My timeshare is paid in full, but I just don't want it anymore

This would be helpful information.

Is it true every state is different? Yet the problem seems large in most states. It Got worse with arrival of air B&B, and exit companies taking the air waves in paid adds attacking not just the problems may exist, those where value does exist. The problem is anybody may need an exit one unexpected day, due to financial or health changes faced.

donp196 wrote:

Here's the deal . Just asking about it doesn't get the job done . I got rid of two timeshares in 2011 through deed backs . I contacted the two resorts . First I made sure I got to the person who handles the deeds . I informed them that I was going to get the properties out of my name with or without their cooperation . Apparently they believed me and both worked out an exit through a quit claim deed . It was fast and inexpensive . After all paperwork was completed and I had a certified copy of the deeds I sent a gift card to each person that worked on it with me . Ten years later my bank account is very healthy for not having to travel so much .

I still own one timeshare on the Las Vegas strip that I love. I usually go there every November for my week . I have never had any trouble booking my week and they treat owners like royalty there .

My advice is to make it your priority to get out of your contract . Pick up the phone and start making calls . Let them know that it's in their best interest to work with you because you will not be responsible for the next owner if they fail to pay their maintenance fees and assessment .

jimh272 wrote:

Is it true every state is different? Yet the problem seems large in most states. It Got worse with arrival of air B&B, and exit companies taking the air waves in paid adds attacking not just the problems may exist, those where value does exist. The problem is anybody may need an exit one unexpected day, due to financial or health changes faced.

I''m not at all sure that I understand your question about "every state being different". All that really differs among individual states is the time period provided by each state's applicable law to "cancel" a timeshare purchase contract.

In a few states (3, to be exact, Massachusetts being one of them) the contract cancellation / rescission time period provided by state law is only 3 days from the date of contract signature. In most states, that cancellation / rescission time period is 5 --7 days. In a very few states (Florida, Tennessee, maybe one other) the rescission period is 10 days. Nowhere in the U.S. is the contract rescission period longer than 10 days.

No state has contract cancellation provisions for personal health or financial issues once the rescission period ends.

rebeccab443 wrote:

I have hey Hacienda del Mar Los Cabos and E Pueblo Bonito Rose Owners ...I keep thinking that if I don’t pay them they told me that they would get the collection agency after me and then it would ruin my credit & I’ve always prided myself on my good credit..Can I walk away? I would’ve done it years ago! Of these timeshare get rid of your time here places are getting in touch with me but I don’t trust them please help me I’m almost 75 (in a few mos)! I can’t work and I need the money badly!

1) If it's in Mexico, then it is probably a Right-to-Use and not deeded property. You can end it by simply stopping paying the fees. 2) Yes, they might send collection agencies after you but you can ignore those calls. 3) Chances are slim that your credit will get dinged. The threats of these companies saying they will ding your credit is a scare tactic hoping that you will bite. 4) If "[you've] always prided [yourself] on good credit", then you have to do some soul-searching and ask yourself if it really worth paying these ongoing maintenance fee bills to protect your pride. 5) These "get rid of your timeshare places" are usually scams. You don't need one in order to just walk away and stop paying fees.

hi, I realized you posted your message about 3 years ago but I'm curious to see if you're still looking ! :)

Yes, I am still looking to get rid of my timeshare. Raintree resorts, Club Regina Cabo is where we purchased.

janeb492 wrote:

Yes, I am still looking to get rid of my timeshare. Raintree resorts, Club Regina Cabo is where we purchased.

This is probably just a Right-to-Use rather than deeded property. You can just end your membership by stopping maintenance fees payments. You will probably get a lot of collection calls and letters but those usually have no teeth. They will likely call with threats saying your credit score will be affected so that's a chance you have to take.

Just don't let this all lead you to seeking the services of these outfits that claim they can "cancel" your unit or contract.

We bought a week in 2008 at Marriotts (technically the week was in Las Vegas). We eventually bought about 20,000 additional points (several years later). We originally had around $1000/year maintenance fee. The additional points took us up to around $2000/year maintenance fees. We used our points every year. We only stayed in Las Vegas once. Our favorite spot was Newport Beach in CA. In 2018 it became clear that these vacation arrangements weren't working for us anymore. I contacted Marriotts. They said we could deed it back. They even paid us for some of the points we'd bought. It was much less than we paid for them, but I was surprised to get anything! That said, I would not advise anyone to buy a timeshare. You are further ahead to look on VRBO and rent someone else's.

debbies943 wrote:

That said, I would not advise anyone to buy a timeshare. You are further ahead to look on VRBO and rent someone else's.

