My exit strategy.

[Tumblindice]

I am prepared for some critisism for my strategy but perhaps someone will view this as a way to a final timeshare solution. I had my Dr. write a letter about my travel limitations due to declining health. I sent the letter and enclosed a letter asking to relinquish my ownership. The resort said they would do it when I sent a check for $2000.00. I didn't like that but since I will not have to pay the $1100.00 maintenance fee in January 2025 I viewed it as $900.00 to put it all behind me. During this period an outfit from Arizona invited me to Ruths Chris for lunch and an "exit" oppurtunity" seminar. They could do it for $6000.00! I considered walking away but didn't want any probate problems left for my children. The resort handled it quickly and I AM FREE!

 

[TheTimeTraveler]

Good to hear you are out....

By the way, how was the free lunch at Ruth Chris? Steak or Hamburg?










.

 

[5finny]

Assuming the letter was legit I think your strategy was fine
I think the resort's response was reasonable and your financial decision was good

 

[easyrider]

I am prepared for some critisism for my strategy but perhaps someone will view this as a way to a final timeshare solution. I had my Dr. write a letter about my travel limitations due to declining health. I sent the letter and enclosed a letter asking to relinquish my ownership. The resort said they would do it when I sent a check for $2000.00. I didn't like that but since I will not have to pay the $1100.00 maintenance fee in January 2025 I viewed it as $900.00 to put it all behind me. During this period an outfit from Arizona invited me to Ruths Chris for lunch and an "exit" oppurtunity" seminar. They could do it for $6000.00! I considered walking away but didn't want any probate problems left for my children. The resort handled it quickly and I AM FREE!

To me, dealing with the resort to relinquish an ownership is way less a hassle than finding a new owner and doing a transfer. Good for you !!

Bill

 

[Fido Chuckwagon]

I am prepared for some critisism for my strategy

Your strategy seems perfectly sound to me. Now if you had paid an exit company/scam then you would get some criticism. Good job not going down that path!

 

[pedro47]

I liked the OP strategy.
One question. Why did the owner of the timeshare had to paid $2000.00 dollars to cancel his ownership ?

 

[Fido Chuckwagon]

I liked the OP strategy.
One question. Why did the owner of the timeshare had to paid $2000.00 dollars to cancel his ownership ?

Extortion by the developer. I can maybe see a developer justifying charging 1 year’s maintenance fees plus the recording/closing costs for a new deed, but beyond that, it’s extortion.