Getting rid of your timeshare

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Original Message:

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

nancye31 wrote:
Who even cares about the tax deduction? All I care about is getting it out of my name. I don't care what the new place does with it nor do I care if they do or do not pay the maintenance fees. I would love to get rid of mine for $500 and I'd just as soon pay this place as some individual who I don't know either. JMO
Best I can tell, there are way too many of us that are in this position - especially in these economic times - and that is why drk14's option sounds reasonable. There are many companies out there that want an upfront fee, paid directly to them, before they then TRY to get rid of your timeshare for you. At least drk14's company has that upfront fee put into escrow and they don't get it unless the change of deed ownership actually goes through.

While many may feel that it is unethical or immoral to buy a timeshare with the sole intent of never ever paying the dues and letting it go into foreclosure, you have to remember that 'unethical' and 'immoral' are really just judgement calls because the definition of such is different for everyone. In the US at least, LEGALITY is all that matters to most timeshare companies - they don't care at all about morals or ethics. The timeshare companies use the law ruthlessly in their favor and too often the only way to fight that is to use every legal loophole you can find so that you are also in the legal right. Unfortunately, if a resort will not buy it back, the owner's options really are pretty limited.

As drk14 said in a previous post - if a person is willing to pay a specific amount of money to get rid of their timeshare and if the transfer of deed does go through, then the person got what they wanted and it is not a scam. It is only a scam if the person pays money for something they never get.

If you are worried about the legality of the donation amount, then don't claim it. The only question that matters is: Is it worth $500 (or whatever amount some company wants to charge you) to you to get rid of your timeshare?