[ 2012 ] How we FINALLY got rid of our timeshare

[Luvstotravel]

You people kill me...

There's no moral issue here unless it was done with deceit. If all parties discussed this up front what is the problem? Get off your high horses. You guys feel just fine giving it away to some unsuspecting fool on Tug. Talk about morally wrong. I dont see anyone saying what crap it is when they list it in the bargin basement section.

I agree. I never see ads saying, "this is a terrible deal! Buy it and you'll be sorry!":hysterical:

 

[rrlongwell]

I agree. I never see ads saying, "this is a terrible deal! Buy it and you'll be sorry!":hysterical:

That type of info appears in the threads.

 

[AwayWeGo]

Unsuspecting Is As Unsuspecting Does.

You guys feel just fine giving it away to some unsuspecting fool on Tug. Talk about morally wrong. I dont see anyone saying what crap it is when they list it in the bargin basement section.

The timeshare we gave away that had issues (excessive fees) did not go to an individual. We deeded it back to the timeshare resort, with permission & cooperation.

The ones we gave away via the TUG-BBS Bargain Giveaways section were & are OK timeshares. Two were redundant to our needs. One we no longer used the way we intended when we got it. No issues with any of'm.

Same goes for a timeshare we acquired that somebody else offered el freebo via the TUG-BBS Bargain Giveaways section. Prior owner got tired of it. The Chief Of Staff & I pounced on it. No issues there, either.

People are giving away unwanted timeshares because it's quicker & easier to give'm away for nothing than to try to sell'm for next to nothing. That's more of a reflection on timeshare supply & demand under current economic conditions than it is on the quality of some of the timeshares being offered el freebo.

Not everything el freebo is el crappo.

Full Disclosure: We offered all 3 of our giveaway timeshares via the TUG-BBS Bargain Giveaways section, but the the TUG-BBS Bargain Giveaways section was responsible for only 1 completed giveaway. The other 2 giveaways resulted from our ad in eBay Classifieds (formerly Kijiji Dot Com). Those ads got flagged & removed because free timeshares are not totally free, thanks to closing costs, resort transfer fees, & maintenance fees. So we put the ads back on for $1 & soon got takers.

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

 

[ampaholic]

I agree. I never see ads saying, "this is a terrible deal! Buy it and you'll be sorry!":hysterical:

Hey, I think a new trend is emerging here :hysterical:

 

[Egret1986]

Agree with this statement.

Not everything el freebo is el crappo.

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

Gave away four last year. Got 'em cheapo and gave 'em away on TUG. They were prime summer weeks at highly rated resorts with low MFs (except one, which was a July 4th holiday beach week). I decided after buying them that they really didn't fit my wants and needs. Since I picked them up at a low cost, didn't want to take the time and make effort to sell them. Folks were happy to get them and were familiar with timeshare ownership.

 

[naskawara]

The timeshare we gave away that had issues (excessive fees) did not go to an individual. We deeded it back to the timeshare resort, with permission & cooperation.

The ones we gave away via the TUG-BBS Bargain Giveaways section were & are OK timeshares. Two were redundant to our needs. One we no longer used the way we intended when we got it. No issues with any of'm.

Same goes for a timeshare we acquired that somebody else offered el freebo via the TUG-BBS Bargain Giveaways section. Prior owner got tired of it. The Chief Of Staff & I pounced on it. No issues there, either.

People are giving away unwanted timeshares because it's quicker & easier to give'm away for nothing than to try to sell'm for next to nothing. That's more of a reflection on timeshare supply & demand under current economic conditions than it is on the quality of some of the timeshares being offered el freebo.

Not everything el freebo is el crappo.

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

I would like to ask how you were able to deed back your TS to the resort

 

[AwayWeGo]

Didn't Know What They Would Say When We Asked If They Would Accept A Deedback.

I would like to ask how you were able to deed back your TS to the resort

We just called up & asked.

They not only said OK, they even sent a quitclaim deed all filled in for us to sign & get witnessed & notarized & send back.

