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Re: Getting rid of your timeshare (by Lance C.):

davec251 wrote:

Im assuming that if the property has "first right of refusal" in the contract then they would see the whole idea about trying to transfer my name to a non-profit corporation and somehow not allow it to happen.

That's not quite how ROFR works. If ROFR is in your contract, the resort does not care to whom you sell it. The resort cares about the resale price. This is to try to keep units from drastically devaluing.

So let's say you have found a buyer for your unit and the agreed upon price is $500. The resort might not like to see units being sold at that price. The resort can then exercise its ROFR and buy it from you for a certain price that prevents the drastic devaluation.

Either way, you'll get rid of your timeshare either by selling to that other person or the resort buying it from you.

However, because of the poor state of the timeshare industry, it's quite a rarity now that you see resorts exercising ROFR.

The one thing that you might have to worry about is if you knowingly sell or transfer ownership of your property to a company that then deliberately defaults on the maintenance fees so as to let it go into foreclosure. Some resorts now are going after these companies and the original owners.

As for going "the charity route", it's generally not recommended seeing that charities usually charge at least $2500 to take ownership off your hands.

You can do that yourself by listing your property here in the Bargain Basement for $1 and perhaps offer to pay the closing costs and, if you're desperate enough, also pay the next year's maintenance fees.