Rescission laws for timeshares in Mexico
Rescission laws were brought into force for timeshares in Mexico to protect both consumers and timeshare providers. The current rescission laws provide useful guidelines for both timeshare developers, potential buyers and new owners. These important laws affecting timeshares in Mexico are based on the consumer rights of the buyer while also protecting timeshare developers from the costs and losses incurred by allowing delayed cancellations.
This article concerns the laws that are applicable when you buy a timeshare from a legitimate timeshare company in Mexico.
What is the rescission period for timeshares in Mexico?
Another name for the rescission period for timeshares in Mexico is “the cooling-off period;” this is the period in which you cannot be denied the right of cancellation. Despite what many fraudulent timeshare cancellation companies will tell you, the Mexican legal system supports consumers who wish to lawfully cancel their timeshares in Mexico during the rescission period. Timeshare cancellation companies might trick you into thinking that you need their services even if you are within the cooling-off period.
What happens after the timeshare rescission period has passed?
Once the timeshare rescission period has passed, the laws in place which support the lawful cancellation of your timeshare can no longer help you. You cannot legally cancel your timeshares in Mexico after the rescission period has come to an end. Once again, scammers will try to fool you; they will try to make you believe that there are loopholes they can exploit on your behalf to cancel your timeshares in Mexico. This is simply not the case; once the cooling-off period is over, you have no legal right to cancel your contract. Please beware of false claims that state otherwise.
Protection from timeshare cancellation scams
The rescission laws protect you when you buy a genuine timeshare membership, but there is little protection they can offer you if you buy into a scam. There are few regulations in place to combat cancellation scams, and so the best possible protection is prevention. If any person or company approaches you with the claims that they can cancel your timeshare membership in Mexico, treat them with extreme caution.
If you feel that you may have been involved in a timeshare cancellation scam then you should contact the Mexican Federal Department PROFECO to make a complaint against the cancellation company.
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