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Exiting a Timeshare

Boogettyman

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How do i get out of my time share with little or No Cost?
 

SteelerGal

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If already paid off, then giveaway on TUG.
 

LannyPC

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Westgate also has its Legacy program which will allow some owners under certain conditions to surrender ownership back to Westgate. Westgate might charge a fee plus closing costs but those are small in comparison to these exit/relief/cancel companies and law firms.
 

Boogettyman

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It's Not Paid Off .... Need to Exit out of it. Can not keep up with it anymore .. West Gate Vacation Villas Orlando - Week 51 - 2 Bedroom - Even Years Use.Thank you for Comments..
 

TheTimeTraveler

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It's Not Paid Off .... Need to Exit out of it. Can not keep up with it anymore .. West Gate Vacation Villas Orlando - Week 51 - 2 Bedroom - Even Years Use.Thank you for Comments..


There's no easy way out as long as you owe money on it. The best thing to do is to try and pay it off and then sell it or give it away.

Of course you could always declare bankruptcy and walk away from it, but that brings on a lot of other issues which you may not want to deal with (i.e. credit issues for "X" amount of years, etc.).




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LannyPC

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It's Not Paid Off .... Need to Exit out of it. Can not keep up with it anymore .. West Gate

Well if it's not paid off, that cancels my suggestion of contacting Westgate's Legacy program to take it back. It only takes back TSs that are paid up in mortgage and MFs. I guess Time Traveler's suggestions above are your next best bets.
 

CalGalTraveler

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You don't need to declare bankruptcy but you will get a ding on your credit if you walk. Confirm your deed is in Florida. If so, Florida is a non-judicial, anti-deficiency state if you don't object to the foreclosure for Westgate to take back your timeshare. If you object, or are perceived to object (be careful they may try to trap you or a family member who answers the phone into objecting), then you lose your rights and they can go after other assets you may have. So do absolutely nothing. Do not respond. Do not give them more money. Ignore the calls and letters from debt collectors and take the credit hit if that is your only option.

Check out the state timeshare laws in the sticky for Florida below, and pay for an hour with a real estate attorney in Florida with this information to confirm your options because we are not lawyers.

Florida – FL, inaction or non-objection results in estate, anti-deficiency foreclosure, but objection leads to judicial, deficiency action: http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0721/0721.html
https://www.flrules.org/gateway/ChapterHome.asp?Chapter=61B-37

If you do pursue this option, please report back to TUG what happened to your credit so you can pay it forward to others.

How much do you have left on the loan? If it is small enough it might be easier to pursue what others suggested above.
 
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TUGBrian

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These are the 3 options all owners have to dispose of an unwanted timeshare.

 
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