• 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 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th 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 $21,000,000 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 $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ 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!

Spinnaker resort buyback program

Tammy creasy

Guest
Joined
Aug 14, 2017
Messages
17
Reaction score
2
Points
64
Resorts Owned
Spinnaker and marriot
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.

Sent from my SM-N975U using Tapatalk
 

Tammy creasy

Guest
Joined
Aug 14, 2017
Messages
17
Reaction score
2
Points
64
Resorts Owned
Spinnaker and marriot
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.

Sent from my SM-N975U using Tapatalk
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
22,091
Reaction score
7,673
Points
1,099
Location
Florida
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!
 

jules54

TUG Member
Joined
Jun 8, 2005
Messages
2,644
Reaction score
713
Points
498
Location
Lincoln, Nebraska
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.
 

dioxide45

TUG Review Crew: Expert
TUG Member
Joined
May 20, 2006
Messages
47,354
Reaction score
18,913
Points
1,299
Location
NE Florida
Resorts Owned
Marriott Grande Vista
Marriott Harbour Lake
Sheraton Vistana Villages
Club Wyndham CWA
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.
 

dougp26364

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
14,480
Reaction score
3,154
Points
698
Location
Kansas
Resorts Owned
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.
 

dougp26364

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
14,480
Reaction score
3,154
Points
698
Location
Kansas
Resorts Owned
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.

Sent from my SM-N975U using Tapatalk

DON’T DO IT!

NO ONE is ever forced to accept an inheritance. If your kids don’t want it, they don’t have to take it.
 

pedro47

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
22,066
Reaction score
8,532
Points
948
Location
East Coast
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.
Dioxide45, your tone was so harsh and authority. I liked it because you told the truth.
 

Tammy creasy

Guest
Joined
Aug 14, 2017
Messages
17
Reaction score
2
Points
64
Resorts Owned
Spinnaker and marriot
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.
9b99eb38381d05d14165f8fb43840788.jpg
6b7c3ee17831552af9cdee702c79d178.jpg


Sent from my SM-N975U using Tapatalk
 

falcon

TUG Review Crew
TUG Member
Joined
Jan 27, 2015
Messages
68
Reaction score
47
Points
128
Location
Ontario
Resorts Owned
Discovery Beach Resort

Resort on Cocoa Beach
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 Colorado Kid

TUG Member
Joined
Jul 25, 2020
Messages
1,382
Reaction score
873
Points
173
Resorts Owned
Westin Riverfront
Christie Lodge
Apollo Park
Grand Timber Lodge
Indian Palms
Massanutten
Park Regency
Valdoro Mountain Lodge
Marriott Surfwatch
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
Wanting to learn...I have also read that timeshares can be refused by heirs? Not sure how that occurs.
 

falcon

TUG Review Crew
TUG Member
Joined
Jan 27, 2015
Messages
68
Reaction score
47
Points
128
Location
Ontario
Resorts Owned
Discovery Beach Resort

Resort on Cocoa Beach
Wanting to learn...I have also read that timeshares can be refused by heirs? Not sure how that occurs.
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.
 

falcon

TUG Review Crew
TUG Member
Joined
Jan 27, 2015
Messages
68
Reaction score
47
Points
128
Location
Ontario
Resorts Owned
Discovery Beach Resort

Resort on Cocoa Beach
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.
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
22,091
Reaction score
7,673
Points
1,099
Location
Florida
deedbacks are a thing, but only when dealing directly with the resort.

there are no "3rd party" deedback programs.
 

falcon

TUG Review Crew
TUG Member
Joined
Jan 27, 2015
Messages
68
Reaction score
47
Points
128
Location
Ontario
Resorts Owned
Discovery Beach Resort

Resort on Cocoa Beach
deedbacks are a thing, but only when dealing directly with the resort.

there are no "3rd party" deedback programs.
But if the resort does not allow deedbacks, as was our case, the owner is stuck with them in perpetuity
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
22,091
Reaction score
7,673
Points
1,099
Location
Florida
spinnaker may not have an official deedback program, but they have taken them back on a case by case basis for years.

it can always be given away, or defaulted on as a last ditch option if there is no success in negotiating a surrender.
 

falcon

TUG Review Crew
TUG Member
Joined
Jan 27, 2015
Messages
68
Reaction score
47
Points
128
Location
Ontario
Resorts Owned
Discovery Beach Resort

Resort on Cocoa Beach
I know this is an older thread but I've been told I can deedback my every other year Branson Spinnaker for $500. Does this seem fair and/or legit?
 

dioxide45

TUG Review Crew: Expert
TUG Member
Joined
May 20, 2006
Messages
47,354
Reaction score
18,913
Points
1,299
Location
NE Florida
Resorts Owned
Marriott Grande Vista
Marriott Harbour Lake
Sheraton Vistana Villages
Club Wyndham CWA
I know this is an older thread but I've been told I can deedback my every other year Branson Spinnaker for $500. Does this seem fair and/or legit?
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.
 

tschwa2

TUG Review Crew: Veteran
TUG Member
Joined
Dec 19, 2008
Messages
16,002
Reaction score
4,676
Points
748
Location
Maryland
Resorts Owned
A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
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.
 

rickandcindy23

TUG Review Crew: Elite
TUG Member
Joined
Jun 6, 2005
Messages
31,892
Reaction score
8,997
Points
1,049
Location
The Centennial State
Resorts Owned
Wyndham Founder; Disney OKW & SSR; Marriott's Willow Ridge,Shadow Ridge,Grand Chateau;Val Chatelle; Hono Koa OF (3); SBR(LOTS), SDO a few; Grand Palms; WKORV-OF (2),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.
Exactly what I am worried about. We have our kids' names on a bunch of timeshares, and I really should get their names off.
 

falcon

TUG Review Crew
TUG Member
Joined
Jan 27, 2015
Messages
68
Reaction score
47
Points
128
Location
Ontario
Resorts Owned
Discovery Beach Resort

Resort on Cocoa Beach
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.
Agreed. I know the cost to transfer a deed is about $20. But not terrible I suppose. And yes, it's direct so not a scam.
 

falcon

TUG Review Crew
TUG Member
Joined
Jan 27, 2015
Messages
68
Reaction score
47
Points
128
Location
Ontario
Resorts Owned
Discovery Beach Resort

Resort on Cocoa Beach
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.
Oh wow! Thanks for that information. Good points
 
Top