When you buy a timeshare you’re buying an interest in a vacation property. To buy a timeshare you usually have to pay a down payment and then monthly payments. As an owner of a timeshare you usually have a right to stay at a participating property for several weeks throughout a year. But be aware, it’s difficult to sell a timeshare. Some people give timeshares to charity. Learn about timeshares here.
Timeshare Horror Story
Timeshare Horror Story Inheriting a timeshare caused family drama after niece and nephew demanded a share of the sale. Q: My parents purchased a timeshare with a floating week in a nearby town many years ago. One of the nicer aspects of the timeshare was that if your name was on the deed, you and [...]
Getting Rid of a Timeshare Property
Options on Getting Rid of a Timeshare Property. Q: This is a comment regarding your article on getting rid of timeshare properties several months ago. I have two bits of information for disillusioned owners. Two of the major timeshare companies have a process where they can assist you in disposing of your timeshare ownership. Vistana [...]
Timeshares and Estate Planning: Is Probate Necessary?
We recently received a letter in response to one of our readers who wondered whether the timeshare owned by a parent would become the reader’s responsibility after the parent’s death. This is what this person wrote (The letter has been edited for clarity and space). Q: You recently ran an article from a reader who [...]
What Happens to My Timeshare After My Death?
What happens to my timeshare after my death? Scammers will try to convince you that your children will be responsible, but is that really the case? Q: I just read your article about considering fees and finances before inheriting a timeshare. As a timeshare owner who cannot sell or give his timeshare away (because, as [...]
Is a Free Timeshare a Gift or a Problem?
Is a Free Timeshare a Gift or a Problem? When someone gifts you a timeshare, there are a lot of problems that come along with it. Q: I found a lady on Facebook from my town who owns three timeshares. She is retiring in 2019. She can’t sell one of her timeshare units and she [...]
Buying a Timeshare: Is a Timeshare a Good Idea?
If buying a timeshare, you should ask why a timeshare is a good idea. If you invest in timeshares you may have problems with selling in the future. Q: My wife and I are looking for more ways to reduce our taxable income. Is buying a timeshare these days a good idea and can it [...]
How to Get Rid of a Timeshare
Getting rid of a timeshare can be a tricky business. Follow the advice below to sell or otherwise get rid of your timeshare and avoid timeshare scams. Q: I am successfully retired after making very good personal money decisions for 50 years. I think I’ve only made 3 huge mistakes: I did not buy Home [...]
Inheriting Timeshares: How to Avoid an Inherited Timeshare
Inheriting timeshares and how to avoid an inherited timeshare. As part of estate planning, inheriting timeshares should be considered in order to avoid undue hardship. There are many benefits and obligations associated with timeshare ownership and inheriting timeshares. Fees and maintenance can make executors want to learn how to avoid an inherited timeshare. Passing property ownership through estate planning can make inheriting timeshares a burden depending upon the executor's wish to avoid an inherited timeshare.
Signing Quit Claim Deed Removes Late Wifes Name From Title
A woman married to a widower wants to put her name on the title of her husband's home and delete his late wife's name. She can add her name to the title using a quit claim deed. But, because the home is pre-marital property, the husband may not want to add his wife to the title so the property can be passed down to his heirs.
Timeshare Companies Facing Financial Trouble
Timeshare companies are affected in this poor real estate market, too. If you have an interest in a timeshare, you have a responsibility to pay your monthly maintenance expenses, real estate taxes and other fees associated with the timeshare. While the timeshare developer or the timeshare operator might have filed for bankruptcy protection, your financial obligations will continue.