Get Out of Geoholiday Timeshare
GeoHoliday Vacation Club is a collection of timeshare vacation clubs. The headquarters of the corporation are in Las Vegas, Nevada. Members may travel across the globe using a credit-based reservation system provided by the organization.
GeoHoliday is a privately held firm based in Toronto, Canada, with decades of vacation ownership expertise. GeoHoliday Vacation Club timeshares are held by over 25,000 members worldwide and provide luxury lodgings in more than 70 home resorts in 20 different countries.
Review on Geoholiday Timeshare
Suppose you seek a way to get rid of Geoholiday Timeshare. In that case, you are certainly amongst the many timeshare members of the resort looking for a way to cancel their Geoholiday Timeshare. According to Complaints Board and Yelp, below are some feedback from customers.
“I purchased Timeshare in 2006. I have never used it. I have it fully paid for, and all my maintenance fees have been paid up until now. I could afford to pay them before because I was employed even though my wife has had no income since 2009. I also have never taken a holiday using it in that time. I wish to be rid of this. I even tried to get rid of it by paying Cyria Group over $9,000. They were members of the CRTA or CRDA and defrauded me of my money. Do you have a deed back or Surrender and Release Program that I can avail myself of? I am retired, and with my current income (under $2000 CDN/Month), I cannot continue to pay these fees. I was told last year by Equiant Group that if my payments were current, that there was a plan for surrender and release. As soon as I paid to be current, I was told that there was no such program. They are trying this method again, so I phoned Geoholiday member service direct and was told they do not have such a plan. The only way out is after 45 years or sell it (even then, it has to be approved by Geo), and if they (the buyers) don’t pay the dues, it falls to me. I tried selling it and found no buyers. I will not be duped by this again. Nor will I make any maintenance payments.”
“The most ridiculous timeshare out there. Not much to choose from, heavy fines for canceling, even if you do so as much as a whole 90 days prior to arrival, and you even lose the points you used when you cancel!!!
I spent 10,000 dollars plus financing interest, paid all my maintenance fees which went up almost every three years (now is $550.00), for absolutely nothing. I just keep it so it won’t affect my credit. I wish there was a way to get rid of it. Unfortunately, the system won’t allow me not to put any stars, so I have to put the one star, but even that is way too much.”
What Are Timeshare Resale and Timeshare Exit?
Are you attempting to discover what you have? The two alternatives that are open to practically all timeshare owners are timeshare exit and timeshare resale. It’s critical to recognize that the two businesses provide distinct services. Timeshare exit companies exist only to assist you in getting out of your timeshare agreement. Timeshare exit companies will give you legal representation and evidence of your request.
On the other hand, timeshare resale firms market your timeshare for sale or rent. Keep the following in mind:
- Companies who resell timeshares will charge you a fee.
- Timeshares generally sell for a fraction of their original cost.
- In reality, some timeshares never “sell.” Your “profit” will be the luxury of not dealing with the timeshare and delegating yearly payments and other chores to someone else.
- You can anticipate paying out of pocket when engaging a timeshare resale firm, just as you would with a timeshare exit company.
The Lawsuit Against Geoholiday Timeshare
- Timeshare Attorney Mitchell Sussman vs. GeoHoliday Vacation Club
Deedback Programs for Geoholiday Timeshare Owners
Aside from real estate taxes, many timeshare owners regret their purchase choice after receiving onerous maintenance and membership costs. The fact is that these costs are non-negotiable, and they are usually the first reason why owners decide to terminate their timeshare. Individuals may lawfully exit their ownership during rescission, which lasts a few days after the purchase date. Fortunately, alternatives exist to exit Geoholiday Timeshare property, such as a deed back timeshare. Here is how to deed back a timeshare.
What should you know about returning a timeshare to the company?
- Examine the Contract for a Deed Back Clause.
Check your timeshare contract carefully before settling on a timeshare deed back. Most contracts have a deed back provision that allows timeshare owners to return full ownership rights to the resort. On the other hand, individuals who own property must satisfy certain requirements.
Many resort firms will not retrieve a property until all fees and payments have been completed in full, and there is no lien on the property. Another crucial point is that you will not get any returns since you returned your property to the developer. In any case, you are no longer required to pay further timeshare costs.
- Make Use of a Deed Back Program.
Whether you can’t discover a deed return provision in your timeshare agreement, you could ask a resort if they have a so-called deed back program. Under this scheme, you may return the property to a timeshare firm, provided you pay all maintenance and extra assessment costs.
