When can a purchaser cancel a timeshare transaction?

A purchaser can cancel a timeshare transaction until midnight of the fifth calendar day after signing, which is a fundamental consumer protection measure. This right to cancel, often referred to as a "rescission period," allows buyers a set time frame to reconsider their decision after the initial excitement of the purchase has passed.

This option aligns with regulations in many jurisdictions aimed at protecting consumers from high-pressure sales tactics often used in timeshare transactions. The five-day period ensures that buyers can review their decision, seek advice, and ensure they understand the commitment they are making.

The other choices do not reflect standard practices regarding cancellation periods in timeshare sales. For instance, the option suggesting a one-week period is not sufficient in many regions, while indicating that cancellation is only possible with developer permission undermines consumer rights. Moreover, allowing cancellation at any time within the first month is broader than typical regulations allow and could mislead purchasers about their true options for exit from a timeshare agreement.