Anyone successfully got out of their timeshare?

[Kitaman]

Its no longer something we need to own. It was great with the kids and all, and we have taken advantage of the swap feature, but its just my wife and I now.

After 25 years, we simply don't want it anymore and are tired of paying the maintenance fee for something we are not using. We keep banking our weeks proving that fact.

I have weeks, but have experienced better internet deals without the long term contract.

I hear and see commercials of time share brokers but am skeptical. Looking to break even, or even take a loss. The Berkshires is a nice location so there is some value (I think).

 

[nomar]

we have taken advantage of the swap feature, but its just my wife and I now

No, sorry (although I'll be inheriting one, so I'm going to need to figure it out), but you've got yourself a nice new signature there

 

[Hoophound]

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timesharecancellations.com

I hear these guys advertising on satellite radio daily.

 

[TRest]

My wife had one before we were married, and at some point we were getting no value out of the swaps, etc. The timeshare had try to convince everyone to convert their week into an actual ownership interest, just before they started replacing roofs etc and wanted everyone to pay for it. We declined, as the original deal was just for the use of the timeshare for a week each year, not actual ownership, really a lease. As there was no value in trying to sell it, we just surrendered the week and walked away. No regrets, we were paying well over 2k a year for a place that wouldnt rent for that otherwise.

 

[J187Money]

Hear lots of ads for the timeshare cancellation folks - you will probably need to pay someone to help you get out. I have one in Mexico (Cabo) - but I'm super happy with it. With these sorts of things you really have to assess what you want and if it is worth it or not. I know I can get out of mine pretty easily (at a loss, but there is demand at my resort). So I feel pretty good about it.

 

[buddy]

I was able to get out of one in Florida by using one of those agencies, but it cost a couple thousand. It was an ownership interest as we had a deed and had to pay taxes.

 

[StllH8L8ner]

My wife had one before we were married, and at some point we were getting no value out of the swaps, etc. The timeshare had try to convince everyone to convert their week into an actual ownership interest, just before they started replacing roofs etc and wanted everyone to pay for it. We declined, as the original deal was just for the use of the timeshare for a week each year, not actual ownership, really a lease. As there was no value in trying to sell it, we just surrendered the week and walked away. No regrets, we were paying well over 2k a year for a place that wouldnt rent for that otherwise.

Exactly my situation. Ours was paid off and we hadn't used it since 2011 bc we had kids, bought house, etc so we were paying maintenance fees every other year which went from $700 to $1500 that we never used. Ours was in Cabo.

I called Lonestar and they quoted me $4400 to get me out which was a bit more than I was willing to pay.

I basically sent the timeshare a letter saying it's no longer viable for us, it was nice having it but doesn't work for us now, it's not you it's me, etc but in summation, we are not paying anymore and will forfeit our points. There was some back and forth for a while but they eventually stopped contacting us and there was no hit to my credit. They throw around a lot of legal jargon but ultimately it's like cancelling a gym membership.

 

[huskiesouth]

Different answer depending on where timeshare is located, in US or no?

 

[uchusky32]

No, sorry (although I'll be inheriting one, so I'm going to need to figure it out), but you've got yourself a nice new signature there

Same here. Will be inheriting one. Orange Lake Orlando.

 

[NJHusky]

Same here. Will be inheriting one. Orange Lake Orlando.

If you don't want it you don't need to take it..I believe you can renounce the inheritance of the timeshare

 

[Kitaman]

Different answer depending on where timeshare is located, in US or no?

Berkshires Massachusetts

 

[8893]

If you don't want it you don't need to take it..I believe you can denounce the inheritance of the timeshare

*renounce

Although you can certainly denounce it, too.

 

[nomar]

Same here. Will be inheriting one. Orange Lake Orlando.

Aruba. I think it's one of the more popular ones so maybe we can unload it for some cash.

 

[NJHusky]

Its no longer something we need to own. It was great with the kids and all, and we have taken advantage of the swap feature, but its just my wife and I now.

After 25 years, we simply don't want it anymore and are tired of paying the maintenance fee for something we are not using. We keep banking our weeks proving that fact.

I have weeks, but have experienced better internet deals without the long term contract.

I hear and see commercials of time share brokers but am skeptical. Looking to break even, or even take a loss. The Berkshires is a nice location so there is some value (I think).

