Timeshares
in an Estate
After many years of enjoyment from vacationing with
his timeshare an elderly gentleman unfortunately passes away. In his will he has left the timeshare to his
children. After careful consideration
none of the children are willing to take the timeshare due to financial
concerns and an inability to maintain the yearly fees. The family contacted the resort with hopes
that they may buy the timeshare back.
However, the company does not wish to purchase the timeshare. Questions arise about how to get rid of the
timeshare without costing the family money? Can they deed the timeshare back to the
resort? What happens if they default on
the timeshare, after all it isn’t theirs right? Many questions arise when a timeshare is left “hanging”. So what happens next?
First, make sure you told the resort that the person
who owned the timeshare is deceased.
This may persuade the company to rethink their decision to buy the
timeshare back. The resort may take the
timeshare back for a fee as well as the yearly maintenance fees. This is something that you would need to work
out with the resort.
Second, visit a reputable timeshare resale company
who will list your timeshare for fee.
Look for a site that has licensed brokers. There are many sites available but I highly recommend
www.timesharebrokersmls.com as
they will not charge any fees for listing the timeshare.