How to get rid of a timeshare?
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How to get rid of a timeshare?
I have a time share that I have owned for almost 20 years. It’s been paid off for over 15 years. I want to get rid of it but I can’t. I tried to sell it, rent it, give it away and donate it but they just take my money and I still own it. Is there a way to get out of this lifetime contract I signed? Could I start a business, sell the time share to the business and then allow the business to go bankrupt. Would this work? I’m desperate
Asked on September 22, 2012 under Real Estate Law, Maryland
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Timeshares as you have discovered are simply not desirable. I would suggest donating it to a charity but that does not seem to work for you. Have you considered "Ebay" or "Craigslist"?
You can sell it for very little money or simply deed it back to the entity that owns the timeshare location for resale. Creating an entity and placing the time share in it and bankrupting the entity is too costly in time and money.
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