[ 2015 ] Wish to absolve ourselves of Festiva Church Street Inn EOY

[Oldadmark]

We will give away our EOY timeshare with Festiva. It is week 26 at the Church Street Inn in Charleston SC. We've had this deeded week for many years. The deed is on file in the Charleston Courthouse. We haven't done this type of transaction before but if we can legally and easily give this away without any cost to us and avoid any further obligations (maintenance fees, etc) we will be receptive to those who would like to contact us.

 

[tschwa2]

how much were the 2015 MF's? What is the size of the unit? Is check in on Friday, Saturday or Sunday? What is the transfer fee?

 

[Oldadmark]

Last MF was $722.15. It's a 1-BR. I'll have to research the other questions since we're just getting started on this process. There was a $581.00 assessment for renovations which I paid in 2013.

 

[Ricci]

How much do you pay yearly? Did you trade through II or RCI? If II... Does it get an AC for depositing the week? Week 26 is your deeded week, but what weeks are you allowed to book in the float time period with Festiva? Are maintenance fees paid through 2015 or 2016?

 

[csxjohn]

We will give away our EOY timeshare with Festiva. It is week 26 at the Church Street Inn in Charleston SC. We've had this deeded week for many years. The deed is on file in the Charleston Courthouse. We haven't done this type of transaction before but if we can legally and easily give this away without any cost to us and avoid any further obligations (maintenance fees, etc) we will be receptive to those who would like to contact us.

Is this a fixed week, part of a points program, or a floating week at that resort?

 

[dsanner106]

Do you still have this

I was looking at your post from September on the Church St. Inn and wondering if you still have it.
Thanks
Dsanner106

 

[DeniseM]

Please note that the post is from 2015, and the poster has not been back in about 10 months, so the best way to contact him is to click on his blue user name and send him a message.

 

[jdcichaski]

[Deleted - This forum is for free timeshares only.]

 

[jdcichaski]

We will give away our EOY timeshare with Festiva. It is week 26 at the Church Street Inn in Charleston SC. We've had this deeded week for many years. The deed is on file in the Charleston Courthouse. We haven't done this type of transaction before but if we can legally and easily give this away without any cost to us and avoid any further obligations (maintenance fees, etc) we will be receptive to those who would like to contact us.

 

[jdcichaski]

We also own at Church Street Inn. I would like to know if you were successful in giving your week away as we have ours listed for $600 just to cover recording transfer fees.
Tried to get them to buy back but no go so wondered how you did
Thx

 

[Oldadmark]

We will give away our EOY timeshare with Festiva. It is week 26 at the Church Street Inn in Charleston SC. We've had this deeded week for many years. The deed is on file in the Charleston Courthouse. We haven't done this type of transaction before but if we can legally and easily give this away without any cost to us and avoid any further obligations (maintenance fees, etc) we will be receptive to those who would like to contact us.

We’re out! Out of the blue, the CEO of the holding group for Festiva offered us the opportunity to sell our church street inn timeshare back to them for a cash offer and a free week at the inn. We took the offer and sold it back! Just don’t understand why they just sent me a 1099 for the cash they paid me. The 1099 was Non-Employee Compensation. We bought the timeshare from them for 10k, they bought it back for 2k.

 

[Ty1on]

Since your basis is $10K, you won't need to pay income tax on that 1099. Do you use a tax preparer?

 

[Laurie]

We’re out! Out of the blue, the CEO of the holding group for Festiva offered us the opportunity to sell our church street inn timeshare back to them for a cash offer and a free week at the inn. We took the offer and sold it back! Just don’t understand why they just sent me a 1099 for the cash they paid me. The 1099 was Non-Employee Compensation. We bought the timeshare from them for 10k, they bought it back for 2k.

Since your basis is $10K, you won't need to pay income tax on that 1099. Do you use a tax preparer?

You may need to file a state return to SC, in addition to an extra schedule on your fed return, showing no income tax due from that transaction. This once happened to us when we sold a Hawaii timeshare, when we were mailed a 1099, and I think that's what our tax preparer did.