Full question:
I own a Marriott timeshare in Colorado and can no longer afford to pay the annual maintenance fees. The timeshare hasn't been used in probably 10 years, during most of which time my husband was disabled by a stroke. I'm a 70 year old widow and when my husband died almost 2 years ago, so did my income. I've been unable to sell or even give this timeshare away. Can I legally just give it back to Marriott and get out from under this impossible debt?
- Category: Contracts
- Subcategory: Recission
- Date:
- State: Missouri
Answer:
The possibility of returning your timeshare to Marriott depends on the terms of your contract. If the contract does not allow for cancellation, you may still have options to rescind it under certain circumstances, such as fraud, incapacity, duress, undue influence, material breach, or mistake.
Contracts are legally enforceable agreements that establish rights and duties between parties. Breach of contract occurs when one party fails to fulfill their obligations, potentially leading to economic damages for the other party. Remedies for breach of contract include money damages, restitution, rescission, reformation, and specific performance.
Rescission cancels the contract and restores both parties to their original positions. It can be pursued for reasons like fraud or incapacity. Restitution aims to return any money or property exchanged under the contract. Specific performance compels a party to fulfill their contractual duties when monetary damages are insufficient.
If you are considering legal action, it may be helpful to consult a legal professional who can provide guidance based on your specific situation. Users can search for state-specific legal templates at .
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.