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.

In 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.

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