If you own a Mexican timeshare, you may be asking how to legally get rid of it. This article will explain how foreclosures occur, if a timeshare may be legally cancelled, and whether you can sell it to a non-Mexican citizen. You'll also learn about the PROFECO procedure and how a Mexican timeshare differs from one in the United States. There are both legal and unlawful methods to get rid of a Mexican timeshare. If you are thinking about purchasing a Mexican timeshare, you should be aware that it is a significant financial commitment. Furthermore, it provides an open door for frauds. In addition to the documentation, you will be charged yearly and monthly fees. This may make leaving the timeshare difficult. The first step is to thoroughly read your contract. You may be able to terminate the contract in certain situations if you do so within the Rescission Period, which is normally five business days. In these cases, you should attempt to negotiate a refund with the developer. If you are unable to get a refund, you may lodge a complaint with the Procuradura Federal de Consumidor. Foreclosures are effective for a Mexican timeshare. If you want to sell your Mexican timeshare, you should first learn about the laws that regulate timeshares in your area. In general, you cannot sell your timeshare in Mexico to a foreigner, but you may attempt to sell it via a resale firm. You should thoroughly study your contract before selling your timeshare. You've undoubtedly heard that if you fall behind on payments, a mortgage firm may foreclose on your timeshare's property interest. If you want to retain your timeshare, this is not a smart option since you would lose access to it. It will also have a negative impact on your credit rating. Can a timeshare be lawfully terminated in Mexico? There are several precise requirements that must be met before a timeshare contract may be lawfully terminated in Mexico. For example, the customer must have received a written notice from the resort stating their decision to cancel. To be legitimate, the cancellation must be done within particular time frames. Timeshare developers may refuse to issue a cancellation request in particular instances. They may even mislead the customer in order to persuade them to sign the contract. However, Mexican law protects customers by allowing them to terminate their timeshare contract. A timeshare cancellation in Mexico may also result in the cancellation of special assessment costs, maintenance fees, and other timeshare obligations. Know on getting rid of a mexican timeshare. Can a timeshare be sold to someone who is not a Mexican citizen? Before you may sell a Mexican timeshare to a non-Mexican, a few processes must be done. To begin, you should be aware of timeshare scam. This sort of fraud is common in Mexico and may be quite harmful. Scammers sometimes demand money up advance in return for the timeshare. They'll then flee with the money. Second, contact PROFECO, Mexico's version of the Better Business Bureau. While the laws and procedures are extensive, the agency will be able to examine timeshare complaints.