Need advice Parents want to "Give" me a timeshare....

Miss Marty said:

Why transfer it to out of your parents name?
Save the cost of a new deed & transfee fee.

Have your parents add you & your wife names to their Wyndham
contract/deed to guarantee you don`t lose any developer benefits.

You can arrange it with your parents
to pay them or Wyndham each month.

This way you wouldn`t need a gift certificate when your family goes to Fairfield Sapphire Valley or when you exchange your points.

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Wyndham does nothing free. I think in order to get you name added you'll need to be added to their deed and pay a transfer free to add the revised deed to their membership so your name shows up as an owner.

Went through this recently myself as I was added on to my parents Wyndham deed. Although I've never bought or sold a TS myself, it appeared to follow the same process as a resale transaction from what I could tell. We engaged a 3rd party company to prepare & file the deed and paid Wyndham the $299 transfer fee.

Even though my parents likely won't use it any more, we chose to add my name as opposed to transferring in order to have more owner's names on the account. That may not be a consideration for the OP, however.

My parents had a timeshare, when Dad passed away, she wanted to share it with us, we ( siblings and I ) took turns for a few years traveled with Mum to resorts. Now that Mum has become too frail, older brother took ownership of the week. Mum enjoyed timeshares but it is still in the family, Her granddaughter just used the week for honeymoon trip to Spain.
Silentg

If you decide you don't want it?

I listen to the Dave Ramsey show and I agree with his principles (although I do own a timeshare despite the fact Dave hates them). However, he endorses a company called Timeshare Exit Team. Honestly, I know very little about the company but I do trust Dave Ramsey so it might be worth looking into.

djohn75087 said:

I listen to the Dave Ramsey show and I agree with his principles (although I do own a timeshare despite the fact Dave hates them). However, he endorses a company called Timeshare Exit Team. Honestly, I know very little about the company but I do trust Dave Ramsey so it might be worth looking into.

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I listen to Dave Ramsey almost daily and you are correct, he does hate timeshares. I emailed him a year ago about what I'm doing with the Wyndham resell timeshares I'm buying for pennies with a link to my website. About a week later he wrote back that I turned lemons into lemonade. I took that as a complement...

morrisjim said:

I listen to Dave Ramsey almost daily and you are correct, he does hate timeshares. I emailed him a year ago about what I'm doing with the Wyndham resell timeshares I'm buying for pennies with a link to my website. About a week later he wrote back that I turned lemons into lemonade. I took that as a complement...

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That's really good to hear, anytime I listen to Dave I have an internal argument over if I should get rid of them or not, but I feel like I'm getting a good deal and I have no other debt other than my mortgage. I'm always thinking about an exit strategy so I may look this company up when the time comes.

djohn75087 said:

I listen to the Dave Ramsey show and I agree with his principles (although I do own a timeshare despite the fact Dave hates them). However, he endorses a company called Timeshare Exit Team. Honestly, I know very little about the company but I do trust Dave Ramsey so it might be worth looking into.

Click to expand...

This is the rule of thumb with timeshares offers: Never pay an upfront fee.

Never...never...never

Also, many companies may refuse to transfer the deed if they smell a Viking ship or shuttle corporation.

djohn75087 said:

I listen to the Dave Ramsey show and I agree with his principles (although I do own a timeshare despite the fact Dave hates them). However, he endorses a company called Timeshare Exit Team. Honestly, I know very little about the company but I do trust Dave Ramsey so it might be worth looking into.

Click to expand...

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