If a timeshare owner dies, then what should the estate/heirs do?

[seema]

My aunt, who owned one timeshare week in Maui, and another one in Fairmont Hot Springs, BC, recently died. She willed the timeshares to be divided to her 3 children (my cousins).

She was also a member of II.

What do my cousins/estate have to do now?

 

[T_R_Oglodyte]

I suggest that none of you accept ownership of any unit unless you really want to own. She can will it to you but you don't have to accept it.

Should any of you want the timeshares I suggest you work out an arrangement so there is no joint ownership. That will almost certainly lead to headaches down the road. Even if one of you actually wants a unit, that person should not accept it unless he or she would own it individually.

 

[LannyPC]

What do my cousins/estate have to do now?

Judging from the number of posts you have, you probably don't need to be told about the vultures out there making all sorts of whacky promises to desperate timeshare owners (or their heirs) that, for a large fee, they can magically relieve the heirs of this timeshare burden.

The best suggestion I could give would be to direct your cousins and whoever is handling your aunt's estate to TUG's free giveaway section.

 

[Rent_Share]

Judging from the number of posts you have, you probably don't need to be told about the vultures out there making all sorts of whacky promises to desperate timeshare owners (or their heirs) that, for a large fee, they can magically relieve the heirs of this timeshare burden.

The best suggestion I could give would be to direct your cousins and whoever is handling your aunt's estate to TUG's free giveaway section.

They need to reject the "gift" and the executor needs to start the abandonment process - He/She could attempt to give it away through the Tug channels however ultimately it can be abandonned and end up back with the HOA.

 

[ronparise]

this need to be handled like any other asset in any other will.

The administrator needs to either have the ownership re titled to the heirs, or if one or more of the heirs dont want it. The administrator has to sell it and distribute the proceeds (if any)...As has been said. the administrator can not pay the fees, and either give it back to the property owners association, if they will take it, or abandon it to foreclosure.