To get or not to get?

[ljwilks]

My husband and I are currently contemplating whether or not to purchase (or take over) a timeshare that my grandmother currently owns. She owns two through the Fantasea Resort-Flagship in Atlantic City, NJ with Interval International as the exchange network, however, we would only be taking one of them. Timeshares are a foreign thing to me and learning the lingo is a bit confusing. My grandmother is 85 years old and having a lot of memory issues, so I've been doing all of the research and information gathering myself.

My family used the timeshare more than my grandparents ever did growing up and we used it to go a number of places. Most recently, my husband and I used it to go to Orlando, FL in 2016 and had no issues with the company and the resort and room we got were great.

If we go through with getting this, it will never be used in Atlantic City, so we will also be exchanging it for another location - most likely Orlando for now as we have small children and have fun going to Disney. As the kids get older we will likely use it other places as well.

Does anyone have first hand experience with either of these companies, good or bad? What are your recommendations?

 

[silentg]

Is your Grandmother still able to go with you? My mother had a timeshare. After my Dad passed away, she wanted to travel, so we took her places using her timeshare. Looking back, we had fun times with her at timeshare resorts. She passed away in 2016. My brother took over her timeshare and his adult children use it more than he does. It’s still in the family, which my mother would be pleased to know.
Her timeshare is in NH in March, not a particularly good time. But it trades well. No one has gone to her home resort for many years. We traded to Vero, Palm Coast, Cape Cod.My brother’s family went to Spain and Switzerland. We have our own timeshares, have used II, RCI, and other timeshare exchange companies. You should be able to exchange for Orlando/Disney area.
Try using it a few times before you take it over. See how it trades.
Welcome to TUG!
Silentg

 

[ljwilks]

She is not really well enough to travel, or at least travel far. She can get around, but tires very quickly. Although she still lives at home, she shouldn't. Before my husband and I used it in 2016, the last time it had been used was in 2001 or 2002 when my family used it to go to Virginia. Prior to that it was basically only used by my parents when we went on vacation. I cannot remember a time where it was used by my grandparents - I'm 31. I know they did use it, but I would have been too small to remember or it was before my time. I really don't know why they purchased them, but I know they have two because they have two children and one is/was being passed to each of their children.

 

[Passepartout]

Well, if you want to learn about timeshares, TUG is the best place to do it. Timeshares today have little to no value, and the maintenance fees keep going up. There is no requirement that any heir accept a timeshare- or any other bequest. This is not the time for that discussion- only that it can go as you want at the time. As long as Grandma (or family) can afford the annual fees, there is no really good reason to transfer the ownership prematurely.

Jim

 

[taterhed]

My strong recommendation is NO!
(please forgive my allusions to the 'bottom line' but I must mention this due to her age.....)

1. You have no idea if this timeshare is right for you--or if timeshares are right in general!
2. This unit has no value (likely) and is available for free. YMMV--depending on some factors it may have some small value
3. If you assume the unit (or buy--it likely has zero value) you are liable for the unit for life unless its an RTU until you can convince or pay someone to take it.
4. You or the heirs have NO responsibility to assume or pay for the timeshare at the bottom line. Timeshares do not automatically transfer to heirs and can not be 'forced' onto the family.

I have no personal experience with this company or resort.

But, I have lots of experience with paying MF's every month and how difficult it can be to convince someone else to start paying those maintenance fees......
good luck

 

[taterhed]

Here is an example: Atlantic Palace, Atlantic City NJ Free + incentive

PAID to give it away

Highly suggest these don't get 'passed' to anyone unless they have a very strong significant value etc.....

This isn't an asset, it's a liability.

 

[vacationtime1]

There is nothing preventing you from using the timeshare while Grandma continues to own it. You pay all of the MF's, exchange costs, and guest certificate fees (which you will need because the timeshare is still in Grandma's name) -- and you trade and use her timeshare. It will become easy for you to decide if you want to accept legal responsibility for it when she passes.

 

[silentg]

Exactly right. We tried to bring Mum with us. My brothers would use her timeshare and go without her. This was fine with her. After she passed away, my brother took the timeshare and has been happy with it since.
Silentg

 

[bogey21]

There is nothing preventing you from using the timeshare while Grandma continues to own it. You pay all of the MF's, exchange costs, and guest certificate fees (which you will need because the timeshare is still in Grandma's name) -- and you trade and use her timeshare. It will become easy for you to decide if you want to accept legal responsibility for it when she passes.

