How to get rid of a Mayan Palace Timeshare?

Mayan Palace is a beautiful resort on a beach on the Riviera Maya, approximately one hour south of Cancun International Airport and 25 minutes from Playa del Carmen. Barceló Maya Palace costs around $407 per night for two. It is all-inclusive, which means that all meals, drinks, entertainment, and some activities are included in the room price. Mayan Palace is further away from the airport so transfers will be expensive. The check-in time at Barceló Maya is 3:00 p.m., and the check-out time is noon, standard for most resorts in the area. WiFi is unavailable at Barceló, although cable Internet is available in the rooms for a fee.

Families who love food, the beach, and a luxurious environment will appreciate this popular complex. However, it is on the quieter side, and its location is quite far from the attractions of Cancun. This is more suitable for families who like staying in a serene place during their vacation.

People like Mayan Palace because it has a flexible and attractive holiday package. However, in some unforeseen circumstances, you may be forced to cancel. Remember, because there is no internal resale plan, the maintenance fee you must pay is considerable revenue for the company. Owners have fewer choices when reselling time-sharing.

Everyone knows that buying a timeshare is only a good idea sometimes. It happens mainly because most people need to read the terms and provisions involved in the contract before signing timeshare agreements.

Read Why Are Timeshares Bad?

If you are looking for options to eliminate your timeshare, we have you covered below.

• Try and sell your timeshare.
• Consult a legal attorney for help.
• Read your contract and check if you are still in your rescission period.
• Donate or gift your timeshare.
• Transfer your timeshare to another timeshare company.
• Rent out your timeshare.

Read How to Rent Your Timeshare Step-by-Step.

However, although cancelling a timeshare contract is not easy, it is not impossible either. In this article, you will discover how to get out of a timeshare contract.

How Do I Get A Refund from Mayan Palace?

• As the owner of the Mayan Palace time-sharing vacation, if you are unsatisfied or have experienced lifestyle changes and no longer want to vacation as in the past, you can cancel the Mayan Palace time-sharing vacation. 
• If you can no longer afford the increasing maintenance costs or whatever the reason, you can cancel and get a refund from Mayan Palace.
• The cancellation policy guides each owner there. If you have purchased a time-sharing vacation in the past few days, it is best to use the state revocation law to cancel it. 
• In most states, time-sharing owners can cancel their purchases a few days after purchase. You can find information about revocation laws in the documents received when buying a Mayan Palace time-sharing vacation.
• Please follow the instructions strictly. Mayan Palace will have no other choice but to refund the full amount. If you buy directly from the resort developer, the value of the time-sharing vacation will be reduced to about 50% of the original purchase value. Don’t expect to receive cash for Mayan Palace’s time-sharing vacation.
• Returning the time-sharing vacation directly to the company or Mayan Palace is the best choice to get a higher value rather than trying to sell it on the resale market. It is easier to sell if your owner has a time-sharing vacation mortgage. 
• Consider providing hosting options for leaving the company for help.

How Do I Sell My Mayan Palace Time-sharing Vacation?

• It is difficult to sell in the resale market. It’s better to do some research. Some desperate owners even offered to pay transfer and closure fees to eliminate the Mayan Palace timeshare. 
• This is a good reminder that selling it in the resale market is almost impossible.
• Mayan Palace time-sharing vacation agents can help resell a small commission. However, most brokers work with owners with higher value or time-sharing vacations on demand. 
• Resale companies can charge higher upfront claims or fees to resell timeshare vacations with profits, which is a scam.
• It does not apply to anyone who recommends an advance payment. Some companies provide refund guarantees to attract your signature to process the sale of time-sharing vacations. 
• We suggest working with companies that do not need prepaid or hosting options.

Read Legitimate Exit Companies that Buy Timeshares.

