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ask-redweek-get-rid-of-my-timeshare (by Penny C.):

I am a timeshare owner with a deeded week. This timeshare was given to me by a parent free and clear. I have used this timeshare 1 time out of the 12 years I have owned it. I have asked the company, Americano Beach Resort, if I can relinquish the timeshare and give it back to them and they said they don’t take them back. They were hit by an hurricane last year and have yet to reopen. I received a bill for a “special assessment” because insurance is not paying enough toward repairs. Two years ago they rewrote their bylaws and change their rules, which no owners have control over. This is forever a money pit which seems no easy affordable way out without ruining my credit which I have worked so hard for. It is such a shame that a company has such a forever financial hold on you. I can’t afford to hire an attorney and if I did know there are no guarantees. I do not want to leave this financial burden for my children as their rules/bylaws say whoever inherits your estate I here it’s the timeshare and debt. The company sent a survey to owners asking who would be willing to pay for the assessment fees and who would rather do away with the timeshare and 65% said they wanted to do away with the timeshare. I’m not sure what kind of recourse the owners have against this company and would appreciate any help or advice. Please respond.