• 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 30th 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 $23,000,000 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 $23 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!

My exit strategy.

Tumblindice

TUG Review Crew
TUG Member
Joined
Jan 10, 2021
Messages
24
Reaction score
16
Location
Matthewsw NC
Resorts Owned
Spinnaker
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!
 

5finny

TUG Member
Joined
Jun 8, 2005
Messages
733
Reaction score
320
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

TUG Review Crew: Elite
TUG Member
Joined
Aug 21, 2005
Messages
16,455
Reaction score
9,127
Location
Palm Springs of Washinton
Resorts Owned
Worldmark * * Villa Del Palmar UVCI * * Vacation Internationale*
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

TUG Member
Joined
Sep 18, 2022
Messages
1,762
Reaction score
1,302
Resorts Owned
Disney’s Saratoga Springs Resort; Wyndham Bonnet Creek; Wyndham Bali Hai; Wyndham Canterbury; Wyndham Grand Desert; Marriott Grand Chateau
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

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
23,079
Reaction score
9,246
Location
East Coast
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

TUG Member
Joined
Sep 18, 2022
Messages
1,762
Reaction score
1,302
Resorts Owned
Disney’s Saratoga Springs Resort; Wyndham Bonnet Creek; Wyndham Bali Hai; Wyndham Canterbury; Wyndham Grand Desert; Marriott Grand Chateau
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.
 
Top