Get Out of Cancun Palace Resort Timeshare

Palace Elite owns several hotels worldwide, including the five-star Cancun Palace Resorts. The Cancun Palace Resorts Vacation Club is their timeshare program.

Palace Resorts, which opened its first hotel in 1984, has since expanded to include other high-end properties around Mexico, including, somewhat unexpectedly, in Jamaica’s Ocho Rios.

The Palace Resorts holiday chain includes 11 five-star hotels in popular travel destinations like Cancun, Cozumel, and the Riviera Maya. There comes the point when everyone’s way of life changes, and the timeshare they once wanted is no longer practical. You’re more desperate than ever to eliminate those ever-increasing maintenance costs.

Customer’s Review of Cancun Palace Resort Timeshare

There are several factors to consider if you are a timeshare owner of this company and are considering canceling your membership. When we investigated the program, we discovered various reasons why customers wanted to cancel Cancun Palace Resorts timeshares.

• Very poor service to customers
• Neglecting to issue due credits and refunds
• Methods that are too aggressive in their pursuit of further contributions from existing members

We also discovered that Cancun Palace Resorts has, in addition to the reviews and comments we just mentioned:

Pissed Consumer gives them a 2.6 out of 5 stars, while the Better Business Bureau gives them a 1 out of 5.
Multiple unsatisfactory reviews and low scores on ComplaintsBoard.

Below are some of the most common gripes we heard regarding the Cancun Palace Resorts and its parent firm.

From PissedConsumers:

• “Lied to us to get membership” At the timeshare presentation, they will completely lie to you and promise you untrue things. The representative, Alex (who lives in Cancun but was working Jamaica location when we went), told my wife and me we could exchange our week with Palace for more points per exchange than our current timeshare through Interval. He even showed us some paper that had exchange tiers and said Palace would be tier 1 which was 50k+ points. Our current timeshare, we were getting 43k points, and Alex knew that was the only reason we signed up to get more points per exchange. They will say everything will be emailed to you, but of course, they don’t include all the numbers and lies they scribble down in front of you. After a couple of months, when we came back, we finally got an Interval login for our new Palace membership, only to find out you cant exchange weeks for points, and nothing Alex said was true. Since they are located in Mexico and have no office in the US, litigation is out of the picture, and you won’t be able to charge back the down payment they require when you sign up. DON’T FALL FOR THESE SCAM ARTISTS’ LIES! Avoid the presentation; it’s not worth the credits, and if you do, nod your head and leave. Don’t be bait and switched like us. User’s recommendation: Avoid”

From ComplaintsBoard:

• “Palace Resort in Mexico, Cancun review: Stay away from falling into the scam!”
• “With spring vacation nearing, I would like to warn all American who are traveling to Mexico to stay away from the Mexican Timeshare scam. In our last vacation in the Moon Palace in Cancun Mexico, April 2006, we felt the room was too small. We approach someone at the information desks and asked about the tours and if we could change our room to a suite. She said it is too late to change the room. But, she can show us how a Suite looks like. She was supposed to meet us but passed us to a person that we later found out was a Finance Manager of Palace. A simple showing turned into a four-six hour sales pitch. We signed the contract that at time seemed to be a fair. Later, when we came back to US and tried to make reservation for our next vacation, we were told that we have pay thousands of dollars for the preferential rate of the room. The rate is the same as the rates that we could get at any travel agency. Our nightmares started then. We immediately contacted Palace and asked them to cancel our contract. They did not respond. We immediately contacted our credit card company by phone and requested not to honor any of the charges from them. Since then, we have been researching about our situation through internet and now we realize that we, like many others have been a victim of a complicated scam. Palace is in the top three most complained about and has the most claims against it in the vacation industry. Now we are having a problem with our credit card company.”

Class Action Lawsuit against Cancun Palace Resort Timeshare

• Rabie Cortez v. Palace Holdings, 66 So. 3d 959 (Fla. Dist. Ct. App. 2011) Court: District Court of Appeal of Florida, Third District Aug 24, 2011

• Shahla M. Rabie CORTEZ, Petitioner, v. PALACE RESORTS, INC., et al., Respondents.No. SC11–1908. Decided: June 20, 2013

Timeshare Rescission Law

Did you buy a timeshare from Palace Resorts? Then, you’ll want to move quickly! The Truth covers all timeshare purchasers in Lending Act’s rescission law (TILA).

A rescission period can span anything from 3-14 days; this may vary depending on the state where your timeshare is located. The rescindability of your purchase ultimately depends on the laws of the state in which you made it.

We like to recommend looking into the rescission legislation in your state if you are unsure of how long your rescission time is. Presently, this has nothing to do with the location of your home state. By “rescission laws,” we mean those of the state where the timeshare is physically located. A timely realization of this fact could save you hundreds of dollars.

Most hotels need a written cancellation letter to be sent by regular mail should you decide to cancel your reservation. To avoid any complications, we like to recommend investing in aided mail. The letter is best mailed overnight via certified or registered mail so the timeshare developer has to sign when they receive the mail. This prevents the timeshare developer from saying they never got the letter. Putting a few more dollars into your budget could save you a ton of money in the long run. In a flash, you can learn all about the right to back out of a contract.

The Difference Between Timeshare Resale and Timeshare Exit

Those interested in selling a Palace Resorts timeshare should familiarize themselves with the process. When you buy a timeshare, its value drops nearly immediately.

