The Timeshare Tourniquet

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

....This is where the disposal companies come in, For a sizable fee they will arrange for the transfer of your timeshare to someone else.

Or in some cases, just collect from you and not transfer the property, bringing the liability back home to you who now is a few bucks shorter.

[chriskre Super Moderator Find all posts View Profile Close chriskre]

6. Postcard Companies.

7. Give them to someone who might want it for free.
Yeah you might have to give them a free vacation incentive but it does work.
I've done it, you can too.

8. List it on ebay with a free vacation.
Yeah I've done that too. Not for me but for a friend.
We got rid of her Orlando week with a free vacation.
So it cost her $700 in MF's but was cheaper than using a PCC.

So you don't have to just give it to a dead person or walk away.
Try giving it away. Just cause you hate it doesn't mean the next person will.
They may be thrilled at the idea of owning a vacation place.
You'd be surprised.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

That caveat being, missed by some, but stated eight times, that one has done the best they can to try to give it away, with additional incentives, but that has failed.

That is what this thread is all about, helping those who have tried, but can't even give them away.

Nine times now.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

C'mon Jim, there must be another sucker out there. If you spent as much time trying to get rid of it as posting about it , it would probably be gone by now. I think you like playing the poor downtrodden loser.

[ronparise Senior Member Find all posts View Profile Close ronparise]

C'mon Jim, there must be another sucker out there. If you spent as much time trying to get rid of it as posting about it , it would probably be gone by now. I think you like playing the poor downtrodden loser.

Yea...I get the sense that he knows the answer and this thread is a test for the rest of us.

[chriskre Super Moderator Find all posts View Profile Close chriskre]

Yea...I get the sense that he knows the answer and this thread is a test for the rest of us.

He just loves to.....

Welcome to TS4M's.
Glad you finally joined us.

[easyrider Senior Member Find all posts View Profile Close easyrider]

The real deal for older people stuck with timeshare contracts is called " ESTATE PLANNING". After a certain age you may not need a high credit score and the game changes to preserving your wealth.

1. Create a trust. Place all your valuable assets in your trust. Leave your liabilities out of the trust. The valuable in the trust are now somewhat shielded from the liabilities.

2. Let the timeshare contract holder know that you are personally impoverished and that they can have the contract back now for free or they can spend funds to pursue this. Either way they won't see anything from you.

3. Now that your impoverished you can offer to accept other peoples timeshare contracts if they gift you the contract with mf for a couple of years and enough funds to travel to the resort a couple of times. You end up with a gift basically worth 2 mf ( $1600) and travel expense ( $2000 - $3500 ). You have two years to dispose of this property and if for some reason you can't , you go back to line 2 and call the contract holder to let them know there is an issue.

4. Suddenly you realize your now a part time timeshare reseller like JLB.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

The real deal for older people stuck with timeshare contracts is called " ESTATE PLANNING". After a certain age you may not need a high credit score and the game changes to preserving your wealth.

1. Create a trust. Place all your valuable assets in your trust. Leave your liabilities out of the trust. The valuable in the trust are now somewhat shielded from the liabilities.

2. Let the timeshare contract holder know that you are personally impoverished and that they can have the contract back now for free or they can spend funds to pursue this. Either way they won't see anything from you.

3. Now that your impoverished you can offer to accept other peoples timeshare contracts if they gift you the contract with mf for a couple of years and enough funds to travel to the resort a couple of times. You end up with a gift basically worth 2 mf ( $1600) and travel expense ( $2000 - $3500 ). You have two years to dispose of this property and if for some reason you can't , you go back to line 2 and call the contract holder to let them know there is an issue.

4. Suddenly you realize your now a part time timeshare reseller like JLB.

Can I assume that you have taken these steps, and are holding your timeshares in your Trust?

[SallyHoover Senior Member Find all posts View Profile Close SallyHoover]

Can I assume that you have taken these steps, and are holding your timeshares in your Trust?

No you hold your timeshare out of the trust and put the good things in the trust.



I SHOULD do some estate planning but I keep putting it off.

[easyrider Senior Member Find all posts View Profile Close easyrider]

No. You wouldn't place a worthless item like a timeshare in your trust. The timeshare stays as your personal property. The trust is created to impoverish you to a point because the trust contains all of your assets. Your personal property is what is left for your "last will and testament" or probate.

Also, on your timeshare disposal methods you forgot to add people planning a bankruptcy. You could give your timeshare to a person going bankrupt, most likely with a cash gift.

[easyrider Senior Member Find all posts View Profile Close easyrider]

I SHOULD do some estate planning but I keep putting it off.

Me too Sally. I have a plan that will go in to effect in a few years. It does include the use of a trust.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

No. You wouldn't place a worthless item like a timeshare in your trust. The timeshare stays as your personal property. The trust is created to impoverish you to a point because the trust contains all of your assets. Your personal property is what is left for your "last will and testament" or probate.

Also, on your timeshare disposal methods you forgot to add people planning a bankruptcy. You could give your timeshare to a person going bankrupt, most likely with a cash gift.

I knew I said that wrong when it was too late to re-say it.

Let me try again.

Have you done the things you outlined? Do you have a trust? Are you "impoverished" except for the assets in your trust?

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

7. Give it to someone planning a bankruptcy, probably with a cash gift to them.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Guest 04:52 PM Viewing Thread
The Timeshare Tourniquet

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Can anyone think of any problems that might come about from transferring ownership to an LLC? The LLC has been around awhile, and it's only assets are a couple hundred dollars in a checking account. One week is already titled in its name.