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Re: Getting rid of your timeshare (by R P.):

donp196 wrote:

Yesterday we received the second of two recorded quit claim deeds that we deeded back to our time share associations. I didn't want to post it until it was official and recorded. We were also skeptical that it was going to be this easy. We just contacted our home resorts and located the right person to speak to about deeding them back. They both agreed to take back our units with just a quit claim deed. We were required to be up to date on all of our fees and assessments. They only asked us to pay the years taxes and a minimal processing fee. We didn't expect any tax write off. We are happy to just unburden ourselves of the yearly maintenace fees and future assessments. Our lives have changed and we don't want to travel that much anymore and trying to get the exchange we wanted from RCI was nearly impossible since they started selling the good weeks on the open market. Our advice to anyone wanting to rid themselves of their obligations to a time share is to first call the office and ask them to take back the property. Don't play games with the IRS and don't expect anything other than getting rid of your financial obligation. Yes it was just that easy for us and we sleep better at night not worrying if the IRS will come after us down the road for taking a questionable deduction. If they hadn't taken back our units then we might have used the services of a company and worry that the transaction actually went through. Good Luck to anyone else trying to get rid of their timeshares.

This is what all resorts should do .... accept deedbacks then resale that deed, however there are so many weeks that are not marketable at all (ie: mid winter in mud slop hollow, etc) .... you're lucky that they didn't ask you to pay several future years' maintenance fees which I read recently on another forum an owner was asked to do.

Resorts have got to come up with a solution to this problem .... with all the scams out there (donation groups that supposedly take weeks for a hefty fee, then never pay future maintenance fees until the week goes into foreclosure (that's their business model ... to hell with the resort and other owners) and upfront fee resale companies and now recovery fund services for people that's been taken in by upfront fee scam companies).

These scams are detrimental and are not in the best interest of the resort and other paying owners.

Every resort should send out a letter warning owners of all these scams.