Timeshares in an Estate

After many years of enjoyment from vacationing with his timeshare an elderly gentleman unfortunately passes away.  In his will he has left the timeshare to his children.  After careful consideration none of the children are willing to take the timeshare due to financial concerns and an inability to maintain the yearly fees.  The family contacted the resort with hopes that they may buy the timeshare back.  However, the company does not wish to purchase the timeshare.  Questions arise about how to get rid of the timeshare without costing the family money?  Can they deed the timeshare back to the resort?  What happens if they default on the timeshare, after all it isn’t theirs right?  Many questions arise when a timeshare is left “hanging”.  So what happens next?

First, make sure you told the resort that the person who owned the timeshare is deceased.  This may persuade the company to rethink their decision to buy the timeshare back.  The resort may take the timeshare back for a fee as well as the yearly maintenance fees.  This is something that you would need to work out with the resort. 

Second, visit a reputable timeshare resale company who will list your timeshare for fee.  Look for a site that has licensed brokers.  There are many sites available but I highly recommend www.timesharebrokersmls.com as they will not charge any fees for listing the timeshare. 

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