Beware of many scam outfits which promise to “rid you of the burden of your Vacation Ownership”. Most of these places charge an exorbitant fee, without completing the transfer of title correctly, or will transfer the title to a “junk” company name rather than an actual buyer, and abandon their responsibilities for that unit. This means you are out of pocket, and still continue to be responsible for the unit. These scams can cause numerous legal issues and should be avoided.
Timeshare Exit Scams Using Coronavirus as a Scare Tactic Unfortunately, unscrupulous timeshare exit companies may attempt to use the Coronavirus pandemic to mislead and take advantage of timeshare owners. We are cautioning our owners to be aware of any third party that promises to exit you or cancel you from your contract.
The American Resort Development Association (ARDA) Coalition for Responsible Exit provides helpful tips to navigate a safe timeshare exit. Watch out for these red flags commonly used by third-party timeshare cancellation/exit companies:
Upfront fee requirements for a resale or exit “service” – be very cautious of upfront fees
“100% money-back guarantees” – these promises are usually offered as a deal closer but rarely, if ever, honored
Attempts to discredit your timeshare product
Requests to complete fill-in-the-blank questionnaires that presume negative allegations against your resort
Invitations to off-property meetings at hotels, restaurants, etc.
Scare tactics about legal claims against your resort
Warnings of forced payment of maintenance fees through inheritance