Deed to trust?

[wilzap2]

I have a paid off timeshare from 2001. Paid $11,400. DRI wants an additional $15000 for me to change my deeded week into their Trust. Does that sound right? I have 5 days to cancel. Please help!

 

[Karen G]

No, that does NOT sound right! If you have any questions at all as to whether or not this is a good purchase for you, rescind immediately! The deal will still be there once you've had time to research it. But, once those five days pass you'll own it whether it's good for you or not.

$15,000 is a lot of money. Would you spend it that fast on any other kind of purchase without doing some research?

Be sure to follow exactly the rescission instructions in your contract. Send your letter by certified mail so that you'll have a receipt from the post office to prove that you sent it in time. Don't talk to the sales staff any more about it.

 

[vacationtime1]

You have owned since 2001. If your ownership is working for you, no need to spend an additional $15,000. If it is not working, no reason to throw good money after bad.

Rescind immediately.

 

[presley]

You can keep what you already own by cancelling the new purchase. They will always try to upsell you, whether you keep the new purchase or not.

 

[wilzap2]

Thank you everyone.

 

[BocaBoy]

I have a paid off timeshare from 2001. Paid $11,400. DRI wants an additional $15000 for me to change my deeded week into their Trust. Does that sound right? I have 5 days to cancel. Please help!

Are you sure it isn't $1500? It doesn't sound like you bare getting an additional ownership but just changing the nature of what you already own.