Timeshare Questions

[HobieMarty]

So, I just discovered today that my Dad had a timeshare in Ormond Beach. I know nothing about timeshare condos. How does one go about selling a timeshare? Are there usually annual fees with a timeshare, or when you purchase weeks, is it just a pay up front and and the weeks are yours type of thing? I know there are probably many answers to these questions as it is probably a case of a "one size doesn't fit all" type of thing. Anyway, just thought I'd ask y'all. Thanks.

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[HobieMarty]

Well, to clarify, my Dad passed away back in February, I do remember him mentioning something about a time share several years ago but I forgot all about it and it never came up in our conversations. This kinda goes hand in hand with the thread about having your stuff in order.


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[masraum]

In my experience, there are annual fees. It is possible to sell timeshares, and there are even places that specialize in them. They usually sell for a fraction of the original cost.

[masraum]

https://www.google.com/search?client=firefox-b-1-d&q=sell+a+timeshare

[asphaltgambler]

Worst idea for the buyer as an 'investment'. They were hot years back, but you'll have to almost give it away to release your obligation from the HOA / maintenance fees burden. Good luck.

[nota]

most are run away quickly

sell ? many are hard to give away

guys wife said
you mean you sell the same apt to people over and over again ?

[Steve Carlton]

Does your father’s death release any obligations?

[pwd72s]

I've heard radio ads from a company advertising that they can get you out of a timeshare. That alone should give enough warning.

Has your dad's estate been settled? Hopefully they can be told to pound sand.

Sounds like you may need to see an attorney though.

[HobieMarty]

Originally Posted by Steve Carlton

Does your father’s death release any obligations?

No idea. The attorney handling the probate has been notified.

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[HobieMarty]

Originally Posted by pwd72s

I've heard radio ads from a company advertising that they can get you out of a timeshare. That alone should give enough warning.

Has your dad's estate been settled? Hopefully they can be told to pound sand.

Sounds like you may need to see an attorney though.

Estate is currently in probate. We have an attorney taking care of things and he has been notified of the timeshare. Dad's ex wife contacted my sister about the timeshare so, she can have it if she wants it. I don't want anything to do with a timeshare condo.

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[rattlsnak]

My parents bought one decades ago and it took them 2 years and a lawyer to get rid of it..

[john70t]

Now I don't feel bad about getting a couple free Vegas trips out of them.

[matthewb0051]

Originally Posted by Steve Carlton

Does your father’s death release any obligations?

I don't think death cancels the contract. Could be wrong but from what I've heard these things really should be illegal. I believe it lies with the estate to sell or pray that the probate judge lets you out of it. But even that seems odd, if you cant' sell then your estate has to pay annual fees in perpetuity? No way that would work, an estate will eventually be wound up and closed, then what?

That said, my aunt and uncle are always using theirs but it is a multi location deal. My mother tells me about where they are going and but for Hawaii it isn't that great for locations. But they use the hell out of it.

[matthewb0051]

Originally Posted by john70t

Now I don't feel bad about getting a couple free Vegas trips out of them.

Free except for that hour you sat in the presentation.

I have a cousin that is loaded. They came to visit us in Hawaii when we lived there. They stayed at Hilton Hawaiian Village time share part. He doesn't have any problem sitting in the presentation then walking away with a big NO. Gets the place for a substantially reduced amount for the cost of an hour briefing.

We went to one in Park City Utah one year. When the woman told us we weren't guaranteed to ever come back during snow season I laughed.

[hcoles]

donate it and take a tax write-off

[nota]

is one required to accept an inheritance of a white elephant like a time share ?

[hcoles]

I don't see why the estate can't just sign over the ownership. I'm sure a lawyer can make a big deal about it. I would say Google the issue - this can't be the first time this has happened. Also there may be something in the contract to cover the situation.

[hcoles]

After some googling it looks like there are lots of companies that will buy the TS. Don't expect to make much money. There is a lot on the internet on the subject. Particular rules are likely different in different states.

[gregpark]

Time shares were a very successful scam. They insist your wife attends the presentation too so they can make you look like a fool in front of her for not biting. I've gotten free golf, dinners, lodging, air fare tix, etc. by signing up for the 90 minute presentation. I've never had to sit through the whole 90 minute waste of time. The sales guy "welcome to the family!" Me "I don't want to waste your time, I'm here for the free golf." "But this is a great opportunity! Only $600 for the whole year!". Me: Yeah, but I only have it for 6 nights of the year so it's really a hundred bucks a night locked into an off season week with no maid to make the bed and clean the bathroom. To change the date or location I have to pay an extra $150. a pop? And you want me to pay you 20K right now for this special deal? when in reality I own nothing? The $600. a year "maintenence fee" goes to the hotel for a room that would normally be empty at that time of year and you guys get the 20k out of which you get a pretty nice commission from your boss for signing me. After people pay the 20K they feel they have to use it or it was a waste of 20k. It usually takes a few years before most people realize what they've locked themselves into. Now, do you really think you're going to sell me? "I guess not, here's your voucher"

My wife won't let me sign up for anymore time share presentations. It's too embarrassing for her. I tell her it's entertainment for me and we rarely get past the free continental breakfast! "No more" Oh well, I had my fun

[matthewb0051]

Found this video from Wesley Financial Group which is a timeshare cancellation firm. Sorry but no embed option.

https://youtu.be/fD_CBvFofnk