Timeshare seller Westgate Resorts, Ltd. faces a class action that alleges it has repeatedly violated a federal law intended to protect members of the U.S. military from predatory lending. Westgate Resorts, Ltd., L.P. Central Florida Investments, Inc.
Getting out of a Westgate Resorts timeshare can be daunting and may seem impossible, but there is hope. Unhappy timeshare owners have several different options: deed transfer, timeshare donation, rescission, timeshare resale, and timeshare cancellation.
How do I cancel my Westgate travel club membership?
To receive a refund, canceling Subscribers must write Westgate Cruise & Travel Collection (7720 North Dobson Road, Scottsdale, AZ 85256) or call (800) 572-6169.
Westgate Resorts is an American timeshare resort company founded by David A. Siegel in 1982. The company first expanded from Central Florida to Miami and Daytona Beach. As of July 2021, Westgate Resorts has 29 locations across the United States.
Who is Westgate resorts owned by?
Central Florida Investments
David Siegel is Westgate’s Founder, President & Chief Executive Officer as well as the Chair of its Executive Committee. A self-made visionary, David Siegel has spent more than forty years developing Central Florida Investments/Westgate Resorts into the largest privately owned company in Central Florida.
Simply stated, if you stop making payments on your timeshare loan, you will eventually face foreclosure since a timeshare is considered real property just like a residence (note that the other owners of the timeshare property are not affected in any way by the foreclosure of your interest in the property).
Paying a timeshare exit company: This varies too, but it can range from around $2,000 all the way to $15,000, depending on the amount of contracts you have to deal with and if the company hires lawyers or not.
How Does Timeshare Cancellation Work? Following your initial purchase, you’ll enter a brief cancellation, or “cooling off” period. This window of time is legally mandated in most states. A formal notice of cancellation must be declared by you to the seller within that period in order to get your full deposit back.
The vast majority of timeshare purchasers get the right to rescind the contract within a specific amount of time. Most states (and some foreign countries) have laws giving timeshare buyers at least a few days—usually between three and fifteen—to cancel the agreement.
How to Get Rid of a Timeshare Without Ruining Credit
- Is There a Rescission Period?
- Work with a Timeshare Exit Company.
- Rent Your Timeshare.
- Sell Your Timeshare.
- File Complaints with Regulators and Law Enforcement.
- Give or Sell It Back to the Timeshare Developer.
- Ask your Developer for Help.
A whopping 85% of timeshare buyers regret their purchase, according to a University of Central Florida study. Owners cite expense, maintenance fees, intimidation and lack of use. Whether regret sets in immediately or slowly sinks in over the years, timeshares are notoriously difficult to sell.
Can You Inherit a Timeshare? If your family member, such as a parent or grandparent, owns a timeshare owned in perpetuity, you can in fact inherit a timeshare if you are their next-of-kin or estate beneficiary. Some timeshares are RTU ownerships, and their ownership will expire.
Right-to-use timeshares often expire after a certain number of years, like 20 or 99 years, and at the end of this time, your right to use the timeshare ends.
13) Westgate Resorts – the largest privately held timeshare operator in the world has 23 resorts in its program in leading destinations like Las Vegas, New York City, Park City, Miami Beach, Myrtle Beach and Branson as well as Orlando.
Wyndham Destinations, the world’s largest vacation ownership business as part of Travel + Leisure Co.
What happened at the Westgate Hotel?
The Westgate Hotel was the location of the last large-scale armed rebellion against authority in Great Britain. On 4 November 1839, local politician and activist John Frost led a protest march of 3,000 Chartists, some of them armed, into the centre of Newport.
To get out of a timeshare legally, consider these options:
- Use the rescission period.
- Call the timeshare developer.
- Rent your timeshare out.
- Sell your timeshare on the resale market (but expect to take a hit).
- Gift your timeshare to a friend, family member or stranger.
If a repayment plan isn’t negotiated, the timeshare company might go the route of taking you to court for breach of contract to get a judgment against you and place a lien against the property. Ultimately, they will foreclose on the property.
Can you return your timeshare obligation to the resort? Yes, under certain circumstances. However, most people in an unwanted timeshare deal are on their own if they want a way out. Your final solution is selling it to someone else or receiving help from a trusted timeshare cancellation company.
Most states have a grace period for people who sign timeshare contracts. These dates allow people to rescind their offer within a certain period of time if they’ve changed their minds. You might be eligible to file a timeshare lawsuit if the company neglected to tell you about the grace period.
Only a few timeshare developers have formal programs to accept surrendered timeshares, but many will consider doing so as long as the timeshare is paid off. Ask to speak to the person who handles such surrenders or “deed backs.” If the developer resists, you have a few other options.