Legal Question in Consumer Law in Mexico
Timeshare Purchase:How can I rescind or terminate?
On Jan 29,2002 I purchased a timeshare at Sheraton Buganvillas in Puerto Vallarta,Mex for US$18,000 based on the salesman's suggestion that we could get rent of US$800/day during the World Championship of Golf in Dec 2002.I have paid US$3950 down on a credit card.The contract calls for a conventional penalty of 30%if the contract is rescinded during the first year.
30%=$5400. I want out of this deal. What do you suggest? If you cannot help, can you suggest an attorney in Puerto Vallarta?
Thank you
1 Answer from Attorneys
Re: Timeshare Purchase:How can I rescind or terminate?
You appear to be out of time in terms of a right to terminate the timeshare contract during the normal "cooling off" period. The salesman's puff at the time of contracting would not give you grounds to allow you to rescind the contract at Mexican law.
I can suggest that - apart from contacting a local lawyer in Puerto Vallarta in order to apply the local state law to see if you have an exit - you may want to bite the bullet and refuse to pay any more monies. This will cause the contract to be terminated by the resort; and then they will have to spend money in order to sue you for the 30% penalty of US$ 5,400.00. They may not consider it worthwhile as it may not be economically viable for them.
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