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Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 29272
Experience:  Texas Attorney for 29 years dealing in real estate
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How does one get out out of a timeshare contract? It sounded

Customer Question

How does one get out out of a timeshare contract? It sounded good at the time. I was working as an expat overseas and making sufficient money to cover it, but now back home trying to position myself for retirement. I have met the age requirement, but falling short on finacial requirements. I can't afford the time share on social security. The time share is a giant weight sucking me down in ever deeper water.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Ray replied 1 year ago.

RayAnswers :

Thanks for your question and good morning.There are several options with a timeshare here.

RayAnswers :

The first is to contact the timeshare and see if they would agree to a Deed In Lieu.This is where you deed it back and they do not pursue you for anything.Its worth a first try here to unload it.

RayAnswers :

The second option here is to try and donate it.There is at least one time share outfit that does this and has been doing it for awhile.

RayAnswers :

The third options is a sale either yourself using E-Bay or listing it with a timeshare reseller.Resellers are rated by the BBB you want an A++ one to list and work with it.You should not pay any upfront fees but rather a commission only upon closing.Anybody wanting upfront fees should be avoided at all costs.

RayAnswers :

Here is a sample reseller with a high rating.

RayAnswers :

Here is information about doing it yourself on Ebay

RayAnswers :

These are your options here to try and unload it.

RayAnswers :

You may want to start with a Deed In Lieu with the timeshare itself.If they will not agree to a Deed in Lieu then get information about a sale and their requirements for such so that if you find a buyer you can complete the sale here.

RayAnswers :

That is time well invested to see what options are here and go from there.

RayAnswers :

It has been my pleasure to assist you today.Please let me know if you have more follow up.Thanks again for letting me help you and good luck with resolving this matter.

Customer:

OK Thank you. I had considered the first option and drifted away based on their own published comments which amount to a donation back to them if the balance is low. I don't consider my balance low, but I guess don't walk away until you've been turned down.

RayAnswers :

I hope at least one of these will work out for you.Timeshares are real pain thats for sure.

RayAnswers :

I have seen donations, deeds in lieu, and Ebay work out for different people.

RayAnswers :

I hope that you will be so kind as to leave a positive rating. If you do have any additional questions about my answer please click the "Continue Conversation Link" so I can provide you with a fully satisfactory answer. Please be aware that any rating of 1 or 2 is reflected as a negative rating and I receive no credit for my answers.


 


 


This communication does not establish an attorney-client relationship.Information provided here is not legal advice. Rather it is simply general information.

RayAnswers :

Thanks again.If you can leave a positive rating it is much appreciated.Have a great day.

Customer:

Well I don't want to go with 1 or 2 as you definitly don't deserve either 3 is a little intimidating for your resonse as well. I am still left with the contract and not joyfull over that. So I guess I want something between 3 and 4. Since I don't have that option guess I'll just tip the scale your way since you did at least provide more up beat response that what I have been getting. Thank you. You have a great day.

Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 29272
Experience: Texas Attorney for 29 years dealing in real estate
Ray and 2 other Real Estate Law Specialists are ready to help you
Customer: replied 1 year ago.

Ray, I have initiated per you first suggestion. I mailed certified letters to their corporate office and the office where I bought the time share this morning requesting a release from the contract and forfeit any equity I may have. So right now the ball is in their court.

Expert:  Ray replied 1 year ago.
I wish you good luck I hope they will accept it back and release you.They often do this because they can resell it and actually make more money on it.Thanks for the follow up.

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