Time shares
Paul
[subject]
Friday, August 24, 2018, 11:28 (2936 days ago)
Who has gotten out of one and how? My 85 year old Mother-in-Law has one that will be passed down in the estate(me and my wife). I want no part of this. Info please if you have it.
all of the "time shares" I have dealt with
jthomson
[subject]
Friday, August 24, 2018, 13:10 (2936 days ago) @ Paul
both in and out of real estate were marketable. Get with a local realtor and put it up for sale if you wish not to deal with it.
See an attorney
Bob Denning
[subject]
Friday, August 24, 2018, 13:31 (2936 days ago) @ jthomson
Some timeshares are based on the laws of another country (Mexico for instance) and some in the US. I know there is a market to sell them but from my experience you don’t get much from the sale
Timeshare
Charlie Herf
[subject]
Friday, August 24, 2018, 14:26 (2936 days ago) @ Bob Denning
All suggestions so far are good. Have owned timeshare for 25 years at the ocean which is great if you use it annually but it is NOT a real estate investment. Mexico, as pointed out is a problem, and you have to buy your way out or assessments continue . The major scam in the US {mainly Florida] is to offer to let you out of your maintenance fees and assessments-but watch out. Many colorful callers and radio ads tout this BUT what will happen is you will sign over the unit and unless the transferee sells it you will continue to accrue fees and assessments because the property management company does not know it has been transferred. Either confirm and use an escrow company, a realtor who will escrow and sell , a lawyer or if you are in a state like CA or AZ talk to the management company which may accept a deed in lieu of foreclosure that ends obligations and gives them the right to sell it. Return on investment unless it is a unique well manged property [as at the ocean] is rare .
Good info
Paul
[subject]
Friday, August 24, 2018, 19:05 (2936 days ago) @ Charlie Herf
Thanks Charlie. I am in AZ.