Original Message:
What to do with inherited timeshare points ??? (by Thomas H.):
My father recently passed away and left a whole bunch of timeshare points in his estate. Points are based on purchase of 11 timeshares from several years ago. Some of the points are joint-tenancy with my step-mom, while the others are left to his living trust, which is comprised of my brother, sister, and myself. All of the timeshare points are paid off free and clear. It is the maintenance fees that I am concerned about. I suspect that my step-mom may be obligated to take over the fees on those timeshare points that she owned jointly with my father. I am not sure whether my brother, sister, and I can legally walk away from the timeshare points left in the living trust as none of us ever signed any contractual agreements to buy or maintain them in the first place. My brother and I are not really in a good position to takeover owner ship of more timeshares, as we each own several of our own. My sister is not able to take over the points either. I am wondering whether we (trustees of the living trust) are legally obligated to maintain the fees on our deceased father's timeshares, and if we walk away from them, would there be any negative impact on any ***living*** persons credit rating?