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Re: death and timeshares

[Q=nicoleg284] Is there any protection for heirs and the estate if the TS is placed in a trust. My DH says someone told him that there is protection and that the TS company will either take it back or donate it. I'm skeptical. But that's what I do ;) [/Q] >> If the resort won't take a deed back (and they don't have to) then it's the ESTATE that has to find a new owner. It can be one of the family or a third party but the estate cannot be closed until it has a new home with someone. Plus any fees due have to be paid by the estate until that new owner is found. It cannot simply be ignored. An individual can disclaim an inheritance but the estate has to deal with all assets and liabilities - even those of questionable value - before being finalized. __________________ John Chase << ========================================================================== John Chase is now deceased; he passed away several years ago, but his knowledgeable input quoted above is still absolutely correct. NO resort is EVER required to accept a "deedback", but may sometimes choose to do so. HOA position on "deedback", whatever it may be, will NOT be influenced in any way by a "trust" being the owner of record. There is no particular "magic" or "protection" to having a timeshare in the name of a trust, other than potentially avoiding the public exposure of probate upon death. There is still an underlying "trustee" with a name and social security number. That being said however, no one is ever obligated to inherit a timeshare; the inheritance can quite simply be disclaimed. John Chase had it precisely right in his description above. Rest in peace, John. nicoleg284: NO legitimate entity will EVER accept a timeshare as a "donation". It's a financial liability with ongoing legal obligations --- that's no "gift", not by any measure.