Right to Cancel a Timeshare in Florida

If you've purchased or are thinking of buying a timeshare in Florida, it’s important to learn the answers to the following questions:

• How do I cancel a timeshare in Florida?
• What disclosures are required in a timeshare purchase?
• What are the timeshare resale laws?
• If I stop making payments, what is the most common type of timeshare foreclosure procedure (judicial or nonjudicial)?
• Will I be liable for a deficiency judgment after a timeshare foreclosure?

Read on to find out some of the most important features of Florida timeshare law. (Be sure to check out Nolo’s Timeshares FAQ for general information about timeshares.)

Right to Cancel a Timeshare in Florida

In Florida, if you buy a timeshare, you can cancel the timeshare contract up until midnight of the 10th calendar day following:

• the date you signed the contract, or
• the day on which you received the last of all required documents, whichever occurs later. (Fla. Stat. Ann. § 721.10 (1).)

This right of cancellation cannot be waived.

If you want to cancel the purchase contract, you must notify the seller in writing. If you do this, the timeshare company must refund to you the total amount of payments, reduced by the value of any benefits received, within:

• 20 days after it receives your notice of cancellation, or
• within five days after it receives the funds from your cleared check, whichever is later. (Fla. Stat. Ann. § 721.10 (3).)