that you signed. Next time are you are facing the decision to purchase timeshare or not, BE SURE that any promises made verbally are also included in the written contract before you sign on the dotted line.