Mayan Palace is a beautiful resort located 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, which means that transfers will be expensive. The check-in time at Barceló Maya is 3:00 p.m. and the check-out time is 12:00 p.m., standard for most resorts in the area. WiFi is not available 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 to stay inside a serene place during their vacation.
The reason people like Mayan Palace is that 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 have to pay is considerable revenue for the company. Owners have fewer choices when reselling time-sharing.
Everyone knows that buying a timeshare is not always a good idea. It happens mainly because most people tend to sign timeshare agreements without reading the terms and provisions involved in the contract.
However, although canceling a timeshare contract is not an easy task, 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 not satisfied or have experienced lifestyle changes and no longer want to vacation as in the past, you can decide to cancel the Mayan Palace time-sharing vacation. Maybe 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 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 higher value, rather than trying to sell it on the resale market. If your owner has a time-sharing vacation mortgage, it is difficult to sell. Maybe you can 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 get rid of the Mayan Palace timeshare. This is a good reminder that it is almost impossible to sell it in the resale market.
Mayan Palace time-sharing vacation agents can help resell a small commission. However, most brokers work with owners who have 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 is not applicable 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.
The Timeshare Industry
In essence, a timeshare refers to a method or way of buying the use of a property for a period of time. There are several types of timeshare agreements, but the most popular type is written timeshare.
When you sign a timeshare contract, you are buying 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, be sure to seek the help of 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 while 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. It doesn’t matter the quality of the case. 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 or not. 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 you are relaxed and on vacation.
Timeshare selling techniques
Selling companies offer the individuals to acquire a furnished, equipped holiday apartment located 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 in the event that 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 an investment, 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 the owner of a property. 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 that the buyer does not 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 in practice 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, it happens that the accommodation is rented during the period of provision and that the shareholder goes to the premises thinking he can spend his annual holiday week there before turning back, realizing that he had not been informed of this occupation.
In other cases, the vacation resort cannot be rented during the period of 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 the shares of a partner to a company whose activity is specifically to speculate by buying them at a low price.
Since each case is particular, it is necessary to hire a reliable timeshare exit company to find a solution for you. Since there are hundreds of such companies now, many of which are scams and only aim to steal money from you, we suggest you should choose an authentic company. We at Timeshare Exit Advice can help you find the most suitable timeshare exit company for you. If you sign up with us you can get access to all the data we have organized on hundreds of timeshare exit companies. You can save yourself from being scammed at a very low price. Significantly, our piece of advice is free, so you can always contact us for consultation at any time.
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 at all 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 specialized in the takeover of SCI-sharing shares;
- shares may only be transferred with the approval of all partners.
We see that similar facts have given rise to decisions in a different directions.
One thing is certain: the request for withdrawal for even valid reason, if it wants it to be successful, must be demonstrated by serious and multiple documents and procedures. 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 it took to commit to it. You are not alone: nearly 9 million people own a timeshare. You are also not the only one to regret the purchase. Timeshare is an asset that depreciates and is a continuous expense, without the flexibility of full ownership. In addition, it is the additional expense burden that exceeds the cost of renting in the same complex.
Here are the next steps to get rid of this commitment:
- Contact the company with which you signed the timeshare ownership agreement. Find out if your payment default has canceled 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.
- 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.
- Pay attention to your credit report. With good credit, you must be proactive and explain this problem in your report. Write a hundred-word statement about what happened and ask credit bureaus to attach it to your report.
- Don’t forget the taxes. There may be tax implications for dismantling this. Make sure you have the expense history and the amount of the purchase to provide to your accountant.
For others who plan to get rid of their timeshare: the contract you have signed holds the key to your options when you consider the next steps.
The contract will define the type of timeshare you own. A right-of-use property gives you the right 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 that you actually own part of the property and that you have a deed of sale. This is considered legal real estate and 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 process of seizure and debt collection.
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 may be able to help you.
Stay away from online timeshare outing companies. They are summary, at best, and do not keep their promises. Some companies announce that it will take about $5,000 and more than a year to leave a property. 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, has the right to 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, stay away from anyone who contacts you to sell the property by phone or email.
If you want to cancel your timeshare contract, pay attention to the termination period. In this context, the term “rescission” refers to canceling the timeshare contract and returning any part of the property included in the contract.
Write a Cancellation Letter
If there is still time available 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 canceling the contract, such as “I will contact the ABC company within the termination period to cancel this timeshare contract.”
Although you can write a cancellation letter on your own, it is best to work with an expert lawyer or timeshare exit company to ensure full legal compliance. When hiring a company, make sure they can be trusted.
If you have questions about how to get rid of your Mayan Palace timeshare or any other timeshare in general, please do not hesitate to get in touch with 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 fingertip!