Virginia’s timeshare cancellation laws provide essential protections for consumers, allowing them to cancel a timeshare contract within a defined period. Under Virginia Code, Title 55.1, Chapter 22, Section 55.1-2215, buyers have a seven-day rescission period to cancel their timeshare contract. This period begins on the date the contract is signed or when the buyer receives a copy of the fully executed contract, whichever occurs later. During this seven-day window, the buyer can submit a written cancellation notice to the seller without penalty. Furthermore, the seller must provide the buyer with a notice of the right to cancel, detailing how to properly exercise this right. If the buyer cancels within the rescission period, the seller must refund all payments made, minus any applicable fees. However, after the seven-day period, the buyer can no longer cancel unless they can prove fraud or misrepresentation. Therefore, timeshare buyers in Virginia should act swiftly to utilize their rights under Virginia’s timeshare cancellation laws.

For more information, refer to Virginia Code, Title 55.1, Chapter 22, Section 55.1-2215.