My wife was able to get rid of one her father owned by talking to the resort. They basically agreed to take it back. We didn't get any money for it but it didn't cost anything to get rid of it either.

 

[NJHusky]

*renounce

Although you can certainly denounce it, too.

umph...fat fingers lol

 

[Edward Sargent]

Ours was through Marriott. We had a time share in the Custom House in Boston when our kids were in school and it was great. We traded our 2 weeks in Boston for two weeks in Myrtle Beach when we retired and moved to Florida. That process was very easy but we never stayed in the timeshare in 10 years! Last year we sold it through Marriott we made no money on it though.

 

[huskeynut]

We had two time shares - The Manhattan Club in NYC and Los Abrigados in Sedona, AZ. We did get rid of both. We had to hire a company to get us out. It cost some but not as much as those yearly payments.

 

[TheChamps990411]

Its no longer something we need to own. It was great with the kids and all, and we have taken advantage of the swap feature, but its just my wife and I now.

After 25 years, we simply don't want it anymore and are tired of paying the maintenance fee for something we are not using. We keep banking our weeks proving that fact.

I have weeks, but have experienced better internet deals without the long term contract.

I hear and see commercials of time share brokers but am skeptical. Looking to break even, or even take a loss. The Berkshires is a nice location so there is some value (I think).

Yes. Through the front door.

 

[Waquoit]

Ours was through Marriott.

In-laws have theirs through Marriott and it's the one happy story I ever heard. They always trade it in and have seen the world. And because their original has 2BR, the trade has to provide the same or it's 2 rooms. They take friends! We made the Napa Valley trip.

 

[Fishy]

"Dear Time Share Manager:

Although I and my entire family currently have the Corona virus, we do not want to lose out on our yearly stay at your facility....so all nine of us will be coming! Get yer mask ready lol lol!

Looking forward to seeing you unless an alternative arrangement can be worked out."

 

[Improviser]

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timesharecancellations.com

I hear these guys advertising on satellite radio daily.

I sold mine in St. Marten, maybe 20 years ago at a loss of course. I researched how much it cost with the yearly maintenance fee plus the plane fare, VS.. booking an air and hotel package even at the same resort. It cost less with the package. Plus, Time Shares falsely tout that you can switch your week through REI to book at another timeshare in another island. I tried 4 months before to do that and no rooms available through the exchange. You see, there are VERY LIMITED exchange rooms. DO NOT EVER BUY ONE! Then, like a condo, if the finances are sagging, they up your maintenance fee.

 

[huskiesouth]

Berkshires Massachusetts

I had four weeks of a timeshare in Puerto Rico, fees were going through the roof, I told them thanks but no thanks, stopped paying annual fees, they threatened my credit, told them have at it, nothing happened haven’t heard from them in years.


Might be worth the expense to consult with an experienced real estate law attorney in Pittsfield or Springfield to see what your legal obligations are and what options you have, never used any of these services that offer to help you get rid of a timeshare, they all wanted to be paid upfront with no guarantee of a positive result.

 

[Watchdog]

Friends in Florida told the timeshare people at their place in Cabo that they were walking away. They were threatened, initially, but then the place backed off and the friends ate the $25-30,000 loss and walked away.

We've had two Marriott weeks (Vegas and Scottsdale) and had great trades for fifteen or more years. Then they started pushing the points system and five years ago we couldn't trade for a decent week. So we paid the basic fee (about $600) to join the points program and have been able to use the points for long stays and short stays and will probably keep them another five or ten years. Marriott will buy them back, but only at about half what we paid based on what a friend experienced selling back his Customs House week.

 

[buddy]

I sold mine in St. Marten, maybe 20 years ago at a loss of course. I researched how much it cost with the yearly maintenance fee plus the plane fare, VS.. booking an air and hotel package even at the same resort. It cost less with the package. Plus, Time Shares falsely tout that you can switch your week through REI to book at another timeshare in another island. I tried 4 months before to do that and no rooms available through the exchange. You see, there are VERY LIMITED exchange rooms. DO NOT EVER BUY ONE! Then, like a condo, if the finances are sagging, they up your maintenance fee.

I was never able to successfully book a timeshare anywhere through REI over years. Not worth it but any means. Cheaper and better to just go to a nice hotel.

 

[Improviser]

If you don't want it you don't need to take it..I believe you can renounce the inheritance of the timeshare

See a probate attorney. I believe you can disclaim an inheritance within a certain time period.