The salesperson at Palace Resorts lied if they said your timeshare would improve in value over time. Search “timeshares” online or check out sites like eBay or RedWeek to get a sense of what we’re talking about. Most timeshares are listed for as little as one dollar. It’s also important to understand that, in addition to covering the ongoing costs of upkeep, you may incur some additional final charges before you can make a profit on the sale. You need to ask why anyone would pay full price for your timeshare while others are selling theirs for a dollar.

Contrary to common belief, timeshares have nothing in common with property ownership. Of course, a timeshare at the Palace Resort would be the same. You can expect a passive monthly income from a normal real estate investment. Timeshares come with yearly and monthly fees, which is a bummer. It doesn’t sound like a piece of real estate.

Timeshares at the Palace Resort can be extremely expensive, not to mention complicated to sell. The best way to do it is legally if you wish out of your timeshare at the Palace Resort. Picking the best timeshare cancellation company out of the many available options can be challenging.

Timeshare exit firms that deserve your trust will staff their operations with legal minds dedicated to finding any hidden loopholes or false promises in your contract. They will likely probe you with questions about the timeshare pitch and how they handled you. While some timeshare exit companies may provide an escrow service, most competitors do not.

We like to recommend hiring a timeshare exit firm that requires no initial payment and provides an escrow service for your protection.

Escrow Payment and Why It is Important

You cannot guarantee that the timeshare exit business will complete the services it promised if you pay in advance. You risk losing your money if the corporation never actually cancels your timeshare. That’s why it’s crucial that you only deal with timeshare exit firms that let you deposit funds into an escrow account.

The funds for the timeshare exit service might be held in escrow, a separate bank account managed by a neutral party. If the timeshare exit service is not carried out following the terms of the contract, the escrow business will refund your payment. Having the timeshare exit business answerable to you in this way is crucial. Your timeshare cancellation must be processed and approved by the firm before you receive any compensation. This motivates the timeshare exit firm to finish the job for which it was appointed.

Cancun Palace Resort TImeshare Deedback Program

You can return your timeshare to the resort when you use a deed back clause or program. In the meanwhile, you’ll have to keep up with your mortgage payments and any applicable maintenance or special assessment costs.

If your contract includes a deed-back provision, you can return the resort’s title to the developer under certain circumstances. It’s rare for a resort to receive a deed back from a homeowner who is overdue on maintenance payments or still has a property mortgage. Since you are simply returning the property, no monetary exchange takes place. You will lose any equity in the house, but you will also have no additional financial responsibilities.

Benefits of Getting Rid of Your Timeshare with Cancun Palace Resorts

• Don’t Keep Paying Exorbitant Maintenance Costs

The most important benefit you’ll enjoy when you exit Cancun Palace Resort Timeshare is putting a stop to high maintenance fees. The timeshare business has complete control over the number of liability bills, also known as special assessment fees, given to owners. For example, in a natural disaster at a hotel, you might be expected to contribute to the cost of repairs.

In addition, you’ll have to pay a yearly maintenance cost, which could be invoiced monthly or all at once. These costs are in addition to the monthly timeshare mortgage payments. There might be significant interest payments if you borrowed money to buy the timeshare. Leaving the timeshare allows you to stop paying these fees.

Conclusion

We know how difficult it is to keep up with the endless annual maintenance costs. We discovered that timeshares are not worth it due to the high financing costs. When it comes to timeshares, a Palace Resorts unit is like any other. No wonder some Cancun Palace Resorts timeshare owners are looking for a way out, given all the rumors and horror stories surrounding the exiting of timeshares. The good news is that those who do have options to consider.

Our aim in creating this website is to shed light on the business practices of timeshare developers and exit businesses. If you’re looking into buying a timeshare, you should assume the worst. The vast majority of frauds are reliably tallied. So, we like to recommend timeshare exit firms that provide escrow and don’t demand any upfront fees.

If you’re looking to get rid of Cancun Palace Resort Timeshare, browse our list of trusted timeshare exit companies, call 619-354-2362, or submit a contact form or live chat on the right side of the page.

FAQs

• How Can I Get Out of Cancun Palace Timeshare legally?

Timeshare exit companies help owners legally terminate their timeshare contracts. The exit firm will assign you a team of lawyers. The cost and results of services may vary. Timeshare exit companies give “exits” and cancellations services.

• When Can I Begin the Cancellation Process for My Timeshare?

The sooner you commence the cancellation of your timeshare, the sooner you will be free of the costs and debt associated with timeshare ownership.

• How Long Does Canceling a Timeshare take?

How long it takes depends entirely on your circumstances. There is a range of time frames for canceling a timeshare, from a few months to two years. That is why we like to recommend trustworthy exit companies offering an escrow payment option.

Links To All Lawsuits

• • Rabie Cortez v. Palace Holdings, 66 So. 3d 959 (Fla. Dist. Ct. App. 2011) Court: District Court of Appeal of Florida, Third District Aug 24, 2011

https://casetext.com/case/rabie-cortez-v-palace-holdings

• • Shahla M. Rabie CORTEZ, Petitioner, v. PALACE RESORTS, INC., et al., Respondents.No. SC11–1908. Decided: June 20, 2013

https://caselaw.findlaw.com/fl-supreme-court/1635568.html