Anyone have experience with timeshares?

I know not to get a timeshare but I caved for my wife(at the time) and we got it. A year or two later we divorced and I was stuck with it. It's paid off and I'm tired of paying the yearly fee of about$500. I've tried selling it. I've asked them to take it back and sell the junk to someone else , I'd just sign it back over to them. Is there any way to get out of the damn thing!?

harryk67 wrote:

Is there any way to get out of the damn thing!?

The first and most important rule in this situation is to never, ever pay anyone a large, upfront fee to sell, rent out, market, or "cancel" your timeshare. That will likely be a scam. It doesn't matter if it is a law firm, charity, or some other outfit with a name attached to it like exit, relief, escape, cancel, etc.

You are in a good position right now seeing that it is paid off and the maintenance fees are up to date. I don't know whom you contacted at the resort asking to take it back. It helps if you contact the right people. Make sure you contact the resort's Homeowners' Association and not just some desk clerk there who answers the phone. Make it clear that you are not going to pay any more money in maintenance fees except maybe to have the resort take your unit back. It would be better for the resort to take your unit back without it going through the rigors and expense of foreclosure.

The other thing you can try is to list your unit for sale or giveaway here on RedWeek. Mention that it is free and, if necessary, you will pay the closing costs and maybe even the next maintenance fee. Timeshare users Group (aka "TUG"; tugbbs.com) has a Bargain Deals section where you can list for free that you want to give your unit away. Just follow the instructions at the top of that page.

You can also try listing it on E-Bay with a starting bid of one dollar and offer to throw in a gift card or some other incentive. Other people have used Craigslist but just be prepared to deal with a lot of spammers and scam attempts.

harryk67 wrote:

I know not to get a timeshare but I caved for my wife(at the time) and we got it. ... Is there any way to get out of the damn thing!?

What "brand" of timeshare is it? If it's a Wyndham, read about the Wyndham Ovation Program Forum here on Redweek and then give Wyndham a call. Some other major timeshare companies are setting up somewhat similar deedback programs, too. Separately, don't give up on advertising to sell it yourself in Redweek, TimeSharing Today, eBay, T. U. G., MyTimeshareNetwork, and the like.

harryk67 wrote:

I know not to get a timeshare but I caved for my wife(at the time) and we got it. A year or two later we divorced and I was stuck with it. It's paid off and I'm tired of paying the yearly fee of about$500. I've tried selling it. I've asked them to take it back and sell the junk to someone else.....I'd just sign it back over to them. Is there any way to get out of the damn thing!?

WHOSE NAME(S) is / are on the current deed??? That's what really matters here.

If it's both of your names and you did not get the timeshare deeded into one or the other name alone at the time of divorce, then it will now require both of you to sign off on anything that you do with the timeshare now or anytime in the future , whether that be sale, giveaway or deedback. Good luck with that if the ex is still alive and doesn't choose to cooperate. Divorce doesn't make either name (or the equally shared financial responsibility) magically "disappear"; there needs to be preparation and recording of a whole new deed in either one or the other name. If that important detail was overlooked by inattentive lawyers in the course of your divorce proceedings, then equal co-ownership (and equal financial and legal responsibility) remains firmly in place and fully intact today, like it or not.

Whom do you have your timeshare with? Next, if your ex-wife is still listed as a co-owner, then she is an equal on your monthly maintenance fees, unless that was a stipulation in the decree that you are responsible. She may owe you half back for what you paid in those fees after the divorce & going forward. She also has to understand, she will also owe half of any fees involved in the timeshare "Buyback". Also she should understand that the timeshare was a negative investment in that when & if you get rid of it, there will no profit from its disposal. Finally she is actually entitled to 1/2 use of the annual points as long she is a co-owner. Problem is that timeshare issue should have been included in the divorce decree by the attorneys.

Don't buy one

garyb756 wrote:

Don't buy one

Don't buy one what? Timeshare? I know many people have had horrible experiences with buying and owning timeshares, but that does not necessarily mean for everyone to not buy one.

What is recommended before buying one or even getting one for free is to do research for at least a few months. Take time to analyze your personal and family situation. As well, take time to analyze your personal tastes, needs, and preferences when it comes to traveling. It is also good to research the different systems when it comes to timeshares and do many comparisons.

Of course, many people after analyzing such things will conclude that timeshare ownership is not for them. On the other hand, there are many happy timeshare owners. So to make a general, blanket statement of "Don't buy one" is unfair.

We were happy timeshare owners as far as vacations were concerned but absolutely hated the pressure to attend " owner updates". We no longer own as we took advantage of wyndham's ovation program after 10 years.