Colorado’s timeshare cancellation laws provide important protections for buyers, ensuring they can cancel their contract within a specific period. Under Colorado Revised Statutes, Title 38, Article 33.3, Section 38-33.3-206, buyers have a five-day rescission period to cancel their timeshare agreement. This period starts on the date the buyer signs the contract or when the buyer receives a fully executed copy of the agreement, whichever occurs later. During this window, the buyer can submit a written cancellation notice to the seller without penalty. Additionally, the seller must provide the buyer with a clear notice of the right to cancel, detailing the necessary steps to initiate the cancellation. If the buyer cancels within the rescission period, the seller must refund all payments made, minus any applicable fees. After the five-day period, canceling the timeshare becomes more difficult unless the buyer can prove fraud or misrepresentation. Therefore, timeshare buyers in Colorado should act quickly to take advantage of their rights under Colorado’s timeshare cancellation laws.
For more information, refer to Colorado Revised Statutes, Title 38, Article 33.3, Section 38-33.3-206.