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Re: can you Help me out from my timeshare? (by Steve M.):

One thing you should try first, before trying to sell your time share for nothing and paying the closing cost.

You say you are nearly disabled - try contacting the time share company and tell them you are disabled and will not be able to use the time share in the future, or keep up the payments. Often, but not always, you will find they will take the time share back, at no cost to you. The down side is you will lose all you have paid in to the time share. The up side is you are free of the ongoing maintenance fees.

If they refuse to take the time share back, then you may have to try selling it at a cost of $1.00. Don't list it for free, as in some states, the deed will not be binding unless at least one dollar has changed hands. YOU should arrange for a closing company, to handle the transfer and make sure that you are free of the obligation, and not just the deed. Shop around, and check for feedback on RW before you actually contract the company. They should have a contract you can use for the actual sale, which can be used to spell out that your transferring ownership to the new owner. In this economy, don't expect to recoup any of your investment - sorry - it just won't happen in 99.9% of all cases.

Also, don't try to write off the loss on your taxes. This is not like a real property investment, where if you sell at a loss you can write off the loss on your taxes. Writing off the loss on a time share is a 'go to the front of the line' ticket for an IRS audit.

Good Luck.