Timeshare Relief

[myself]

For anyone considering a timeshare purchase, I think it is very important to really explore the area and see what the options are. The biggest timeshare market in the country is the Walt Disney World area in Orlando. That is also the area where buying a timeshare probably makes the least sense as there are thousands of inexpensive rental properties available. Why pay an upfront purchase price and an annual maintenance fee of a few hundred dollars when for less than $50/nite, you can rent a 2-bedroom condo.

In other parts of the country where the options are more limited, a timeshare might not be such a bad deal if you can get it cheap enough on the secondary market.

Very true!
The one thought about owning timeshares in other areas, is basic principles. As folks get older, they want to see other places in the country/world, thus the need for rentals in other parts of the country/world.

[LuckyRobin]

So how come no one has brought up the fact that just because someone leaves you something in their will does not mean you have to accept it? Any part of an inheritance can be refused without refusing the full inheritance and a good probate lawyer should have told you that at the time the assets were dispersed. No way would I accept a timeshare in an inheritance.

[drkenrich]

What are the options?

The key (after emotions are removed) is that timeshare owners need to know their options. Even the best ones generally only sell for about half of what was paid for them.

So here are the options in order of preference.
1. Advertise it for free or low cost on Craigslist.com or a TUG or similar site and sell it for anything you'll accept.
2. List it with sites and agencies that ONLY charge a fee at closing - best with someone in the area of the timeshare - and be willing to accept their honest value for it.
3. Donate it to a charity that will accept it. Most will only accept those they can sell for cash quickly. You get no cash, pay nothing and can deduct the amount of cash they receive but no more (IRS LAW is clear on this).
4. Find a service company that you can pay to take it off your hands. You will pay anywhere from $3.500 to $4,000+ and even then sometimes they won't accept some. They only accept those they can move through their system to a final holder.
4a. There is one charity that accepts almost all but doesn't resell them. Because of not getting any cash in the process, they do charge $500, but it's better than the $4,000+. In addition, you do get a donation credit to compensate for the cost.

Here's what you CAN'T do.
Give it to someone that doesn't want it.
This included quit claiming it back to the resort or to anyone else or even leaving it in your will to someone you don't like. In all instances, the person or company you are leaving it to can submit a very simple document to the courthouse saying they don't accept it and you have possession all over again. AND they have no time limit to that rejection. If it's a resort, they can smile for several years, reject it and come back after you for all the past unpaid owner's fees plus accumulated interest. Ask an attorney about this in your state. Each state is slightly different.

If you're interested in more detail like the actual IRS regulations concerning timeshares sales and donations or the legal rejection of quit claimed property or the charity that does accept almost all timeshares, but charges a fee, I do accept emails. Ask the moderator if the link is not provided here.

Dr. Ken Rich

[KevinCarr]

Timeshare Relief just lost a lawsuit!

Hopefully they can still finish my transfer.

[danielle299]

Timeshare Relief

These are the most common complaints about Timeshare Relief:

-They are only able to help if the timeshare is paid in full, and the timeshare maintenance fees and the special assessment fees are all current
-They ask for a $3,000 USD upfront fee, which is almost as expensive as buying a new timeshare
-They are accused of making several unsolicited telephone sales calls
-They are not able to help 100% of their clients, as they claim on their website
-Customer service is almost inexistent, and they do not honor the agreement they make with their clients
-They claim not to sell timeshare, but according to some scam testimonies, they are a illegitimate resale company.
Every year, thousands of people around the world become victims of one of the biggest travel frauds that have ever existed: The timeshare scams.

[rennigade]

Nothing like reviving a thread from 2006 by a spam artist.

[drkenrich]

Nothing like reviving a thread from 2006 by a spam artist.

Since it has been revived, I'd imaging there are others with the same question - How to get rid of their timeshare?

I posted back in 2007 (a couple of posts above this one). Here's a little more detail.

I work with a non-profit that still accepts timeshare titles as donations. We've been doing it since 2007 with no complaints from any of our clients. Only a few people who haven't used us complain and throw tantrums and insults about our process because they don't bother to research the facts.

Here's the truth. We never sell, rent or use the timeshare. Therefore it's worthless to us. A non-cash donation must be converted to cash for it to be worth taking into a charity. Since we don't get any value from ownership and DO face all the collection, nasty letters, phone calls, threats against our credit, and threatened lawsuits, we do expect compensation for ridding an owner of their timeshare and giving them their freedom. That cost is the donor paying for the whole process of escrow closing costs (usually about $400) from an independent attorney or closing company of their choice plus an additional $500 cash donation at the end of the process when the deed is finally out of their name.

Since we don't do any of the paperwork or accept any payment in advance and it's totally handled by a licensed closing escrow company, the donor's money is totally secure in case the deed isn't transferred legally out of their name. They get their money back in full from the escrow company.

For those interested there's more information if you Google search for {removed by moderator]