The rest is history -- although as of last week RCI Points did not know we no longer owned it & would not take our word for it that we don't. So I we called up the resort again & asked that they let RCI Points in on the fact that we are ex-owners.

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

 

[pianodinosaur]

I would like to congratulate OprahtheHutt for unloading his or her timeshare. So, congratulations.

I would be very curious to know what TS the OP owned and at what season.

 

[ullmanesq]

Death...and timeshares

Here is how it works in the real world when you die owning a timeshare.

First...my disclaimer: I'm not giving legal advice, merely telling you how it works in the real world. Also note that not all states work or operate the same way...but often the principals are the same.

If someone dies owning a timeshare deed in their own name, it goes to the Surrogate's Court (or similarly named court) for probate or administration. At some point in the process someone is named as the Executor, who has the authority to act on the assets.

There is a fiduciary duty to identify, verify and pay creditors of an estate, however...there is nothing wrong with trying to reduce those bills to maximize the amount that would go to the heirs. (It would be interesting to see if a claim of fraud about the timeshare would gain traction).

Unlike a house that may have a mortgage and equity, timeshares almost never have loans against them. Assuming they do not, in order for the timeshare operator to enforce their right, the Executor can force them to defend their claim in court. Now, for a unit that might command $1000-2000 in maintance, I cannot believe any timeshare company will hire a lawyer to try to enforce this, especially when the Executor can just offer to tend the deed back to the operator. The cost factor is far higher in their legal fees, and if the timeshare is owned by a trust, they have even greater problems and would have to likely now appear in the court of the decedent, raising their fees even higher.

If there are no real assets in the estate, all the Executor needs to do is offer the deed back....or not, forcing the operator to forclose, (why would they do that? Costs them far more).

If there are assets, only the equity is really involved. Contracts die upon death. All they can seek is the deed and/or the value. When I have seen cars on lease, the companies are delighted to simply get the car back and are more than willing to forgoe any overdue payments from the date of death on.

An earlier thread correctly stated that if someone were to be designated to inherit the timeshare they can "disclaim", no one can force you to accept an inheritance.

The fact is, the Executor has tremendous leverage to simply have the operator agree to take the deed back as the only remedy, even when there are other assets in the estate.

There are 'legal' issues, and their are 'real world' issues. Getting the operator to accept a deed back after the death of the owner, should be easy, with zero paid out for any fees, (probably even those that were currently due).

 

[catcher24]

They just made a bad choice and like so many in this world they don't take accountability and do what benefits them.

Unfortunately, the current generation has learned this is the way to live. Even more unfortunately, they learned it from their government, who will take care of them no matter what stupid thing they do.

I guess if it was a family member but still to tie anything to someone's death is just morbid and distasteful.

I guess that makes life insurance, social security death benefits, wills and anything else that gets triggered by someone's death morbid and distasteful...

 

[Ridewithme38]

Don't blame the current generation 'Strategic Bankruptcy' & 'Strategic foreclosure' have been part of general business for a lot longer then my generation has been around...Trump has been known to do this fairly regularly...

Just because your generation wants to twist a business decision into a 'social contract' doesn't mean it is actually true....If your loses are greater then your gains the smart business decision, that choice that has been around for decades...is to get rid of that loss in anyway possible

 

[AResident]

.......LMAO....

How long before this becomes a morbid MO for PCCs?

Just imagine the late night infomercials:

"Have you been diagnosed with a terminal illness? Do you have less than 6 months to live? If so, you may be eligible for a 1 week vacation at no cost to you! Just contact Final Destinations Timeshares to find out if you qualify!"

 

[elisef10]

TBSH, If a time share is in a revocable living trust along with assets like a home, and the owners of the time share die, can the heirs accept the other assets but decline the inheritance of the time share? You mentioned a trust, but only briefly and I am not sure how that impacts the situation.

 

[Bolen]

Business Opportunity

So, if you are dying you now have a value that heretofore you didn't realize you had. Given the state of Timesharing and the pent up demand to get out from under timeshares no longer used, needed, or wanted, you can offer a service, albiet short term. You can accept ownership of timeshares for a fee. Say $1000 each just to keep the numbers round. This would be an especially useful business opportunity for those without children or heirs.

