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I have considered the buyback program. It is my understanding that the timeshare will go to my children and they have no choice but to take it. Thus is with my current deeded property. I have been told it is hard to get out of spinnaker timeshare. They offered a guarantee to give back the timeshare, I will be trading a 2 2br weeks for a 2br/1 br lockout plus 6k this omes with cheaper MFs and I can add my kids so the have the guaranteed buyback too. Is this worth it? I currently have palace view heights and will get the regular palace view.
I do not want my children stuck with a timeshare. Has anyone else delt with spinnaker and tried to get out of the timeshare or been offered there RTDB program.
a "trade in" is not a give back at all! do not exchange something you dont want, with something else you dont want....all while paying them for the privilege!
your children are not obligated to inherit your timeshare, period!
No one is obligated to inherit a timeshare. Even if it is a bequest in a Will. The way your heirs are required to take a timeshare is if their name is on the deed. DONT PUT THEIR NAMES ON THE DEED PERIOD. When I first started aquiring timeshare in 1994 I only put my name on the deeds as my Children were not of majority age. Around 2005 I started adding their names to Wyndham point contracts so I would not have to buy guest confirmations. Also to 2 out of 12 contracts at Sunset Fishermens Resort in Playa Del Carmen. Peak 7 Breckenridge. Now many years later I’m starting to worry about what I might have saddled one of our sons with. I’m not looking for advice I know the ways to handle it. We love our timeshares and the issue is picking the right time to dispose of the property right before I drop dead.
If they are telling you that if you buy more you are guaranteed to be able to give it back later, it is a 100% lie to get you to buy more. 100% LIE. I believe @dougp26364 was told something similar at a Spinnaker presentation.
Marriott Grand Chateau
Marriott Shadow Ridge
Marriott Ocean Pointe
Marriott Destination Club Points
Hilton Grand Vacation Club Las Vegas Blvd
Grand Colorado on Peak 8
Spinnaker French Quarter Resort Branson
If they are telling you that if you buy more you are guaranteed to be able to give it back later, it is a 100% lie to get you to buy more. 100% LIE. I believe @dougp26364 was told something similar at a Spinnaker presentation.
Almost. Spinnaker wasn’t selling me additional time. They were only selling the right to deed our existing ownership back.
Essentially it was an agreement that I’d keep the unit for a certain number of years and they’d take the unit back for the small sum of nearly $8,000 (if I remember correctly). It was one of the most idiotic proposals we’ve ever seen.
Marriott Grand Chateau
Marriott Shadow Ridge
Marriott Ocean Pointe
Marriott Destination Club Points
Hilton Grand Vacation Club Las Vegas Blvd
Grand Colorado on Peak 8
Spinnaker French Quarter Resort Branson
I have considered the buyback program. It is my understanding that the timeshare will go to my children and they have no choice but to take it. Thus is with my current deeded property. I have been told it is hard to get out of spinnaker timeshare. They offered a guarantee to give back the timeshare, I will be trading a 2 2br weeks for a 2br/1 br lockout plus 6k this omes with cheaper MFs and I can add my kids so the have the guaranteed buyback too. Is this worth it? I currently have palace view heights and will get the regular palace view.
If they are telling you that if you buy more you are guaranteed to be able to give it back later, it is a 100% lie to get you to buy more. 100% LIE. I believe @dougp26364 was told something similar at a Spinnaker presentation.
I am still using the timeshare. I took a picture of the agreement you sign . It look legit to me. I know it's not easy to get out of a timeshare, I've heard it can cost 5 to 10k with a lawyer. This is the only reason I would consider it.
we went through a closure of our timeshare and those contracts are legal and binding and stay in your estate. We saw second generations saddled with it
we went through a closure of our timeshare and those contracts are legal and binding and stay in your estate. We saw second generations saddled with it
The way contracts are written (at least ours which I believe is standard) is that the timeshare is "in perpetuity" and becomes part of the estate. The estate is responsible for the ongoing fees. You can't accept a partial inheritance, because everyone would just accept the assets and decline the liabilities. We had people talking about liquidating all of their assets in order to leave their estate essentially empty to get out of it. When our timeshare dissolved we had several owners dealing with this. I don't think it's as simple as some people believe. The other issue is that if I go into delinquency, ALL the other owners pay my share. The MF's then get more expensive for the remaining owners and that starts the downward spiral. It depends on if there is a viable resale market for the resort. If the developer/manager thinks they can resell, they may have times when they deedback (out of sheer benevolance of course LOL). That was not the case in our situation and deliquent accounts were sent to collections. It has been years of court cases but we are finally almost wrapped up.
