• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 31 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 31st anniversary: Happy 31st Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $24,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $24 Million dollars
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Is timeshare ownership for perpetuity? [merged]

N

number1brownsfan

TUG Member
Joined
Apr 3, 2013
Messages
3
Reaction score
0
My wife owns a [timeshare]. She would like to sell it for $1. We have banked our week through RCI since we inherited it back in 2000. We have never stayed there, so we cannot give an evaluation. We would give it away to relatives but they do not have the means to pay the maintenance fee. They all have growing families. (The last time we paid the maintenance fee it was $566.) I saw your posting the same day that I signed up you TUG, so I have not yet posted my timeshare for sale. I will try to do that this week.
 
Last edited by a moderator:
Is timeshare ownership for perpetuity?

My wife inherited a timeshare after her mother's probate attorney told her that she was stuck with it. What appeared to be an asset is really a debt that she has to pay every year. Will her heirs have to continue to pay? And will their heirs also be bound? When does it stop?
 
Probate Attorney is wrong if he/she said Wife had to take TS. By law anyone can disclaim (turn down) any inheritance.

George
 
But if she took it her chance to refuse it was lost. Now she needs to sell it if it is no longer wanted. However should she still be the owner when she passed on her heirs would not have to take it.
 
number1brownsfan said:
My wife inherited a timeshare after her mother's probate attorney told her that she was stuck with it. What appeared to be an asset is really a debt that she has to pay every year. Will her heirs have to continue to pay? And will their heirs also be bound? When does it stop?
Click to expand...

It will stop when she sells it, gives it away or dies. As pointed out in the above posts, her heirs will not have to accept it if they don't want it. She was given poor advice by someone who did not want to bother doing it the right way.

Don't use that attorney for your affairs.

http://www.timesharetrap.com/how-to-refuse-a-timeshare-inheritance.html

http://en.allexperts.com/q/Time-Shares-1843/2011/2/Timeshare-deed-perpetuity.htm
 
I have merged your 2 related posts - if you have any more questions or comments, please post them in this thread, for continuity.

Please be aware that now that you have posted, you are very likely to be contacted by scammers making offers on your timeshare - if it's too good to be true - it's not true.

Please consider giving your timeshare away on TUG.

Why?
-You can give it away yourself for nearly no cost.
-You can control the transfer process to make sure it is truly transferred out of your name.
-You won't have to deal with companies that may or may not be Legit.
-You can transfer it to a private individual who will be happy to have it for their own use.
-You will have the satisfaction of knowing that you ended your ownership legally and ethically.

There are TWO places on TUG where you can give away your TS's for free (no charge for the Ads.) THEY ARE COMPLETELY DIFFERENT - SO YOU SHOULD POST IN BOTH AREAS. There are other cheap and free sites on the internet, as well.

TUG Marketplace - the only cost is your TUG membership - $15 (List it for $1 and it will automatically go in the Bargain Basement Ads.)

Bargain Deals - Totally FREE! - just write a simple post with all the pertinent info. In your post, include the following info.:
-resort name
-unit size
-season owned
-maintenance fee
-current reservations​

To make it more attractive I would:

1) Pay the 2013/2014 maintenance fees and don't ask for reimbursement.

2) Pay for the title transfer (you can get a simple title transfer with no escrow or title search for about $100.) Many Tuggers (including me) have been using Legal Timeshare Transfers, a no frills document preparation company, and they are receiving good reviews on TUG.:

Legal Timeshare Transfers/Ready Legal
Lisa Short and Mary Pless
http://legaltimesharetransfers.com/
1.706.219.2709

3) Reserve a popular holiday week in 2013/14 for the new owner

4) Instead of paying a fee to a rescue company - consider offering a cash incentive to the new owner.

5) Here is the very important step that most people miss: Come back to TUG once a week and add more info. to your thread - this will bump it to the top of the page.​


Good luck!
 
Last edited:
You must log in or register to reply here.
Top