Timeshare ownership with Diamond Resorts' US Collection offers vacation opportunities across various destinations. However, circumstances may arise where owners consider canceling their timeshare contracts. Understanding the cancellation policies and procedures is crucial for a smooth exit.

Understanding Diamond Resorts US Collection Timeshare

The Diamond Resorts US Collection is a points-based system allowing members to access numerous resorts within the network. Owners purchase points, which can be redeemed for accommodations, providing flexibility in vacation planning. This system contrasts with traditional fixed-week timeshares, offering more adaptability to owners.

Cancellation During the Rescission Period

State laws grant new timeshare purchasers a "cooling-off" or rescission period, during which they can cancel their contract without penalties. This period typically ranges from 3 to 14 days, depending on the state's regulations where the purchase was made. For instance, in Hawaii, purchasers have a seven-day right of rescission.

To exercise this right:

• Act Promptly: Determine the exact length of your rescission period as specified in your contract and state law.

• Submit a Written Notice: Draft a rescission letter including your full name, contact information, contract details, and a clear statement of your intent to cancel. Ensure it's signed and dated.

• Delivery Method: Send the letter via a method that provides proof of delivery, such as certified mail, to the address specified in your contract.

Timely action within this period is essential to avoid being bound by the contract terms.

Cancellation After the Rescission Period

Once the rescission period has passed, canceling a Diamond Resorts US Collection timeshare becomes more complex but remains possible through several avenues:

1. Direct Negotiation with Diamond Resorts:

   • Contact the Developer: Reach out to Diamond Resorts to discuss potential exit options. They may offer in-house programs or solutions for owners seeking cancellation.

   • Diamond Resorts Transitions™ Program: This program provides safe exit solutions for qualifying owners. Eligibility criteria include owning a qualifying timeshare and meeting other specific requirements.

2. Legal Action:

   • Consult an Attorney: If you believe there was misrepresentation or fraud during the sales process, legal action might be warranted. An attorney can guide you on potential claims and the arbitration process.

   • Arbitration: Many timeshare contracts, including those with Diamond Resorts, include arbitration clauses, requiring disputes to be resolved outside of court.

3. Timeshare Exit Companies:

   • Exercise Caution: While some companies specialize in assisting owners with timeshare cancellations, it's vital to research thoroughly. Beware of firms requiring upfront fees or making unrealistic promises, as scams are prevalent in this industry.

   • Due Diligence: Verify the legitimacy of any exit company by checking reviews, credentials, and any affiliations with reputable industry organizations.

Reservation Cancellation Policies

If you're not seeking a full contract cancellation but need to cancel a specific reservation, Diamond Resorts has established policies:

• Within 24 Hours of Confirmation: 100% of resort points are refunded, and the exchange fee is refunded.

• 89 Days or More Before Occupancy: 100% of resort points are refunded; the exchange fee is not refunded.

• 90–60 Days Before Occupancy: 75% of resort points are refunded; the exchange fee is not refunded.

• 59–30 Days Before Occupancy: 50% of resort points are refunded; the exchange fee is not refunded.

• 29–1 Days Before Occupancy: No resort points are refunded; the exchange fee is not refunded.

These policies ensure that members are aware of potential forfeitures when canceling reservations.

Protecting Yourself from Scams

The timeshare industry has its share of fraudulent entities preying on owners seeking exits. To protect yourself:

• Avoid Upfront Fees: Legitimate companies typically do not require large upfront payments.

• Verify Credentials: Research any company or individual offering cancellation services. Look for reviews, BBB ratings, and industry affiliations.

• Consult Diamond Resorts: Engage directly with Diamond Resorts before involving third parties. They can provide guidance and may offer in-house solutions.

Conclusion

Diamond Resorts US Collection timeshare cancellation policy requires understanding your contract, acting within legal timeframes, and exploring available options. Whether you're within the rescission period or seeking cancellation afterward, informed decisions and caution against scams are paramount. Engaging directly with Diamond Resorts or consulting legal professionals can provide pathways to a successful and secure exit.