Timeshares are a nightmare for heirs. I always warn my estate planning clients

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Feb 26, 2024
3:24:02pm

VenturaCoug Starter

Timeshares are a nightmare for heirs. I always warn my estate planning clients

of this when they own timeshares.

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VenturaCoug

New username: RBLegend
Bio page: VenturaCoug
Joined: Oct 1, 2014
Last login: Sep 25, 2024
Total posts: 0 (0 FO)

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Messages

Author

Time

Anybody get out of a timeshare? Sold or gave away? My dad is begging me to help

Chasicle

Feb 26, 3:11pm

Redweek is a good way to sell them.

macdizzle

Feb 26, 3:12pm

works great. This is how I've bought two HGV contracts from owners.

Mayor of Cougartown

Feb 26, 3:54pm

This has become a huge point of contention between my wife and her dad.

RalphWiggam

Feb 26, 3:20pm

Timeshares are a nightmare for heirs. I always warn my estate planning clients

VenturaCoug

Feb 26, 3:24pm

Where do they own?

Travelhacker

Feb 26, 3:38pm

Newport coast villas. It’s a nice property. But I always check when we go and I could easily just pay for a week as a

RalphWiggam

Feb 26, 3:42pm

It can't be anywhere near $200K over 15 years unless they own multiple developer

Feb 26, 3:54pm

You very well could be right. I don’t know. I know they bought 3 weeks and I assumed the annual fees were $2000 a year.

RalphWiggam

Feb 26, 4:00pm

If they bought 3 weeks and "upgraded" to the points system, then the $200K could

Feb 26, 4:13pm

RE: Newport coast villas. It’s a nice property. But I always check when we go

Travelhacker

Feb 26, 3:59pm

Why not do a 3 way call with your wife on the line? FIL identifies himself as owner, he introduces the daughter and she

CLCougar

Feb 26, 4:20pm

Marriott has great owner training classes your wife could attend with dad

NYC and Japan

Feb 26, 5:15pm

Try this site as well

OmahaOmaha

Feb 26, 3:22pm

I've picked up two from people who basically gave them away. Unless it's a really cool resort, no one buys them on

Feb 26, 3:23pm

This is what I usually recommend for clients.

VenturaCoug

Feb 26, 3:25pm

Just stop paying the maintenance fees.

Idacoug

Feb 26, 3:25pm

I’m not sure this is good advice.

El Fuego

Feb 26, 3:28pm

Definitely not good advice lol.

Mayor of Cougartown

Feb 26, 3:56pm

Worked for me.

Idacoug

Feb 26, 4:46pm

That's bad advice. It will certainly be reported to credit bureaus.

Feb 26, 3:55pm

It’s not. Because I did it.

Idacoug

Feb 26, 4:45pm

Watch out for scammers. One of the Mexican cartels has a ton of resources

VenturaCoug

Feb 26, 3:30pm

RE: Anybody get out of a timeshare? Sold or gave away? My dad is begging me to

Travelhacker

Feb 26, 3:33pm

This was a major part of my legal practice when I lived in Orlando.

Surfrider

Feb 26, 3:34pm

Yes, I went with The Newton Group. Basically you pay them to sell it for you and then you pay the seller.

Qhall

Feb 26, 3:39pm

I’ve owned a WorldMark membership for 16 years and still love it. Right now my family has 3 rooms at Disneyland for

Cougar-Duck

Feb 26, 3:41pm

The key is location and season. If you own high season at Marriotts/Westins

Feb 26, 4:07pm

Thanks, all! I'll try to get some info from my dad.

Chasicle

Feb 26, 5:04pm

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