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    Timeshare Help - How to Get Out of a Nightmare Timeshare

    Investing in a timeshare often seems like a great way to take great vacations while saving money. But as too many people have learned the hard way, many timeshares can prove to be more of a waste of money than anything else, and many times the timeshare home itself isn’t at all like what’s advertised in the brochures. Furthermore, a timeshare contract can be an absolute nightmare to get out of. Fortunately, there are ways to sell timeshares and remove yourself from that reoccurring financial hook. These are the questions to ask in order to find the best course of action and potentially get the help you need to get out of a nightmare timeshare.

    9 Active Questions | Add a Question
    -6
    Did I buy the timeshare or rent it?

    Whether or not a person has bought or is merely renting a timeshare is a crucial fact to know. In most cases, timeshares are purchased, but there are some rental contracts out there. Options will vary depending on this fact, especially when it comes to passing the timeshare on to other consumers.

    -8
    Is selling an option?

    This is dependent on factors like ownership status, the amount of “time” purchased in the contract, any other owners that may be involved, the type of property, etc. The contract itself will usually say whether or not selling is an option and, if so, what steps must be followed in order to do so.

    -10
    What is 'timeshare relief'?

    Timeshare relief is where a timeshare owner pays an outside person or a company specializing in this process to take over the timeshare and its contract. The owner/renter therefore no longer has to be obligation or maintenance fees and is essentially free of the timeshare burden. While this may not be the most ideal option, it is a way out. Perhaps unsurprisingly, timeshare relief is actually a growing industry that will have increasing options for consumers in years to come.

    -10
    When should a lawyer be brought in?

    Legal assistance isn't always necessary in these cases, but it is true that hiring an attorney can be extremely useful in order to make sure that all policies and contracts are fully understood and that there are no legal violations made in the process. If the timeshare is going to be rented out or sold, a real estate attorney can make the process much easier.

    -12
    Can I rent out my timeshare to other people?

    Again, the policies of the timeshare contract must be reviewed. Still, the good news is that, yes, in most cases timeshare owners can rent out their timeshare home to other people to use. In fact, some people purposely buy timeshares so they can rent it out to others and make a profit. Those who are in a long-term timeshare rental contract may have further hoops to jump through if they are looking to sublet, because it is even more likely that there are already other people on the contract.

    -12
    Can the timeshare be donated?

    Yes, donation is an option for timeshare owners who have come to the realization that they are highly unlikely to make a profit off of either renting out or selling the timeshare (and they cannot return it to the company). The truth is that many charities will accept timeshare homes as donations, and some already have their own strategies set up for how to capitalize on a timeshare once they have it.

    -14
    How long is my timeshare contract for?

    Some timeshare contracts are a full sale and therefore have people owning the timeshare indefinitely. Others are only for designated periods of time, though this time is usually years long. Regardless, it is important to understand all the parameters of the contract while reviewing how to get out of it.

    -14
    What are the timeshare company's policies on this?

    Most resorts and timeshare companies do have specific policies on procedures to follow when a person wants to leave their timeshare, and it is imperative that these policies are reviewed before any further action is taken. Some offer a return option (usually for a fee) while others will not take back the timeshare at all.

    -16
    Can the timeshare be donated?

    Yes, donation is an option for timeshare owners who have come to the realization that they are highly unlikely to make a profit off of either renting out or selling the timeshare (and they cannot return it to the company). The truth is that many charities will accept timeshare homes as donations, and some already have their own strategies set up for how to capitalize on a timeshare once they have it.