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Is it better to give my timeshare to a Charity? If not which other option is best?

Debzz

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Hi, I just joined after reading about this site, TUG, on Clark Howard's site. We have a TS week in Cocoa Beach we bought in the 80's. I would like to donate or give back to the HOA (is it called)? I am unfamiliar with the definitions and terms, sorry. It is paid for and clear, no liens etc. no monies owed. My spouse is getting older, and due to his increasing medical visual challenges, we realize we need to relinquish the week. I have donated a few vehicles over the years to charity, but Clark's site mentioned they, a charity, may want an upfront fee. I do not understand that, so I decided to come here and ask for advice from you all TS, experts.
Thank you kindly.
 

Luanne

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I don't have an answer, but I do have a question. If a timeshare is donated to a charity, wouldn't the charity then become responsible for the maintenance fees? I doubt any charity would want to take that on.
 

Paumavista

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Please look on this site under the Buying/selling/renting timeshare heading above. There is a tab about "giving away" your timeshare here on TUG. People with a lot more info will provide answers. Look under Free Timeshares (a subheading).
 

silentg

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What is the name of your timeshare, ? What week? Maintenance fee?
Try giving it away on TUG don’t donate to this Clark company, especially if they want a fee.
For$15. You can join tug and give it to someone who will use it.
 

AwayWeGo

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[triennial - points]
Back when timeshare properties still had some value, some charities would accept them as donations.

That was several years ago. More lately, as most timeshare ownership has had zero value (negative value in some cases), the legit charities are no longer interested. Unfortunately some bogus charites have sprung up offering to take your unwanted timeshare, but only if you fork over major money.

Explore this web site for practical advice about unloading unwanted timeshares yourself without getting hornswoggled & bamboozled.

Above all, don’t get sucked in by those shady timeshare “exit” & timeshare “cancellation” operations that advertise on the radio.

— Alan Cole, McLean (Fairfax County), Virginia, USA.​
 

Debzz

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What is the name of your timeshare, ? What week? Maintenance fee?
Try giving it away on TUG don’t donate to this Clark company, especially if they want a fee.
For$15. You can join tug and give it to someone who will use it.

This is Clark Howard's site. He's nationally known for his money-saving tips/strategies. This is his site, you might recognize him from there. Also just search his name, I'm thinking you will know of him, if links aren't allowed here. https://clark.com/travel/how-to-get...ail&utm_term=0_afa92deb83-16d7f0ab5f-71407557 My TS is Cocoa Beach, Ocean Landings week 46, but we mostly do exchanges to other resorts, since we live here in Fl.
 

Debzz

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Debzz

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Please look on this site under the Buying/selling/renting timeshare heading above. There is a tab about "giving away" your timeshare here on TUG. People with a lot more info will provide answers. Look under Free Timeshares (a subheading).

Thank you, I will check further on the site here as you mentioned.
 

Debzz

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Back when timeshare properties still had some value, some charities would accept them as donations.

That was several years ago. More lately, as most timeshare ownership has had zero value (negative value in some cases), the legit charities are no longer interested. Unfortunately some bogus charites have sprung up offering to take your unwanted timeshare, but only if you fork over major money.

Explore this web site for practical advice about unloading unwanted timeshares yourself without getting hornswoggled & bamboozled.

Above all, don’t get sucked in by those shady timeshare “exit” & timeshare “cancellation” operations that advertise on the radio.

— Alan Cole, McLean (Fairfax County), Virginia, USA.​
Thank you I am definitely leery about all this entails and thought donating would be a win-win, maybe, but didn't get what "they may want upfront fees meant" as it said on his site. Especially since I did not have to pay any "fees" to donate my cars to charity.
 

tschwa2

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There hasn't been charities that accept timeshares in more than 15 years ago. Around 15 years ago, groups that purported to work with charities switched to a model where they would charge owners $2000+ give $50 plus the proceeds from an eBay sale (usually close to $0) to the charity and give you an valuation of your timeshare of $10,000 or so so you could take a tax deduction. In the last 5 years, most of those orgs got in trouble. So now I don't think anyone even pretends like charities have anything to do with accepting timeshare ownerships.
 

Talent312

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No legit charity wants to be saddled with MF's for a TS (especially one that you don't want), nor would they want an upfront fee.

My suggestions: (1) See if your TS HOA or management will accept a deed-back. (b) Try to give it away in the "Free TS" forum that's part of the "Buying, Selling, Renting" forum above.
.
 

silentg

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If you are using the week for trades, are you getting good options? You could try renting it since the maintenance fee is reasonable. I see other ads on tug for sale or rental. Give it a try. Looks like a nice place.
 

bogey21

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20 or so years ago I donated a number of Weeks to Charities to get rid of them. Back then Charities could sell the Weeks and realize some money out of the deal. In today's market that is no longer feasible. I suspect a scam if a supposed Charity is asking for dollars to take your Week. As suggested by Talent312 your best bet is to see if HOA will accept a Deed Back even if they want a few bucks to do it. If that fails, offer the Week for sale for free subsidizing your offer by agreeing to pay closing costs if necessary. All in all I prefer the Deed Back even if you have to pay up to one years MF to do it as it will be a "clean" transaction...

George
 

R1964

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I would suggest that you contact the HOA or management company to see if they will take the unit back. I help my parents deed one of their weeks back to the HOA (different resort). It cost nothing to ask you may have to pay this years MF (which is already paid) plus closing cost. If that doesn't work try giving it away here on TUG and offer to pay the transfer fee and closing cost you my find someone that would take it off your hands.
 

TUGBrian

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the ONLY legitimate reason to donate to a charity is if you actually have a valuable timeshare and wish to actually be charitable.

and even then you are better off selling the timeshare and directly donating the proceeds to the charity of your choice. at least in this way you get a legitimate charitable deduction.

there is no tax deduction for the donation of a worthless timeshare, and no legitimate charity wants one.

 
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