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OK...here's an idea

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  • OK...here's an idea

    What happens if you transfer the deed of the TS to someone who is about to pass away?

    When they do the TS can be refused as an inheritance using an affidavit of disclaimer of interest.

    Viable option?

  • #2
    Sounds rather morbid and desperate.
    Lawren
    ------------------------
    There are many wonderful places in the world, but one of my favourite places is on the back of my horse.
    - Rolf Kopfle

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    • #3
      I have more than once thought about transferring a timeshare deed to someone I don't like anymore...
      Jacki

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      • #4
        Maybe morbid......

        ....but is it viable?

        I have been looking into TS outs for a year now and have basically come to the conclusion that we have ZERO rights or outs!

        I know it sounds bad....but!!!!!!!!!!!!!!!!!!!!

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        • #5
          I've always heard that if you own timeshares in other states, you have to go through probate in those states. If this was still required just to clear up the estate and release the assets, it could become a big mess.

          Sheila

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          • #6
            Probate can easily cost $1,500 to $2,000.
            WSJ: What is Probate and How Does the Process Impact Timeshare Ownership?

            Another big issue is the intent to defraud would likely give the resort ample opportunity to simply decline the ownership change. Don't forget, that the most important part of the transfer process is simply the resort "accepting" the change of ownership. Most resorts have realized that they have a problem with transfers to nowhere, so have an employee whose sole job is contacting potential buyers and performing simple discovery to ensure they are are willing and able buyer.

            The other moral issue with your proposal is that what would actually happen if you were successful is you would saddle the other paying timeshare owners with your debt and obligation. It's not the developer who pays for defaults and foreclosures, it is the association made up of paying owners. By abandoning your week, you are increasing the burden on everyone else.

            What I would recommend is simply to do the right thing and locate a willing and able taker for your ownership (even though that is very difficult). Place a freebie ad here or on other cheap online classifieds, or use a brokerage with no upfront fee to try and liquidate it. Be sure to always contact your resort management company to determine if they have any type of liquidation or deed back program.

            Good luck!
            my travel website: Vacation-Times.org.

            "A vacation is what you take when you can no longer take what you’ve been taking."
            ~Earl Wilson

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