How Can Timeshare Maintenance Fees Be Eliminated?

The only way to get rid of your timeshare maintenance fees and the other special assessment fees altogether is to

get rid of your timeshare

. Because as long as you own the property, there’s really no way to end the yearly onslaught on your bank account.

Can I just walk away from my timeshare?

You can’t just walk away from a timeshare

. That’s because they often come with an obligation to pay maintenance fees for as long as you own them.

How can I get rid of my timeshare legally?

1. Contact the Resort. Some resorts may have their own timeshare exit programs. …
2. Find a Buyer. …
3. Rent the Timeshare. …
4. Give It Away. …
5. Deeded Timeshare Donation. …
6. Timeshare Contract Loopholes. …
7. Timeshare Exit Team. …
8. What Not to Do.

What is the average cost to get out of a timeshare?

Costs to Get Out of a Timeshare

On average, it costs about

$5,000 to $6,000

and takes 12–18 months to get out of your timeshare contract using a timeshare exit company. But the cost and the timeframe can vary depending on a number of factors including, how many contracts are attached to your timeshare.

Do timeshare companies take legal action?

The short answer?

Yes. Resort developers can and do take financial and legal action against timeshare owners attempting to leave their interest

. However, they may not pursue these strategies as aggressively as some consumers may think.

Can I sell my timeshare back to the resort?

Can you sell your timeshare back to the resort?

Yes, under certain circumstances

. However, most of the timeshare community is on their own if they want a way out. Your last resort options are selling it yourself or receiving help from a trusted timeshare cancellation company.

How do I write a letter to cancel my timeshare contract?

1. Get your cancellation request in writing. …
2. Include a clear request to cancel your timeshare. …
3. List all the important details. …
4. Set expectations. …
5. Send all correspondence by certified mail. …
6. Don’t get emotional or long-winded. …
7. Don’t use passive or hesitant language.

Can you refuse to inherit a timeshare?

In short,

yes, you can refuse to inherit a timeshare

. While the laws for rejecting an inherited timeshare can vary from state to state, the actual process will generally be the same and is known as “Renunciation of Property.”

Why is it so hard to get out of a timeshare?

Canceling your timeshare can also be difficult due to

financial reasons

. Resorts are notorious for encouraging people to make a down payment on a credit card. Putting a substantial investment on your credit card is never a wise idea. Your interest rates will skyrocket, and it’ll take you a while to pay it down.

Can I donate my timeshare to charity?

Get Out of Your Timeshare for Good

DonateMyTimeshare.org makes it easy to donate your timeshare to a worthwhile 501c(3) charity and to feel good about getting rid of your timeshare, because it benefits a good cause. Best of all, in most cases,

you can donate a timeshare at no cost to you

.

Can a timeshare put a lien on your house?

If a repayment plan isn’t negotiated, the timeshare company might go the route of taking you to court for breach of contract to get a judgment against you and place a lien against the property. Ultimately, they will foreclose on the property.

How do you forfeit a timeshare?

Give it back:

Contact the developer or resort management

. Tell them you want to quit-deed the property back to them. In other words, you are willing to give away your timeshare in exchange for the future savings of not having to pay your membership.

Can I deed back my timeshare?

A deed back clause or program allows you to give your timeshare back to the resort

. Until then, you remain responsible for paying the maintenance and special assessment fees along with your mortgage payments.

Can I sell my UVC membership?

With our stress-free process,

selling your vacation club ownership is easier than ever

. If your ownership qualifies, you could even receive an immediate purchase offer.

What is the biggest timeshare company?

Wyndham Destinations

(NYSE:WYND), the world’s largest vacation club and exchange company, is on a mission to put the world on vacation.

How can I get rid of my timeshare without ruining credit?

1. Is There a Rescission Period? …
2. Work with a Timeshare Exit Company. …
3. Rent Your Timeshare.
4. Sell Your Timeshare.
5. File Complaints with Regulators and Law Enforcement.
6. Give or Sell It Back to the Timeshare Developer. …
7. Ask your Developer for Help.

How long do you have to cancel a timeshare?

Known as rescission, the period for timeshare cancellation varies by state, but averages only

5-7 days

. Not a lot of time when you’re in full vacation mode, or in the process of traveling home.

Can a timeshare sue you?

In general, though, if you don’t pay the fees and assessments on a right-to-use timeshare,

the HOA may sue you for a money judgment or “repossess” your right to use the timeshare

. A repossession is a different legal process than a foreclosure.

Do heirs have to pay timeshare fees?

The inheritors of the timeshare become the new owners, and

they are obligated to take over the timeshare fees

. If you want to avoid this issue, name your heirs co-trustees of your timeshare. A trust gives heirs the option to decide to keep the timeshare, sell it, or abandon it. It frees them of ongoing or unpaid fees.

What happens to timeshare at death?

However, in the case of an owner’s death,

a timeshare becomes part of that owner’s estate

, and thus, the benefits, investment, and obligations attached to it are passed onto the next-of-kin or the beneficiary of the estate.