You can get money to pay off medical bills, or to travel (perhaps a abit unrealistic), or to support your church, or donate to TUG. And you can go to your rest knowing you did a lot of good for a lot of people, caught in a perpetual financial bear trap. Who knows, maybe it will even earn you your wings... (Que the Harps if you please)...

Cheers, Bob

 

[nazclk]

Congrats to the OP

I salute you my friend. Great deed you did by helping a friend out, and he helped you out as well. This was indeed a win win situation.

 

[Numismatist]

I'm sorry this is unethical and in my book pretty immoral that you used your friend's death to your benefit. You made a bad choice in your purchase of the TS and used the imminent death of a friend to get out from your financial obligation and just push the debt onto your fellow owners. And you and others are OK with that? Really?

I'm sorry I'm not some high and mighty person but that would not sit well with my moral compass. No way.

Agree!

It's morally better than paying MFs until the Rapture...

You agreed to that when you bought it.

 

[icydog]

some concurrence!!

Actually, a couple of years back, someone came on these boards because he had an aunt with terminal cancer. He asked if he could give it away to his aunt so that his timeshare obligation would "die" with her.

TUGGERS responded that the aunt's estate would still be responsible for the timeshare. (I didn't bother using the search function)

That's the way I understand it. His friend's family may not think your "gift" as altruistic as the OP does. In fact, they may be cursing him now.

 

[ampaholic]

That's the way I understand it. His friend's family may not think your "gift" as altruistic as the OP does. In fact, they may be cursing him now.

Apparently there was no family involved.

 

[GHT]

Here's why....

Why should a resort just automatically accept a deed back, just because things change and someone can't manage this payments? Since the being of time its always been let the buyer beware. The fact is most of these sales guys aren't acting illegally just doing what every other salesman has done forever.

Here's why.. Because the sales people said that when I'm done using my timeshare I can sell it back to the timeshare company. They said that the timeshare company would take it and immediately mark it up to a higher price to sell it to someone else. That was the explanation the timeshare sales people gave me for how the timeshare business model worked. Just because the timeshare sales people are the biggest liars on earth does not mean it's my fault for paying full freight for my timeshares and am now stuck with them. Their entire TS sales pitches were lies.

They also said I could use the fitness room, jacuzzi, and pool all year round as though it was a fitness club membership I was also getting. However, the timeshare later put locked doors in the way that required an amenity key which you can only get doing your 1-week stay at your timeshare.

They also said I could get "bonus time" at a very low rate whenever a TS week was going to go unused. However, that was before "points" were created allowing the TS industry to sell beyond 100% occupancy, making the bonus time disappear.

They also said that maintenance fees would always be lower than rent-to-the-public fees, so that I could always rent out my week to recover the cost of my maintenance fee if I could not use the timeshare myself. However, nowadays the maintenance fees exceed the rent-to-the-public fees.

The TS sales people are trained by the industry to provide these lies to the public. I doubt they dream these lies up individually on their own. However, being sales people, it does not bother them to repeat the lies over and over to new potential customers, but in my opinion the TS industry is to blame. Their business model is nothing like the TS sales people describe. The true TS business model is based very heavily on deception of the public.

 

[DeniseM]

Here's why.. Because the sales people said that when I'm done using my timeshare I can sell it back to the timeshare company. They said that the timeshare company would take it and immediately mark it up to a higher price to sell it to someone else. That was the explanation the timeshare sales people gave me for how the timeshare business model worked. Just because the timeshare sales people are the biggest liars on earth does not mean it's my fault for paying full freight for my timeshares and am now stuck with them. Their entire TS sales pitches were lies.

While all this may be true, it has nothing to do with forcing the HOA - Home Owners Association, to take back your timeshares. When you default on your timeshare, the other OWNERS have to foot the bill - it has ZERO impact on the developer and sales people, who are long gone. The HOA (you and me) is saddled with the cost of re-aquiring the deed, paying the maintenance fee, and trying to resale it - not the developer.

