Timeshare Alternatives LLC, any good?

[chris649]

Our father has recently passed away, and our mother cannot travel. We want to get rid of their TS because no-one is able to use it. It is Waterside by Spinnaker in Hilton Head, 1 bedroom, white, week 6, even years, MF $523 every other year.

We have read everything on TUGs Selling Your Timeshare sight as well as researching other internet sites. We don't believe we will be able to sell it or donate it at all. While we realize that defaulting on maintenance payments is not an honourable thing to do, we also feel that once our mother passes away, we feel we should not be responsible for payments for something we did not sign or have anything to do with, and do not want. We are desperately trying to find some way to resolve this before she passes away.

One thing that we have heard of is paying a fee to transfer to a Limited Liability Company, such as Timeshare Alternatives or Apex Professionals. Has anyone ever heard of this or has anyone any other suggestions?

 

[timeos2]

Start at the beginning - be careful what you decide to pay for

1st step is to find out if the resort will take a deed back. If so that is your very best choice.

All of the PCC or LLC set ups are trying to make money off you - they may or may not deliver what they say regardless of how much you pay. Again best to find a way to give it away, pay someone privately a small amounr such as the closing to take it or otherwise you can easily be out hundreds or even thousands of dollars and still end up responsible via the estate.

Remember if the Association refuses to take a deed back ultimately they will most likely turn to foreclosure if you/she refuses to pay the fees. While there may be a hit on her credit if that happens does it really matter? If not wait them out and once they realize it will cost them to foreclose they may see the deed back as a much preferred option. Good luck.

 

[ace2000]

Why do we see so many of this type of posting? They almost always seem to have no previous background on TUG when they post. And they always get the same type of replies. Anyone know?

 

[AwayWeGo]

Human Nature. (Not That There's Anything Wrong With That.)

Why do we see so many of this type of posting? They almost always seem to have no previous background on TUG when they post. And they always get the same type of replies. Anyone know?

I suspect it's easier just to sign up & ask away than to mouse & click around the site seeing what's already here, even in the Stickies.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[ace2000]

I want to clarify, I really don't mean any disrepect to the author of the original post. I see so many of these about 'this or that' company, and am curious if there could be some kind of ulterior motive involved. Probably not...

To the OP, if you are new, you'll learn a ton of info on this site and welcome to the group!

 

[chris649]

Thanks all so far. It's a fair question about why we, as new members, pose these questions. Firstly the death was just last month, we knew nothing of time shares before then. Secondly, we've spent literally days looking in this and other forums for a solution. Lots of people in dire straits, no concrete solutions that work for us, we're beginning to think. We see hundreds of "red" weeks selling for a dollar on ebay, Tug, and wherever. Does anyone think a white, week 6, one bedroom has any chance at all? Honestly?

We realize its an uncomfortable subject for people that enjoy this pastime, and will ultimately be faced with higher MF's. For this we really do not feel good. We are just hoping someone has had some experience with these LLC's, good or bad. Or if someone can give us a viable alternative.

Given my mother's mental state after the death, I don't think having credit agencies calling her is a good idea, so defaulting does not look great. I know some will respond that she got herself in and that's her problem, but ultimately, if what we read about estate chasing is correct, it will be ours in the not to distant future.

Again, sorry to bring up an unpleasant thread.
-Chris

 

[timeos2]

We realize its an uncomfortable subject for people that enjoy this pastime, and will ultimately be faced with higher MF's. For this we really do not feel good. We are just hoping someone has had some experience with these LLC's, good or bad. Or if someone can give us a viable alternative.

Again start with the deed back offer. You might be surprised. Don't assume anything.

The annual fees may look CHEAP compared to what it costs you if you try to go the PCC or LLC path and it doesn't work out as you expect. Put the effort in if you really want to be rid of it as thats the only way anyone - including those usually sham companies - actually do get it out of your mom's name and responsibility.

There are plenty of threads here about people who have paid THOUSANDS and had the unit still be in their name! Don't fall for that trick.

 

[AwayWeGo]

You Typed A Mouthful.

There are plenty of threads here about people who have paid THOUSANDS and had the unit still be in their name! Don't fall for that trick.

Chris 649, there are plenty of ways of getting snookered on timeshares that you've got to guard against.

Click here for a nightmare scenario illustrating multiple overlapping layers of timeshare hornswoggle & bamboozle out there waiting to get you.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[e.bram]

An attorney who posts regularly on another thread recommended putting the TS in a Trust. This will remove your(or your mother's) personal liability if in the future a financial situation makes paying MFs inconvenient or impossible.