Cancellation of Timeshare Agreement (Right of Withdrawal)

What is a Timeshare?

A timeshare agreement is a contract, made in an official form, in which the ownership right of a building or independent section suitable for residential use for certain periods of the year and for at least fifteen days within the year is agreed in writing between the timeshare buyer and seller. Timeshare sales are marketed by companies through intensive advertising campaigns. In advertisements, the health effects of thermal water are often emphasized, or in summer resort areas, the attractiveness of the location is promoted. However, it is not mandatory for a timeshare to have thermal features.

Consumers invited for promotions are kept under loud music for the whole day, leading to fatigue and reduced judgment. During these marketing activities, companies often mislead consumers, and specially trained personnel compel consumers to purchase timeshares.

Timeshare owners are given a title deed, and the agreement is registered with the land registry. Timeshare sales that are not conducted in compliance with this official procedure at the land registry office are invalid. In such cases, even if the withdrawal period described below has passed, a lawsuit can be filed to cancel the contract. In this regard, it is essential to consult a lawyer and have the documents reviewed.

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What is the Withdrawal Period for Timeshares?

As a general rule, the withdrawal period from a timeshare agreement is 14 days. However, if the legal requirements are not met or the agreement lacks mandatory elements specified by law, the 14-day withdrawal right is extended to 1 year. These deadlines are crucial and must be evaluated by a lawyer.

14-Day Withdrawal Right

Consumers who have signed a timeshare agreement under misleading advertising and marketing tricks often regret it the next morning and look for ways to cancel the agreement. It should be noted that consumers who have signed such an agreement and want to cancel it must act quickly. Due to the agreement signed and promissory notes taken in installment sales, consumers may become indebted and face enforcement proceedings. In such cases, the consumer is not required to provide any reason or pay a withdrawal fee when canceling the contract. According to the relevant provision of the Regulation on Timeshare and Long-Term Holiday Service Agreements, the consumer has the right to withdraw from the timeshare agreement within 14 days from the date of signing without providing any reason and without paying any withdrawal fee (except for prepayment contracts).

Extended Withdrawal Right

In some cases, even if the 14-day period has passed, the right to cancel (withdraw from) a timeshare agreement can be extended for 1 year, and this extended withdrawal period can be exercised. The extended withdrawal right arises if the seller fails to fulfill or omits the conditions specified by law. In practice, this often occurs when the pre-information document and withdrawal form are not provided to the buyer in due form or not provided at all. In such cases, and in other situations specified by law, the right to withdraw from the timeshare agreement is extended for 1 year.

How to Exercise the Right of Withdrawal?

If the withdrawal right is to be exercised for the termination of the timeshare agreement, it must be notified to the seller in writing within the 14-day period. This notification must be made via a notary for proof purposes. Using the withdrawal right via a phone call cannot be proven later, leading to loss of rights and difficulty in proving. Although the withdrawal right has been exercised within the period, many sellers do not refund promissory notes and payments, assuming consumers cannot pursue subsequent legal actions (lawsuits, enforcement proceedings, etc.) on their own. Therefore, it is necessary to immediately apply to a lawyer and file a lawsuit for the cancellation of promissory notes and the return of payments. Especially in cases where the withdrawal period has been missed and the withdrawal right has not been exercised, it is essential to consult a lawyer. Even if the withdrawal period has passed, if the timeshare sales contract was not executed at the land registry or a notary, the contract and promissory notes can be canceled through a lawsuit without any time limitation.

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How to Recover Payments Made?

If the consumer withdraws from the timeshare agreement within the legal period, the seller is obliged to return the promissory notes and payments received from the consumer under the contract. However, in most timeshare cases we follow, sellers do not return the payments or promissory notes, assuming consumers cannot file a lawsuit on their own. In this case, to avoid problems with promissory notes, it is necessary to file a lawsuit for their cancellation and the refund of payments. Otherwise, the seller may endorse the promissory notes to others and initiate seizure proceedings against you.

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What Happens If Timeshare Installments Are Not Paid?

Consumers sometimes believe that the seller has forgotten them, has not called, has not demanded payment, or has not initiated enforcement proceedings after some time, or that they exercised their withdrawal right by phone, and therefore stop making payments. In this case, unpaid installments can be collected from the consumer with interest and costs. What should be done here is to file a lawsuit for the cancellation of the timeshare agreement and promissory notes. Otherwise, the seller may initiate enforcement proceedings for the unpaid installments and collect them.

If a timeshare was purchased through psychological pressure and misleading promises and advertisements, such as being invited to a hotel with the claim of winning a free holiday, and if you want to cancel it, you should definitely consult a lawyer instead of the seller. This is because sellers often deliberately mislead individuals about the legal process. However, if you consult a lawyer specialized in timeshare cases, the lawyer can file the correct lawsuit quickly, and you can get out of this situation quickly and safely with a court decision.

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What Should Timeshare Victims Do?

When withdrawing from a timeshare agreement, the seller is obliged to return the payments and promissory notes received from the consumer and to carry out the cancellation of the agreement. However, even if you have exercised your right of withdrawal, some companies do not carry out the refund process, assuming that consumers cannot follow up on the subsequent processes on their own. In such cases, legal actions such as filing a lawsuit or initiating enforcement proceedings against the seller who fails to fulfill their obligations after withdrawal must be taken. For consumers without legal knowledge, these processes take a long time and can lead to mistakes and victimization. Therefore, it is necessary to seek assistance from a lawyer experienced in terminating timeshare agreements. The lawyer handling your case is experienced in this area, can assess all possible situations, choose the best course of action for you, perform all necessary steps in due form, and expedite the process. In this way, you can achieve the fastest result in canceling/withdrawing from the timeshare against the seller.