 

[Carolinian]

Actually, a couple of years back, someone came on these boards because he had an aunt with terminal cancer. He asked if he could give it away to his aunt so that his timeshare obligation would "die" with her.

TUGGERS responded that the aunt's estate would still be responsible for the timeshare. (I didn't bother using the search function)

That is true some places. Estate laws do vary from jurisdiction to jurisdiction.

Many estates are open for more than a year, and m/f's coming due during that time will likely be debts of the estate.

Anyone who thinks this is a good plan needs to get good professional advice on the estate laws that would apply, and that will likely be both where the decedent is/was a resident and the state / country where the timeshare is located.

 

[Carolinian]

While all this may be true, it has nothing to do with forcing the HOA - Home Owners Association, to take back your timeshares. When you default on your timeshare, the other OWNERS have to foot the bill - it has ZERO impact on the developer and sales people, who are long gone. The HOA (you and me) is saddled with the cost of re-aquiring the deed, paying the maintenance fee, and trying to resale it - not the developer.

Exactly right. They aren't screwing the developer, they are screwing their fellow timeshare members, who have to pick up the slack for the deadbeats.

 

[AwayWeGo]

Blurring The Distinction Between Timeshare Company & Timeshare Resort.

While all this may be true, it has nothing to do with forcing the HOA - Home Owners Association, to take back your timeshares. When you default on your timeshare, the other OWNERS have to foot the bill - it has ZERO impact on the developer and sales people, who are long gone. The HOA (you and me) is saddled with the cost of re-aquiring the deed, paying the maintenance fee, and trying to resale it - not the developer.

You typed a major serious mouthful.

Not only are the timeshare sellers apt to be fibbing any time their lips are moving, but the folks who fall for the fibs are apt to blame the timeshare resort when they find out that so much of what the sellers from the timeshare company said turned out to be bushwa.

It's not just tall tales about "investment" & "bonus weeks" & "day use" & "guaranteed buy-back" & "rent out for profit," etc. It's also bogus claims by timeshare sellers that the timeshare company is responsible for resort improvements & upgrades paid for by the regular walking-around timeshare owners & managed on the owners' behalf by the HOA.

Some of the timeshare sellers contrive to plant those ideas in the minds of the full-freight customers without actually making those claims flat-out -- i.e., by weasel-wording & making statements in such a way that non-savvy listeners make exactly the assumptions that the timeshare sellers want'm to make.

Timeshare sellers also like to whip out the RCI & I-I resort directories & use those glossy catalogs to plant the idea without actually saying so that buying what the timeshare sellers are selling will make it possible to exchange into any resort in the book any time the exchangers want to go.

Shux upon'm. (The timeshare sellers, I mean.)

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

 

[Rent_Share]

Many estates are open for more than a year, and m/f's coming due during that time will likely be debts of the estate.

Once the estate is closed the MF's still will go away if disinherited

 

[csxjohn]

Exactly right. They aren't screwing the developer, they are screwing their fellow timeshare members, who have to pick up the slack for the deadbeats.

I still can't understand why you label anyone who is no longer able to pay their MFs a "deadbeat."

There are many reasons why a person may no longer be able to keep up with expenses and that doesn't necessarily make them a deadbeat.

Dictionary dot com defines deadbeat as

1. a person who deliberately avoids paying debts.

2. a loafer; sponger.

Although this may apply to some I believe that many people simply can't pay their MFs. Divorce, medical problems, retirement, and old age just to name a few.

Just because a TS I own now rents to the public for less than my MF does not mean that at the time of purchase it was a bad decision. As more and more people in this same situation stop paying their MFs the units will eventually end up in the hands of the HOA and the other owners will be paying more.

Using your logic, others who bought at the same resort with very desirable weeks also made bad buying decisions because they did not foresee that their fees would be going up due to others at that resort not being able to keep up with MFs.

I do not believe either case is true. Decisions were made when the industry was different and because of the changes, what was true 10 years ago is not true today.

It's time to get off your high horse and realize that just because people can't meet the obligations of their MFs doesn't mean they are deadbeats.