Getting rid of a Timeshare

[Lee B]

Elderly client has an older, not that desirable, timeshare that she paid $ 10,995 years ago.

Now she just wants to avoid the $ 900 a year maintenance fee.

The timeshare management company hasn't been helpful.

She talked to several firms about donating the timeshare, but wasn't comfortable with the associated fees.

Is there a way to just give the timeshare back ?

 

[Abby Normal]

Just write a letter saying she's abandoning it. Those things are worthless. The management company may have a form.

[JohnH]

She should ask the management company how they handle this.  Most timeshares are so worthless that some management companies will take them back free (or maybe charge a reasonable fee), so they can try and hawk them to some other unsuspecting soul.  At least when the company does that, they decrease the risk of an "owner" who just stops paying. 

[BLACK BART]

I don't think it's that easy to get out of them. The catch is that buyers sign contracts agreeing to pay a monthly "maintenance fee" for an unlimited period of time.  Apparently it can go on for years. People can't get out of the contract and the TS company sues, turns it over to collection agencies, and ruins their credit.

I almost got into one several years ago - a mailing offered some cash and free days in a Branson hotel to attend an "information seminar." I thought it would be a short film in a group setting. Uh-uh. A dozen salesmen in spiffy sharkskin (appropriate attire) suits appeared and one told the receptionist, "Don't send me any more farmers from Iowa" (he apparently wanted high-rollers only). They took couples to separate rooms and began a high-pressure (fire-hose strength) spiel beginning with a $20K deal that reduced in $2K increments all the way down the keyboard to $900 wherein we and another couple jointly bought a one-week stay at a swanky place there in town.  Luckily, that was the only thing for sale that didn't involve a TS contract with maintenance fees.  Actually they made the TS sound so good that I wanted to buy one, but was saved from this lunacy by my wary wife who said "$10,000? Are you nuts?" 

Around town later we saw an office with a huge sign advertising: "CAN'T GET OUT OF YOUR TIMESHARE? WE CAN HELP!"  According to the article below many of those companies are crooks too and there are lots of "J.K.Harris" type operations scamming those who have already been scammed once by the TS guys. 

http://community.lawyers.com/forums/t/89938.aspx

[Max W]

Most Time-shares can be sold on the secondary market.  

This is one company that does that. Some are disreputable, but this one looks like it might be OK.  Would certainly do a little more checking.

http://www.webuyandselltimeshares.com/

[taxxcpa]

I get emails all the time about my timeshare and I don't even have a timeshare

[RitaB]

4 hours ago, taxxcpa said:

I get emails all the time about my timeshare and I don't even have a timeshare

Works out great when we don't take vacations! 

[Catherine]

I bought a timeshare week in the early 80's -- but with a smart group that is owner-owned and operated (phew; lucked out and didn't know it at the time!).  We love our annual vacation there, know just what to bring with us and to expect from the unit.  Annual maintenance is about 1/3 what it would cost to rent anywhere in the area, and it's drivable distance from home.

Lots of them are not good places - but I lucked out and know some others who are happy with theirs, as well.

[grmy2h]

She could try Timeshare Users Group.  TUG.  Www.tug2.net.  They buy, sell, trade timeshares.