Is Getting Rid of Timeshares a Problem?

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Original Message:

Re: Is Getting Rid of Timeshares a Problem? (by Don P.):

I have addressed this issue over and over in the forum. I have another thread under the heading " getting rid of a timeshare ". I also recently started a thread titled " a hypothetical way to get rid of a timeshare ". I have been an advocate for years to get the industry to work with owners for an exit strategy.

There are steps to take if you want to get rid of a timeshare. First contact your home resort and see if they will take it back through a deed back. That is the best way if they agree. You have to be current in your maintenance fees and assessments. They may ask you to pay the next years fees to give them time to resell the unit and that is reasonable.

Next is try to find someone to take over ownership. As long as you transfer it to another person you are now free of your obligation. It is not your responsibility to find someone they approve as long as it's transferred out of your name. You give them the chance to take it back and they refuse then your conscience is clear. There are people out there that have nothing for them to go after and might find a timeshare is something they might want to have. You might even sweeten the pot by paying their first years maintenance fees for their trouble.

If the industry wants to play hardball then you might have to be creative in your approach. When a large corporation uses tactics and loopholes to their advantage the get accolades but when a private citizen uses them they condemn the practice.

Use your own judgment and make it your priority to get rid of your burden. I got rid of two timeshares through deed backs in 2011. I called my home resorts and told them in no other terms that I was going to get rid of my timeshares with or without their assistance and that it was in their best interest to work with me and they did. You have to do the work.

Don't fall for the scams that prey on owners wanting to get out of their timeshares. NEVER pay anyone money upfront to get out of your timeshare. Good luck.