This is exactly what I was going to suggest. You get the best of both worlds; i.e. current use and the ability to disclaim the inheritance.

George

 

[bbodb1]

This does suggest a question that I have wondered in the past. Allow to preface this by stating i am not trying to be morbid here at all (in fact, I wish your Grandmother many more happy and healthy years!).

Here is the question:
When a person who owns a TS passes, what is to stop the children, grand children and/or other relatives from continuing to pay the yearly maintenance fee - and thereby delay any transition of title for a few years (or even longer)?

 

[Panina]

I personally would not take it. I would use it without taking ownership as others here have suggested.

If you find timesharing is for you, there are much better traders that you can get for free or a few hundred dollars that you will more easily be able to gift when you no longer want it.

 

[ljwilks]

The issue with using her timeshare as is is that my aunt is listed on the account and you apparently can only have one other person listed besides the owner. There is a bit of a rift between my aunt and I that happened 7-8 years ago. When my husband and I used the timeshare in 2016 my aunt actually tried to cancel the reservation we had. Unfortunately, my grandmother is not willing to remove her as she feels it would cause a rift between the two of them (even though my aunt has a timeshare through RCI of her own and she has never used the one that my grandmother owns). Leaving my aunt on the account allows her to make changes to reservations without anyone's knowledge, which does not sit well with me. Additionally, my grandmother is getting up there in age and isn't in the best health. Obviously I don't want to plan for my grandmother passing away, but it will happen eventually and if we were planning to use the timeshare and she did pass away then we are left in a bit of a limbo with a hotel reservation.

 

[bbodb1]

Others here will have more knowledge of this than I do, but if your aunt is on the account, that brings some other issues into play.
If you cannot get your aunt off the account, I can't see any good reason to take over this account.

 

[ljwilks]

I could get her off if I became the owner, but if my grandmother is not willing to remove her while she remains the owner, it is too risky for me to use in its current state. I don't want to plan for a vacation and arrive to find out that the reservation has been cancelled and I have no place to stay.

 

[taterhed]

So, I understand that this is a sensitive issue. I feel your pain.

First, I think you should be glad your Aunt, and not you, is on the ownership.
Second....let it go. You can easily do better than this avoid a family situation or personal inconvenience as you have mentioned.

There is little to no value here......certainly not worth any mental anguish.
IMHO

cheers. Wish you luck.

 

[vacationtime1]

There is nothing preventing you from using the timeshare while Grandma continues to own it. You pay all of the MF's, exchange costs, and guest certificate fees (which you will need because the timeshare is still in Grandma's name) -- and you trade and use her timeshare. It will become easy for you to decide if you want to accept legal responsibility for it when she passes.

Aha! There is something preventing you from using the timeshare while Grandma continues to own it.

I agree with the others. Stay away; you don't need the headache -- especially when you can acquire something comparable for a dollar.

 

[Passepartout]

The issue with using her timeshare as is is that my aunt is listed on the account and you apparently can only have one other person listed besides the owner. There is a bit of a rift between my aunt and I that happened 7-8 years ago. When my husband and I used the timeshare in 2016 my aunt actually tried to cancel the reservation we had. Unfortunately, my grandmother is not willing to remove her as she feels it would cause a rift between the two of them (even though my aunt has a timeshare through RCI of her own and she has never used the one that my grandmother owns). Leaving my aunt on the account allows her to make changes to reservations without anyone's knowledge, which does not sit well with me. Additionally, my grandmother is getting up there in age and isn't in the best health. Obviously I don't want to plan for my grandmother passing away, but it will happen eventually and if we were planning to use the timeshare and she did pass away then we are left in a bit of a limbo with a hotel reservation.

That settles it. Do nothing. Consider it a closed chapter in Grandma's book. Regardless of which sister is left with it, it's none of your business.

If there's anything else we can help with, c'mon back.

Jim

 

[silentg]

I agree, since your Aunt’s name is on the timeshare you shouldn’t use it. Would be better for you to get your own at another resort.
Silentg