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Bequeath my unwanted timeshare to the HOA?

SusanRN

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I had an "ah hah" moment today, although it may not be a new topic to some of you....
If I am unable to rid myself of an unwanted timeshare during my lifetime, can I bequeath it in my Will to the timeshare's HOA or other ownership group and thereby avoid putting my children in the position of having to remember to disclaim it as it passes through my estate?
Any thoughts?
Susan
 

LannyPC

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I actually mentioned that suggestion a couple of years ago but then another TUgger corrected that notion. It sounds good in principle but the downside to that is that the HOA as a beneficiary can hold up legal proceedings upon your passing thus tying things up for your heirs who are wanting to get their hands on your other stuff.
 

R.J.C.

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I actually mentioned that suggestion a couple of years ago but then another TUgger corrected that notion. It sounds good in principle but the downside to that is that the HOA as a beneficiary can hold up legal proceedings upon your passing thus tying things up for your heirs who are wanting to get their hands on your other stuff.

What about putting it in a trust that has the HOA as the beneficiary?
 

LannyPC

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What about putting it in a trust that has the HOA as the beneficiary?

Maybe someone else who is more knowledgeable on this subject can chime in because I have very limited knowledge of laws like this and they also vary from state to state or province to province.

If you are wondering about your personal situation, I would advise you to contact a knowledgeable attorney about this.
 

elaine

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I don't know that putting into a trust gets estate off the hook. But, this got me thinking about our out of state SC timeshares--yikes! looks like they might need ancillary probate if not placed into a trust.
 

Berea1

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Look at your timeshare deed to this timeshare unit!! I am referring to the original timeshares where you purchased a two bedroom, one week unit. You copy that deed exactly with the new owner being the legal name of the actual timeshare such as Marriott Grande Ocean. You contact a lawyer on Hilton Head Island that has done this before and retain her to prepare the document for your signature and have it filed for you. You no longer own it and the Marriott entity for holding Marriott weekly times shares now on sit with the paying of the yearly maitenance fee.Of course,it can now claim as it did when you bought it that it will increase in value over the years. Remember Resale Sally!

You will notice that the majority of Marriott HHI weeks are still entire weeks. Here is the web site to start : BeaufortCountySC.gov real property website. Look to see how Marriott owners transferred their lots back to Marriott, and the problem was solved. Just a thought !!!! Old time Marriott owner with three bronze weeks.OT
 
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