a "trade in" is not a give back at all! do not exchange something you dont want, with something else you dont want....all while paying them for the privilege!
your children are not obligated to inherit your timeshare, period!
I have heard mixed things about this. A deeded timeshare is an "asset". My understanding when our resort closed was that owners were unable to tie up estates because of timeshare. I am assuming that deeded timeshare contracts are all the same? Maybe ours was different. But when people walk away, the remaining owners pay their bills, fees go up and then more deliquencies occur. We got sucked into a 1 bedroom every other year at Branson Spinnaker. We are currently using it for exchange, but I'd love to walk away and hand it back. When I heard they do deedbacks, I was really surprised. When I read this scheme of theirs, I was not at all surprised. I hate this company and want to walk away.
If you are talking directly with the resort or Spinnaker, then it is probably legit. $500 probably covers their legal and closing costs. Though I always find it strange that the owner has to pay this when the developer will just take over the week and sell it for full price. The $500 is kind of a money grab, but certainly cheaper than scam exit companies.
If you are talking directly with the resort or Spinnaker, then it is probably legit. $500 probably covers their legal and closing costs. Though I always find it strange that the owner has to pay this when the developer will just take over the week and sell it for full price. The $500 is kind of a money grab, but certainly cheaper than scam exit companies.
I think that many developers especially if they already have enough developer inventory to sell are worried that free unfettered deed backs will end up with more off season inventory than they can sell in a reasonable timeframe. The fee holds some people back. As they get more and more inventory built up they will up the fee. HICV started Horizons as a no fee deed back then went to $500 and now it is either at $1000 or $1500, 5 years after started in 2018.
Spinnaker makes owners who want to transfer (sell or give away) to anyone other than immediate family members pre pay $1500 in future MF's plus pay a $300 transfer fee. That makes the $500 sound like a bargain.
Wyndham Founder; Disney OKW & SSR; Marriott's Willow Ridge, Shadow Ridge and Grand Chateau; Val Chatelle, Pines at Meadow Ridge and Twin Rivers in CO; Hono Koa OF (3); SBR(LOTS), SDO a few); WKORV-OFC-4 and Westin Desert Willow.
No one is obligated to inherit a timeshare. Even if it is a bequest in a Will. The way your heirs are required to take a timeshare is if their name is on the deed. DONT PUT THEIR NAMES ON THE DEED PERIOD. When I first started aquiring timeshare in 1994 I only put my name on the deeds as my Children were not of majority age. Around 2005 I started adding their names to Wyndham point contracts so I would not have to buy guest confirmations. Also to 2 out of 12 contracts at Sunset Fishermens Resort in Playa Del Carmen. Peak 7 Breckenridge. Now many years later I’m starting to worry about what I might have saddled one of our sons with. I’m not looking for advice I know the ways to handle it. We love our timeshares and the issue is picking the right time to dispose of the property right before I drop dead.
If you are talking directly with the resort or Spinnaker, then it is probably legit. $500 probably covers their legal and closing costs. Though I always find it strange that the owner has to pay this when the developer will just take over the week and sell it for full price. The $500 is kind of a money grab, but certainly cheaper than scam exit companies.
I think that many developers especially if they already have enough developer inventory to sell are worried that free unfettered deed backs will end up with more off season inventory than they can sell in a reasonable timeframe. The fee holds some people back. As they get more and more inventory built up they will up the fee. HICV started Horizons as a no fee deed back then went to $500 and now it is either at $1000 or $1500, 5 years after started in 2018.
Spinnaker makes owners who want to transfer (sell or give away) to anyone other than immediate family members pre pay $1500 in future MF's plus pay a $300 transfer fee. That makes the $500 sound like a bargain.
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