Overwhelmed: Where to start? Need exit or out of whole timeshare HGVMAX

[dzv]

Can you please guide me to the 101 of options for exiting the timeshare? My mother owns Diamond, now HGVmax.35K points. She is 80 and no longer has a joy to travel as much and is slowing down physically and MF too much for her fixed income. I manage ALL of this for her for the past 6 years and have been searching this site for options. Can you help me find a thread in here or give me ideas please. She has 2 contracts. US Collections and Cabo Azul. I see posts about selling it to others, using a broker to find a seller, and transfer companies. We need the easiest straight forward way. We have talked to Hilton and of course, not much support. I am savvy and know there are other ways. You all are experts and I appreciate your guidance.

Questions:
1 Do we sell one collection only to help keep this for some travel for us but reduce the MF? IF so, how do we do that? Broker or another site? (who is recommended)
2. Do we sell both collections/can we? If so, how do we do that? Broker or another site?
3. Does anyone know the a range of costs we can expect? It would be great to help her with some money back in the end despite fees etc.
4. Other ideas maybe I am naive to?

 

[geist1223]

Does she really have MAX? That would mean she bought an update in the last few years since Hilton purchased control of DRI. MAX is not really a separate set of Points but an ability to Book into NON DRI Resorts through Hilton.

DRI has very little resell value. DRI charges a fee to turn back each Contract. Is her the only name on the Accounts? If the Contracts are fully paid off and she is the only name on the Account you could simply stop paying the Maintenance Fees.

 

[CalGalTraveler]

Welcome to TUG. I am sorry to hear about your mother.

Your message sounds like you want to keep one for travel. You have the option to sell one and keep the other.

A) Check the TUG HGV Diamond Forum for the latest on deedbacks. From what I understand this is on pause.

B) There is a TUG thread for giving away your timeshares. You may need to offer to pay for the first year stay (MF) (for US collections to sweeten deal) and/or transfer fees with LT Transfers (about $500)

Free Timeshares

Timeshare ownerships offered completely free by owners! Rehome an unwanted timeshare at no cost! Timeshares listed here must be offered completely free!

tugbbs.com

1) Cabo Azul. This is a very nice resort. You might be able to give this away or sell for a small fee. Check Redweek and TUG listings. Resources below.

How to Sell Your Timeshare and avoid getting scammed

How to Sell Your Timeshare (Updated 12/19 by TUGBrian) We at TUG get many questions relating to the various steps in an effort to sell a timeshare week. Here is one formula for selling your week. It is a compilation of recommendations of those here at TUG who have been through the process many...

tugbbs.com

2) US Collection. This one is worthless and will be difficult to exit. If you want to travel, perhaps keep this one until she passes and then let it pass with her estate. Or stop traveling, stop paying fees and ignore collections. You can send a letter to have them stop calling and only write. This may affect her credit but it may not. There is a TUG sticky above with the odds. I am assuming she only owes Maint Fees and not a mortgage so not worth the lawyers to take her to court. She may eventually get a deed in Lieu offer.

Do not put your name on ANY of these timeshares or you will be liable. Worst case these timeshares will eventually pass with her estate.

 

[geist1223]

One of the problems with Resell of what was DRI is the rather severe restrictions on use by the person that purchases the resell. As previously said Cabo Azul may be the easier one to give away. Do not count on getting much if anything. The US Collection has zero value. So as suggested you might give away Cabo Azul. Check out the free Timeshares on this site.

DO NOT pay any money to any organizations that promises to help you get rid of a Timeshare. They are all scams.

 

[dzv]

Does she really have MAX? That would mean she bought an update in the last few years since Hilton purchased control of DRI. MAX is not really a separate set of Points but an ability to Book into NON DRI Resorts through Hilton.

DRI has very little resell value. DRI charges a fee to turn back each Contract. Is her the only name on the Accounts? If the Contracts are fully paid off and she is the only name on the Account you could simply stop paying the Maintenance Fees.

Yes. She had DRI and did the upgrade.
Yes. She is the owner. She bought it with her husband and he died before they could really use it so I got his name off and it's only hers the past 6 years. I am an associate. I firmly made sure I was not added to this for liability reasons.
Yes. Everything is paid off. Just the maintenance fees which of course go up every year. I was concerned about collections and leans but I do see down below someone talking about this.
Thank you so much!

 

[geist1223]

MAX does not transfer upon resell. So if she sells or gives away (more likely) just the DRI Points would transfer. The other two options are Contact DRI for a Deed Back. I believe the cost is $1,000 per Contract. Or just stop paying the Maintenance Fees. Ignore all emails, letters, and telephone calls. Eventually DRI will take it back via Default. The odds of a Lien is very small. Many times when it is only MF no negative Credit Rating Hit.

 

[dioxide45]

Unless she upgraded in the last few years, there is no HGV Max anyway. The main problem with resale DRI points is that there are heavy restrictions on the use by the resale buyer. THis is why there is really no resale market for DRI point collection contracts.