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Getting out of a timeshare?
Posted on 2/19/18 at 7:03 pm
Posted on 2/19/18 at 7:03 pm
Folks have a time share, have put me in charge of helping them get out of it (Silverleaf resorts I believe). Any body have experience getting out of a timeshare? I see lots of "companies" that specialize in this, but they all have sketchy reviews... Even the one Ramsey recommends. Any help/tips are greatly appreciated - thanks.
4
Posted on 2/19/18 at 7:11 pm to Fbohn1
Sell it for $1, take the loss and let someone else take on the maintenance fees.
Posted on 2/19/18 at 8:25 pm to Fbohn1
My parents are in the same boat. Try to sell to the eldest member of your family for $1 and offer to continue making the payments for them. When that person dies, the heirs can (and should) refuse to take possession of the time share. That’s the only way I’ve heard to get out.
Posted on 2/19/18 at 8:36 pm to Larry Gooseman
lol that's pretty morbid
Posted on 2/19/18 at 8:46 pm to Bonjourno
They transfer with a will and you children (or heirs) are stuck making maintenance payment if they don’t know any better. My parents bought from my grandparents to help with their cash flow. They looked at selling it back to have same situation as I described, but it didn’t materialize.
Posted on 2/20/18 at 3:59 am to Fbohn1
Find a good arsonist.
Posted on 2/20/18 at 6:31 am to Fbohn1
You will likely need an attorney. There are some law firms that only do timeshare work
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