Remember that if your timeshare provider has many unsold timeshares, they are unlikely to accept your property, but it never hurts to ask. Furthermore, some resorts have a deedback program in which a small amount of a timeshare’s original purchase is returned according to the current market worth of the timeshare. It is still preferable to return the goods and receive no reimbursement.
- Gather the Necessary Deed Back Documentation.
If your timeshare firm accepts your property, the next step is to gather the necessary papers. To begin deeding back your timeshare, you must first fill out a resort’s timeshare transfer form. A quitclaim deed is required to surrender your ownership rights legally.
Furthermore, timeshare owners will likely need to present a copy of the deed proving they acquired a timeshare. When dealing with a buyback program rather than a deed-back program, most timeshare firms need a renunciation of the right of first refusal. At the same time, some timeshare companies may need proof that you have paid off any mortgages on your home.
Geoholiday Timeshare Rescission Laws
This is the most common customer complaint and query on Geoholiday Timeshare reviews. Many customers would want to terminate their Geoholiday membership due to bad customer service, unattractive terms, and restrictions. However, no cancellation policy or method for Geoholiday Timeshare is published on their website.
Different state regulations specify a recession period during which the timeshare owner may cancel a contract. The particular rescission period varies per state. It lasts from 3 and 14 days. Unfortunately, most clients contact the Geoholiday Timeshare contact information to cancel after the recession has ended. As a result, they are advised that they cannot discontinue periodic Geoholiday Timeshare payments.
While some choose to deactivate the credit or debit card associated with their Geoholiday Timeshare account, others seek a way out of the contract. Some members have contacted their attorneys and the state attorney general’s office for aid with Geoholiday Timeshare cancellation. It would help if you also watched out for timeshare exit scams. Some reviewers said that they had contacted firms that offer the ability to cancel a timeshare. These firms claim to be able to help the members, but the procedure is rather pricey.
Making Your Payment With Escrow
Timeshare exit companies often provide two payment alternatives based on your service satisfaction. Some timeshare exit companies will refund your money if they cannot get you out of your timeshare contract. Other exit firms retain the funds you pay for their services in the hands of a third-party holding corporation. This third-party is known as an “escrow” firm.
Suppose you are unable to break the timeshare contract. In that case, you may contact the escrow corporation to get your money refunded to you. It is advisable to always work with Timeshare exit companies accepting payment via escrow to avoid scamming.
Why You Should Cancel Geoholiday Timeshare
Here are some vital reasons you should reconsider running a timeshare and opt out now:
- Increasing Maintenance Charges
The rising annual maintenance fees are the most common reason people want to sell their timeshare. The information about the maintenance fees is not prominently displayed during the transaction, but after a year or two, the company will begin raising the prices each year. This will eventually force you to maintain and pay the increases to keep the contract
- Property Maintenance Has Decreased
Many timeshare properties built decades ago have begun to deteriorate due to a lack of maintenance. From lowering duties to the age of the resort, there are several explanations for this deterioration. However, if your facilities are not up to standard, you must pay the rising maintenance fees. The property’s quality will continue to deteriorate, but you will be liable for the inadequate services through rising maintenance fees.
- Absence of Use
You often won’t be able to use your timeshare on the dates you want. You should probably get rid of Geoholiday Timeshare if you don’t use it. This will save you expenses, allow you to discover new areas, and be independent in terms of when and where you choose to go. This alone should prompt you to reconsider your timeshare purchase since no one wants to pay hefty fees for something they are not utilizing.
- Can you legally exit your timeshare?
According to experts, the first step in developing an exit plan is getting a reliable timeshare exit company to contact the developer. Developers may permit owners to surrender the deed via a deed-back or surrender scheme. In this case, owners do not earn any income from their timeshare departure.
- What happens if you walk away from a timeshare?
Some individuals cease making payments on their timeshares. If you do decide to walk away, don’t be shocked if your credit score suffers and you begin receiving queries from collection agencies regularly. You may regret your purchase; ensure you contact a reliable timeshare exit company to get out of the timeshare without legal penalties.
- Why is it so hard to get out of a timeshare?
Ignorance about the few alternative options available. Another reason it’s tough to cancel your timeshare is that there are few alternatives. You can consider selling your timeshare if the responsibility becomes unbearable.
However, there aren’t many purchasers on the market; it is, therefore, best to exit the timeshare system.
If you want to cancel Geoholiday Timeshare, you can look through our list of trusted timeshare exit companies, call this number at 619-354-2362, or use the online form or live chat on the right side of the page.
Link to Lawsuit