Word of Advice: Selling for Free

[SleepySloth]

Hi TUG.

Im very happy I discovered the forum today, yet I wonder if I could get an advice from the community.

Context: My family and I made a trip in 2015 to Cancun (Mexico), which lead to the "unwanted" buy for timeshare in a resort. After years of frustration (we never used the time share, we are too far from Mexico), we are still hunted by the yearly maintenance fee.

Please Advise: Im looking forward to sell or transfer ownership of our timeshare for free (all has been paid out, the initial investment was 30K USD). Only the yearly maintenance fees exist, which cost around 900 USD.

Is this something that could be done in tug.net? If selling / transfering for free, how fast could the process take?

 

[LannyPC]

The biggest piece of advice we usually give here on TUG is to not pay any of these firms that claim they can get you out of your TS or contract unscathed. Those are usually scams.

You can list your TS for give away here on TUG's Bargain Deals section. Just make sure your MFs are paid up to date.

The other suggestion is to just stop paying your MFs and let the resort terminate your membership. With Mexican timeshares like yours, it is probably just a right-to-use or membership. You can let it lapse. We have threads here on TUG documenting people in positions like yours who have just stopped paying MFs and what happened to them. Usually the consequences are minimal.

 

[SleepySloth]

Thank you for taking the time for answering me @LannyPC, I appreciate the advice.

 

[bogey21]

The other suggestion is to just stop paying your MFs and let the resort terminate your membership. With Mexican timeshares like yours, it is probably just a right-to-use or membership. You can let it lapse.

Don't complicate things. If yours is an RTU, just stop paying. ignore all collection calls and your Week will eventually go away.

George

 

[Karen G]

Here is the forum where you could list your timeshare to give it away: https://tugbbs.com/forums/forums/free-timeshare-giveaways-and-bargain-deals.55/

Since Mexico timeshares are RTU (Right to Use) there is no deed like US properties usually have. Therefore, the transfer of ownership is normally handled by the resort.
Contact the Member Services dept. of your timeshare and ask them what their procedure is. Typically, there is a place for you to sign on your certificate of ownership
transferring your ownership to someone else. A transfer fee is usually collected, too.

If your timeshare has a Facebook page for owners, you might be able to post a message there that you want to give away your membership.

 

[SleepySloth]

I believe I have an idea of what to do now.

Wanted to leave some words of appreciation for you in this forum, the world need more people like you (seeking advice in regards TS is already too hard, full with people wanting to take advantage). Thank you for maintaining and documenting everything in this site, I really really appreciate it.