Yes, renting is a good alternative to owning. That said, I would not say do not buy (or take for free) a timeshare. There are many happy timeshare owners. I would say do not buy or take on a timeshare without doing research first as well as analyzing your personal travel needs and preferences.

For many people, owning a timeshare makes sense if it fits into their personal travel needs and preferences.

Were you able to get rid of your timeshare ? I’m in the same boat…. Would like to know how to proceed

lindar876 wrote:

Were you able to get rid of your timeshare ? I’m in the same boat…. Would like to know how to proceed

You need to provide a few more details. As the title of this thread suggests, is your timeshare fully paid off? Are you up to date on your maintenance fees? If not, then it will be dang near impossible for anyone to take it.

What is the timeshare resort system? Is it independent or a name brand? If it's with Wyndham, Westgate, or Diamond, you can check out each one's deed back program. As well, you can advertise on websites such as here on RedWeek, E-Bay, Craigslist, or Timeshare Users Group (aka "TUG"; tugbbs.com) that you want to give your unit away.

If all those fail, then your final option would be to just stop paying maintenance fees (and mortgage if you still have it) and let the unit go into foreclosure. However, keep in mind that you will probably face a bunch of collection calls and letters as well as a possible hit to your credit score or rating.

The big thing to avoid are these companies that claim they can cancel or exit you from your timeshare. Those are usually scams so avoid them.

Club Regina Los Cabos is where we purchased, Raintree Vacation Club. Paid in full. Current on all maintenance fees. Specifically want to know if anyone has just quit paying the annual maintenance fees and how long it took for creditors to quit hounding. I have paid faithfully for 25 years and still have another 21 under contract. Maintenance fees are about 1400 per year for 30K points.

janeb492 wrote:

Specifically want to know if anyone has just quit paying the annual maintenance fees and how long it took for creditors to quit hounding.

Hello. I have Worldmark by Wyndham, 35,000 annual points. I don't get to use it like I wanted to and am at the point where I want and need to get out of it. Fully paid, maintenance up to date. 70,000 points banked plus available housekeeping and guest certificates (as I said, not using it). I have almost fallen into the "trap" of upfront fee's from 2 timeshare selling places...yikes. I have heard that Worldmark does not take back but I will call. So I gather from the posts that I have read that I am one of many suckers born every minutes and I may have no way out but to stop paying the maintenance and just listen to them rant? Thanks in advance for any input.

Did you call Worldmark at the number on this link? Please let us know what they say.

https://responsibleexit.com/

Good morning, I've been considering unloading my timeshare for quite some time. I have used for a while but now situation has changed and cannot use it anymore. It is in Maui, Kaanapali Beach club with Dimond Resort. One floating week every other year. Diamond Resort is ready to take back the deed. I am sure I am not going to get anything plus may end up paying transfer fee etc. Any advise as to what are good options? or I should just cut my losses and done with it?

You're timeshare actually has value . You might come away with some money after it sells . In the meantime you might consider renting it out to mitigate your loss . Maui is a very popular destination . Explore your options .

To Don P. or Lance C. or Brian L. or anyone else knowledgeable.... I own a TS at Ocean Landings Resort, Cocoa Beach, FL. It's paid off & Deeded. Maintenance Fees are approx. $600 per yr. I've read all the comments on this thread & hv an idea of what to do. I'll be calling the resort to see if they'll take it back. If not, what is the worst they can do to me if I just stop paying the maintenance fees - due January 1? Can they sue me? Considering the value of the TS I have, & the "lower" maintenance fees than many others, what do you REALLY think they would do? My credit is Excellent (about 820 - 850). Currently, they are having a sale on TS's that hv defaulted but aren't selling other owners' TSs who want to get rid of them. Any advice from any knowledgeable person would be appreciated. Thank you.

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I don't think they can sue you. If you choose to default, the worst that can happen is that you will face a barrage of annoying collection calls and letters. Hits and dings to your credit score or rating are rare in these instances.

If you do contact the resort's Homeowners' Association (not the resort's switchboard or front desk), be firm and say that you are not going to pay any more money in maintenance fees and that it would be in everybody's best interests for the resort to take the unit back otherwise the resort can go through all the pains and expenses of foreclosure.