The Timeshare Industry

• In essence, a timeshare refers to a method or way of buying the use of a property for some time. There are several types of timeshare agreements, but the most popular type is written timeshare.
• When you sign a timeshare contract, you buy a vacation unit for a specific period. This period varies according to each contract so it can be the rest of your life, the number of years specified in the contract, or until you decide to sell the unit to another person.
• Despite everything, if you want to get out of a timeshare agreement, seek help from a professional timeshare exit company to evaluate your case.
• This system was developed in the 1970s/1980s and allowed many families without high incomes to benefit from holidays in tourist areas where full ownership is made difficult (interest resorts or winter sports resorts).
• These participations have long been marketed under the misleading name of timeshare. In contrast, the occupants of the same timeshare are not owners of the property but only partners of the company and holders of shares conferring rights and obligations.
• Many buyers are now elderly and find themselves in a difficult situation since they have to pay partner charges for housing they can no longer enjoy (health problems, difficulty moving, etc.).
• If you tend to be an impulsive buyer, do not go to any presentation on timeshare – no matter what they offer you “for free”. Don’t forget that you are signing a contract. This is a long-term contract that should not be made on a whim. The quality of the case doesn’t matter. As with everything, if the case is only valid for today, move away.
• Holidays are a discretionary cost. Once you have a timeshare, you can have a property to go to, but you have to pay whether you go there. What happens when you don’t have any other money? Or a bad year. 
• Or an illness or pandemic where you can’t go to your destination. It will always be an expense. And although you are co-owner of a property, you only own 1/52 (one week out of 52) of the property. And you are governed by an association of owners with the power to add fees and make changes outside the property. 
• Your vote will not count in future decision-making as compared to when you own a pure and simple property.
• The best way out of a complicated and expensive situation is to sign nothing while relaxing and on vacation.

Timeshare Selling Techniques

Selling companies offer individuals the opportunity to acquire a furnished, equipped holiday apartment in a leisure residence.

They have several selling points:

• The purchase price is very reasonable.
• It allows you to enjoy accommodation in a summer setting.
• The apartment can be rented if the buyer does not wish to use his availability period.
• The selling company offers to manage the rental and pay the rent collected to the buyer; this operation is a profitable investment.
• The provision of a period of enjoyment of the apartment can be exchanged, which allows you to change your holiday place from year to year.

In reality, after buying the timeshare, it becomes a huge burden.

• Indeed, when the buyer signs the contractual document, he believes he is becoming a property owner. However, he does not become the holder of any ownership rights in the said dwelling. 
• He only acquires a few shares in a civil real estate company and becomes a partner of the said company. However, this status as a partner has the disadvantage of exposing him to the payment of heavy partner charges that are increasing steadily in circumstances the buyer cannot control. 
• The latter is faced with calls for funds that may be quarterly that correspond to the costs of maintaining the building, the costs of equipment and replacing the furniture, and the various costs of managing the building, all charges from which he will never be able to free himself. Indeed, to get rid of these associate charges, you still have to be able to sell your shares. 
• However, these shares are not transferable because there is no timeshare market. No potential buyer wants to buy a sham property right that is ultimately similar to fraud.
• In addition, the management of the rental and collection of rents by the SCI’s agent is not satisfactory because it is not transparent and reserves happy surprises for shareholders.
• Indeed, the accommodation is rented during the provision period, and the shareholder goes to the premises thinking he can spend his annual holiday week there before returning, realising that he has yet to be informed of this occupation
• In other cases, the vacation resort cannot be rented during the time considered, and the holder of shares does not receive the expected rent. This operation does not provide any return on investment, contrary to what was indicated by the seller.
• In other cases, the accommodation may have been rented during the week in question, but the shareholder does not receive the expected rent and does not receive statements of account.
• Rents are not returned to the holder of shares on the pretext that the latter is a debtor of his associate’s expenses. We, therefore, see that the contractual operation presents more risks for the buyer than for the seller, the latter having the assurance of seeing the partner charges paid through the retention of rents.
• Finally, we note that the exchange of residence promised by the seller is not easy to achieve concretely, especially since there are tourist places that are poorly provided with residences assigned to “time-share”.
• The only way to get out of business for the holder of shares exposed to a case of over-indebtedness is to manage to resell a partner’s shares to a company whose activity is specifically to speculate by buying them at a low price.
• Since each case is particular, hiring a reliable timeshare exit company is necessary to find a solution for you. Since hundreds of such companies exist, many of which are scams and only aim to steal money from you, we suggest you choose an authentic company. 
• At Timeshare Exit Advice, we can help you find the most suitable timeshare exit company. If you sign up with us, you can get access to all the data we have organised on hundreds of timeshare exit companies. You can save yourself from being scammed at a very low price. Significantly, our advice is free, so you can consult us anytime.

How to Withdraw

If you are one of those people who have already been tricked into buying a timeshare, you should continue reading to explore your options now. 

• Tired of spending their holidays in the same place or overwhelmed by too high charges, many owners of weeks in “timeshare” (timeshare real estate) want to resell or exit. 
• But caution is required because the intermediaries who show up to facilitate the transaction are not driven by good intentions, far from it.

The question then arises as to how to withdraw from the said company.

