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As with any piece of real estate, even one as inconsequential as a timeshare, it can be sold, rented, inherited, etc. The fact that it there is an indebtedness or a lien attached to the property, makes it worth less than if there were not. The mortgage must be paid above all, if it is not the mortgage co can foreclose. If annual fees are not paid, the property owners association can proceed with foreclosure. Details depend on your contract and the state law where the property is located or as designated as controlling in the contract. The time share owner has the right to the excess proceeds if the property sales for more than the amount owed, plus costs, but that is highly unusual when you add in attorney's fees etc. Your best bet is to get current and sell it on a reputable timeshare owner site (not the scam artists on the phone-NEVER give money up front!!!!!) or advise the timeshare that you will be providing them a deed in lieu of foreclosure. (If you do this by phone, always follow up with an email that you file away and keep. Legal matters should always have a written trail). Ask them to have their attorney send you a deed and tell them that you (and your wife if applicable)will sign the deed in the presence of a notary public with a raised seal and overnight it back to them. THEY MUST THEN RECORD THAT DEED WITH THE COUNTY AND SEND YOU A COPY OF THE RECORDED (Stamped) DEED. Let them know you know this. After all this, you no longer have an interest in the timeshare.