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Timeshare Agreement Template
What Is a Timeshare Agreement?
A Timeshare Agreement is a formal document signed by the property owner and one of the multiple tenants or purchasers of their real property, often used as a vacation resort to visit for weeks or months throughout the year. You can share the cost of the real estate in question with other people to guarantee time at the property - select a specific time within the year to stay at the place or opt for a floating week to choose within a certain limited time.
You can download a printable Timeshare Agreement template via the link below.
How to Write a Timeshare Agreement?
Follow these steps to compose a Timeshare Agreement:
- Determine what kind of arrangement is suitable for you - it is possible to choose between a Timeshare Purchase Agreement and a Timeshare Rental Agreement. If you are sure the location is perfect for you and you have money to finance the deal, buy a timeshare. However, if you want to remain flexible and be open to other accommodations in the future, rent a timeshare - you can always negotiate a purchase later.
- Identify the parties to the contract - a property owner and a tenant or purchaser.
- Describe the property in question - add its legal address to avoid confusion.
- Confirm the intention of the owner (seller) and tenant (purchaser) to sign a deal - you may rent a portion of real estate or buy a share. State the time period during which the tenant may occupy the real estate.
- Indicate the payment details and determine the method of payment. Typically the tenant pays every year while the purchaser needs to make a full payment.
- List the rights and obligations of the parties. For instance, a sample Timeshare Rental Agreement might include a ban on smoking and permission to let other people stay with you at different times - if you rent a big house, it is possible you will invite guests for the duration of your own stay.
- Sign and date the document - before a notary public if you wish to add an extra level of protection to the contract.
How to Get Out of a Timeshare Agreement?
Getting out of a Timeshare Agreement can be tricky. Here is how you should start a cancellation process for your timeshare:
- Prepare a written document - record every step of the way. Even if you think a phone call is the best way to deal with the situation, it is highly recommended to prepare documentation that may be useful as evidence later - to prove your intention to get out of the contract.
- Be clear from the beginning of the letter - your goal is to cancel the timeshare. There is no need to be rude, but be firm yet polite. To make sure the recipient understands the note clearly you may even title it "Cancellation of timeshare" or write these words in the subject line of the email.
- Explain the motivation behind the termination if you want to. While it is not necessary, your feedback can be helpful for the owner or agent you are sending it to.
- Offer to discuss financial details of the arrangement - you may request a refund or, if you owe money, inquire how the other party would like to receive your payment.
- Thank the other party for their attention and ask them to contact you within a reasonable time - one or two weeks. Sign and date the document. You may send the letter via certified mail or simply create an email if you have always communicated with the property owner this way.
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