To withdraw, the partner must:

• Either has his request for the transfer of shares validated by a unanimous decision of the partners at a general meeting of the company;
• Either wait for the dissolution of the company;
• Either exercise his withdrawal of duty if the shares were received by succession less than two years before the withdrawal request;
• Or have your right of withdrawal validated by a Court for a just reason(s).

It is difficult to find a buyer for the shares for two main reasons:

• there is almost no secondary market for occupancy shares because of the absence of a buyer; only a few speculating companies have specialised in the takeover of SCI-sharing shares;
• shares may only be transferred with the approval of all partners.

Similar facts have given rise to decisions in a different direction.

One thing is certain: the request for withdrawal for even valid reason must be demonstrated by serious and multiple documents and procedures to succeed. The whole process is burdensome and consists of legal complications. Hiring a professional timeshare exit company may be your only option to prosper in getting rid of your timeshare.

Get Rid of the Mayan Palace Timeshare.

• If you bought a timeshare, but it’s not as good as you thought, you should act as quickly as possible. The more you wait to get out of a shared time, the more complex it becomes.
• Freeing yourself from this obligation takes longer than the two hours of committing to it. You are not alone: nearly 9 million people own a timeshare. You are also one of many who regret the purchase. 
• Timeshare is an asset that depreciates and is a continuous expense without the flexibility of full ownership. In addition, the additional expense burden exceeds the cost of renting in the same complex.

Here are the next steps to get rid of this commitment:

1. Contact the company with which you signed the timeshare ownership agreement. Find out if your payment default has cancelled the contract. For many, this will cancel the contract, and your property will return to the company of origin. Ask for it in writing for your files.
2. Settle with the collection agency by paying the unpaid amount. This is a debt that now belongs to them, and not to the timeshare company, and must be managed separately.
3. Pay attention to your credit report. With good credit, you must proactively explain this problem in your report. Write a hundred-word statement about what happened and ask credit bureaus to attach it to your report.
4. Don’t forget the taxes. There may be tax implications for dismantling this. Ensure you have the expense history and the amount of the purchase to provide to your accountant.

For others who plan to eliminate their timeshare, the contract you signed is key to your options when considering the next steps.

• The contract will define the type of timeshare you own. A right-of-use property allows you to use the condo for a certain time each year. Most have an expiration date, which can be between five and 99 years. 
• A deed of ownership means you own part of the property and have a sale deed. This is considered legal real estate; you own it until you sell it.
• The first place you should go is the company that sold you the property. Ask for the process to return it to them. Many would prefer you to return it to them rather than go through the seizure and debt collection process.
• If the company that sold it to you is not useful, collect valuable information from the American Resort Development Association (ARDA). They can be useful if you are also considering reselling a timeshare. In addition, if you have not kept the original contract or good records, ARDA can help you.
• Stay away from online timeshare outing companies. They are summary, at best, and do not keep their promises. Some companies say leaving a property will take about $5,000 and more than a year. 
• Don’t throw the good money after the bad. They operate on fear, including inheritance planning problems. For example, anyone who inherits anything, including a timeshare, can refuse it.
• Timeshare companies are not regulated and regularly go bankrupt. Companies that sell timeshares do not associate with timeshare exit companies, as some announce.

Also, avoid anyone contacting you to sell the property by phone or email.

There are two useful websites – the ARDA and the Federal Trade Commission.

If you want to cancel your timeshare contract, consider the termination period. In this context, the term “rescission” refers to cancelling the timeshare contract and returning any part of the property included in the contract.

Write a Cancellation Letter

• If there is still time to terminate the timeshare agreement, you must notify the seller with a cancellation letter. The Florida Statutes § 721.10 (3) stipulate that the timeshare company must reimburse you the total amount paid, less the value of the benefits received.
• The timeshare company must do so within 20 days of receiving the cancellation notice or within 5 days after receipt of the funds from the cashed check from customers, whichever comes later.
• When writing a cancellation letter, you must include information such as the current date, your personal information (full name, address, phone number, email contact, etc.), the name of the company, a description of the timeshare, and the date on which the purchase was made.
• In addition, the letter must include a clear statement that you are cancelling the contract, such as “I will contact the ABC company within the termination period to cancel this timeshare contract.”

Read The Timeshare Rescission Letter.

• Although you can write a cancellation letter independently, working with an expert lawyer or timeshare exit company is best to ensure full legal compliance. When hiring a company, make sure they can be trusted.

If you have questions about removing your Mayan Palace or any other timeshare, please do not hesitate to contact us. We will help you take the first step towards living a burden-free life. Fill out the form below or call us right away. We are at your fingertips!