How do you get rid of timeshare?

Answer 1

If you have recently purchased the timeshare membership in the United States you can rescind the transaction in the first few days in most states. Each set of purchase documents papers accompanying a timeshare sale will include a section explaining how to rescind. The right of rescission is controlled by the laws of the jurisdiction in which the time share is purchased. The longest is 15 days in Alaska. You need to check the laws.

If you are past your rescission period you can also contact Timeshare Mortgage Relief, LLC who is a timeshare consumer advocacy company and they can get you out of your contract if you are a victim of fraud or deception. If you have a timeshare that is paid in full you can contact Property Donation Group who will accept your timeshare as a donation or offer a guaranteed title transfer.

If you are the owner of a timeshare then you will need to read the contract. Will your commitment and membership terminate automatically after a specific number of years? If you fail to pay your annual fees what steps can be taken by the property owner? Are you legally able to resell your membership? Does the property owner have a right to buy or first right of refusal?

Once you understand your rights you can market or offer for sale your membership. You will receive only what someone else will be willing to pay. The internet is one way to find buyers. In some destinations there will be local sales agents who can market the membership and they will be able to show it to people who are looking in the area.

Owning a timeshare is usually a contract of a considerable number of years. You can wait for the contract to end or you can transfer the ownership to someone else. You can also sell it.

See related link for state rescission periods.

Answer 2

To resale or rent a timeshare is a hard task, the basic rule is not to pay money up-front, don't be another victim of a scam.

If you just want to get rid of it and you don't care about money, you can donate to any non-profit or church that you like.

There are also title transfer companies (sometimes called timeshare relief companies) one of which is Timeshare Aquistions, Inc out of Orlando Fl. (see related link) that assume ownership of timeshares for a fee. Timeshare title transfer companies can save time and money when trying to get rid of a timeshare. Some view these companies as last resorts by timeshare owners who cannot sell or afford to pay maintenance fees any longer. Others realize their value in the industry and choose them as a first and right choice to transfer their timeshares. A great company to use for a timeshare donation or transfer is "Property Donation Group". If you are a victim of fraud you can also legally cancel your mortgage contract with a company called "Timeshare Mortgage Relief".

A best bet maybe? Consult with a real estate Agent from a reputable Real Estate company and get their advice. They won't charge you a fee for advice! The only catch is that they are not specialized in a field like timeshare which are not actually real property but a luxury item that are losing value in today's economy and are difficult to get rid of.