Should I acquire my dad's Diamond Resort property?

[AZ Dowzer]

My dad recently passed away. He owned Diamond Resorts - Ridge on Sedona. From what I can determine it is 11,000 points, 23rd week. Maintenance fees are $1,200 per year and Club dues are $250. I am told that I can have the ownership transferred to my name by paying the above fees which are past due plus a transfer fee of $250. I have never owned a timeshare and am skeptical as to whether the $1,450 annual fee is worth what you get. I am interested in hearing from you timeshare pros what you think.

 

[Rent_Share]

Kindly say NO THANK YOU - Volunteer to execute a quit claim deed in releasing any interest you might have had in the property

The annual fees are just too high and you wil never have an easier time to get out than right now

 

[Bill4728]

The annual fees are just too high and you will never have an easier time to get out than right now

Both these things are true:
-The MF due seem too high
-You will never have an easier way of getting rid of it.

BUT there are many people who like Diamond -DRI and getting the ownership thru a family transfer you'll still retain membership in the DRI "CLUB"

So you'll have to decide, is the DRI ownership & "CLUB" membership worth the high fees?

READ the DRI FAQ here on TUG

Sorry about your Dad.

BUT Good Luck and Welcome to TUG

 

[csalter2]

Maintenace Fees High

If the annual maintenance fees are $1200 for one year at Sedona, that's too high. I don't believe that they are that much. That might be for two years or it's one year with late penalties or something. Hawaii timeshares are in that range so I think there might be an error there.

 

[Kauai Kid]

My condolances: There is a group called Grief Share that may help you some.

Before you say yes be sure and Google Diamond Resorts Complaints to make sure you want to get involved with this company.

Timeshares are like marriage: Easy to get into and hard to get out of.

Timeshares are like ink jet printers: You will end up paying more for the ink (or maintenance fees) than the printer (or timeshare) costs.

Sterling

 

[Rent_Share]

With the exception of previously mentioned club "benefits" that cannot be transferred - you can buy back in at $ 1.00

- As an alternative strategy just put them off and do your research . . . .

- You want to be doubly sure before you commit to their fees, that seem to have no reasonable limits on the escalation . . .


Again - right now is the easiest time to walk away, once youre on the maintenance fee contract - you may have more difficulty finding a willing victim to assume that liability.

My condolences - about the loss of your parent, I am dealing with selling the family house and distributing the assets, fortunately there are no time share deeds or vacation properties to add to the logistical nighmares

 

[Patrick Duffy]

AZ Dowzer response from DRI

Condolences to you and family.....

If you have any questions about your fathers ownership and/or transfer, pleae feel free to reach out to me for explanation of any and all options and/ or clarifications.

Yours truly,
Patrick Duffy
Chief Experience Officer
Diamond Resorts International

patrick.duffy@diamondresorts.com

 

[AZ Dowzer]

Thank you all for your kind words and valuable input. I will check to see if the fee information that I have is accurate but most likely I will pass on this. We do like vacationing but not usually in Sedona and I am skeptical about being able to use the points where and when we want to go. Thanks again.

 

[Rent_Share]

Condolences to you and family.....

Yours truly,
Patrick Duffy
Chief Experience Officer
Diamond Resorts International

patrick.duffy@diamondresorts.com

Now there's a lurker

 

[Rent_Share]

I'm not a lawyer, but there seems to be a lot of mis-information here.

One thing though, the "value" of the timeshare for estate purposes is essentially zero, have the estate executor compare similar propeties that sell for $1 on eBay.

My Point was -

• It is worth nothing -
• The estate is liable for any past due maintenance fees -
• The estate can abandon it as worthless
  • That is what was intended when I said quit claim (I assumed you are the adminstrator/executor)
• If it is transferred then whatever beneficiary becomes liable for the future maintenance fees
• Selling it for $ 1.00 to end the future liability of maintenance fees can be quite costly - and is ripe with scam artists trying to profit on a desperate situation

The real focus should be on What potential value "Club" has since every thing else on the account can be repalced for $ 1.00 on ebay

Here's another Web Site - http://www.timeshareforums.com/forums/diamond-resorts-international-fka-signature-sunterra-epic/ with DRI Information -