Posted on: 19th Aug, 2011 02:29 pm
The resort will not take back the timeshare and we can't afford it. Can we do a quit claim form and turn it back over to them? The resort is in NH it was purchased by us in Oct. 2010. It's all paid for and we are current with maintenance fees. Where can we get a QCD form and would this work for us?
>>Can we do a quit claim form and turn it back over to them?
No. If they don't agree to take it back, your options are to sell or rent it.
No. If they don't agree to take it back, your options are to sell or rent it.
Is donating a timeshare a good option? I'm not really looking for a big time tax break. I'll cut my losses as we can not afford the timeshare anylonger and need to get rid of it basically. We came across Donate for a cause and also Property Donation Group. Have you heard of either of them? They do charge a fee, one group charges less than the other.
Donating it doesn't release you from the monthly payment obligation to the Lender, so it's not a good option.
I would like to know the timeshare you are speaking of, I don't know... you said that you own it in full or do you still owe money on it? I know from experience that if you stop paying on some timeshares that they will harass you and send you letters saying they will ruin your credit, and call you all the time telling you that you have to keep paying or you will ruin your credit and they will foreclose on it.
From my experience, I called them and told them I was not going to pay anymore, I did not pay for 2 months or so and they let us out of the contract, also we did try to cancel with in the first week and they did not let us, but we never got a refund of over 4k we spent on it. Time shares are the worst investments in my opinion, that and new cars.
But please tell us which timeshare company you are with, I know with Westgate a lot of members have gotten out of their contracts with in 11 months after all the threats, they received a letter stating that if they send like 300 dollars or something plus this form back that they will be let out of their contract and their credit not touched at all.
I hope this helps but please reply with which company you are with or google how to get out of your company's timeshare and usually there is a way.
also I wanted to add, NEVER pay for those companies that claim they will get you out of your timeshare, they are liars and thieves. Time Share Advocates >.>
From my experience, I called them and told them I was not going to pay anymore, I did not pay for 2 months or so and they let us out of the contract, also we did try to cancel with in the first week and they did not let us, but we never got a refund of over 4k we spent on it. Time shares are the worst investments in my opinion, that and new cars.
But please tell us which timeshare company you are with, I know with Westgate a lot of members have gotten out of their contracts with in 11 months after all the threats, they received a letter stating that if they send like 300 dollars or something plus this form back that they will be let out of their contract and their credit not touched at all.
I hope this helps but please reply with which company you are with or google how to get out of your company's timeshare and usually there is a way.
also I wanted to add, NEVER pay for those companies that claim they will get you out of your timeshare, they are liars and thieves. Time Share Advocates >.>
Generally, acceptance of a deed is not required, only delivery.
