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Court is requiring me to sell timeshare

Discussion in 'Buying, Selling, Renting' started by Broke, Nov 14, 2017 at 12:35 PM.

  1. Broke

    Broke Guest

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    I got divorced and the court requires me to sell my Vistana Sheraton Flex timeshare. I've only had it maybe 2 years. But can I sell this? Give it away? Etc? I don't know my options or even where to start. Vistana was absolutely 0 help in this regard. Any help is greatly appreciated.
     
  2. LannyPC

    LannyPC TUG Member

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  3. Broke

    Broke Guest

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    I read over that thread already. It really offers me no concrete direction of where to go to fix my issue. Thanks though.

    After reading through the "bargains" section it looks like giving it away is even difficult. We would be willing to pay the loan off and just give it away I think. Is this a realistic option? I just don't want to go back to court with this still hanging on and have to explain to the judge that it seems almost impossible to get rid of.
     
  4. bogey21

    bogey21 TUG Member

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    Because there is a loan on it, it can't be sold or given away unless the loan is paid off. Personally I would tell the Judge that you can't sell it or give it away until the loan is paid off and that you don't have the ability to pay it off. If it were me, I'd try to get the Court to order my Ex to pay it off.

    George
     
    Last edited: Nov 14, 2017 at 12:54 PM
    Sugarcubesea likes this.
  5. ssreward

    ssreward TUG Member

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    It's almost definitely going to require giving it away or even taking a loss on it by providing an incentive to the buyer. It might be beneficial to make it clear to both your ex & the courts that this is a negative value asset. If anything, I'd offer it entirely to the ex & let them deal with it!
     
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  6. Broke

    Broke Guest

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    Already tried that.:) I lobbied hard for her to have the timeshare to no avail. I can pay the loan off with no issues so that's not a problem. It's a $35,000 lesson that I learned the hard way.
     
  7. Broke

    Broke Guest

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    One other thing. Sheraton Vistana pointed me in the direction of Arda.org which apparently doesn't even do resales. And the other website they recommended was redweek? I don't know anything about these though so any info is helpful.
     
  8. TUGBrian

    TUGBrian Administrator

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    the link posted above is a step by step guide on how to sell (or give away in your case) on the resale market, and avoid being scammed.

    reading all of it would answer your questions very quickly! It was written specifically to answer this question...as its the most common one we get day in and day out.
     
  9. tschwa2

    tschwa2 TUG Member

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    Just to let you know, it is probably worth less than $1000 and maybe even $0 even when you pay it off. Flex has almost no resale value. I wouldn't spend a lot trying to sell. That will just be more out of pocket expense.
     
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  10. DeniseM

    DeniseM Moderator

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    There is an easy fix - instead of trying to sell it, just give it to your ex. You will be doing yourself a favor.
     
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  11. ssreward

    ssreward TUG Member

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    The marketplace here on TUG or Redweek would probably be your best choices for listing. Some go the eBay route but there's a listing fee & notification fee without any guarantee of a buyer since their timeshare auctions are considered non-binding.
     
  12. DeniseM

    DeniseM Moderator

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    ssreward - I know you are trying to help, but this deed has no resale value, and it has a mortgage on it - it is not sellable.
     
  13. turkel

    turkel TUG Member

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    The judge will not force you to sell if you and your ex can agree on what to do. At least this was my experience during my divorce. I gladly relieved my ex of the liability and have gone on many wonderful vacations since our divorce 7 years ago. At first he wanted me to pay him half of what we originally paid. I printed out multiple listings which were active and sold on e bay and he soon said yeah you can pay the maintenance fees and have it. That was a good decision for both of us.

    Good luck, sorry about your divorce, life does get better I promise!
     
  14. ssreward

    ssreward TUG Member

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    He's already said he's willing to pay it off & the ex doesn't want it. It seems the only option IS selling/giving it away.
     
  15. DeniseM

    DeniseM Moderator

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  16. bnoble

    bnoble TUG Member

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    I'd try to get (my lawyer to convince) the court to view this as a liability instead of an asset. You might need to get some resale data from ebay, TUG or what-have-you to demonstrate that. But, if that happens then you (a) probably will not be forced to sell it and (b) might be able to use it to offset something else in the settlement if you keep it as a liability.
     
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  17. Panina

    Panina TUG Review Crew: Veteran TUG Member

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    I have had good success giving away timeshares here on TUG, in the bargain section and marketplace section. First pay it off and if you want to give it away faster, pay all closing costs and offer to pay one year of maintenance fees.
     
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  18. VegasBella

    VegasBella TUG Member

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    This needs to be clear to the court. Who's money is going to be used to pay off the loan? If the ex doesn't want the timeshare, do they really want you using funds that might be split to instead go to a creditor?

    So just pay it off and then list it for sale here, on RedWeek, craigslist, and ebay - see who bites. It if you get a buyer great. If not, offer it for free here on TUG. If you still don't get a taker then you take all the info back to court and explain this timeshare is worthless and you can't sell it or give it away.
     
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  19. Broke

    Broke Guest

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    I've had a few people PM me with interest in this. So we may already have a solution to my dilemma. I know this isn't a run of the mill situation and it is certainly a "new to me" event so I'm trying to learn as much as I can. Thanks for all of the help so far. You guys/gals are really knowledgeable.
     
  20. DeniseM

    DeniseM Moderator

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    Be very careful - anyone who offers to help you get out of your timeshare for a fee, is a scammer. Now that you have posted your desire to unload this timeshare, you may hear from some of these "rescue companies."
     
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  21. Broke

    Broke Guest

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    I'm incredibly careful. I appreciate the heads up.
     
  22. presley

    presley TUG Review Crew: Expert TUG Member

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    The savvy people on Tug will take a timeshare for free if they want one. I wouldn't trust anyone who sends a PM saying they will take it for free after you pay it off. They can get a free one from someone else right now if they want one.

    The court is very uneducated if they are telling you to sell it. You will not be able to sell it.
     
  23. DeniseM

    DeniseM Moderator

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    Yes, and no - this is a newish program that Vistana is offering: FlexOptions. Since it is fairly new, I don't think there is much availability yet. So this may be attractive to some people.

    Upon transfer, it will retain the FlexOptions which can be used at the 6 FlexOption resorts, but it will not have Staroptions or Starpoints.

    It's also possible that some people don't understand that the Starptions don't transfer.

    FLEX OPTIONS: https://www.tugbbs.com/forums/index.php?threads/flex-options-f-a-q.238504/
     
    T-Dot-Traveller likes this.
  24. uscav8r

    uscav8r TUG Review Crew: Expert TUG Member

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    It makes absolutely no sense for the court to force you to sell the timeshare. It is not an asset, but a liability.

    Before you haul off and Paul off the loan and give it away (or even take cash), the question is whether you would use it in the future. If you are okay with the MF and value you would get out of your vacations, then try to hold on to it for now.


    Sent from my iPhone using Tapatalk
     
  25. Broke

    Broke Guest

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    The timeshare was to be used when visiting the in-laws. Which won't be an issue now as there is no reason to visit them. It won't be used in the future. And really I need to satisfy this court order so it has to go. Apparently the court sees it as an asset and a liability since we were ordered to sell it and both pay the costs until it's sold.
     

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