Timeshare Inheritance: Legacy or Liability?
Cancel Your Timeshare Contract to Avoid Timeshare Perpetuity
Timeshare inheritance has been used as a marketing strategy by timeshare salespeople for decades.
Convincing potential timeshare buyers that timeshare ownership is a “gift that keeps on giving” when transferred to their heirs, has been a timeshare sales tactic since the creation of deeded vacation ownership.
While this may have been the case a decade ago when timeshares still held some resale value, it is rarely the case today. Timeshares now sell for pennies online, by owners who are desperate to find a way out.
In light of the economic downturn, few of us wish to inherit another bill from our parents. By definition, an asset is something that will increase in value. The modern timeshare has no chance of becoming an asset, only a financial drain siphoning off dollars that could be used more wisely.
The unpredictable and ever-rising financial responsibilities accompanying timeshare ownership are no longer reasonable to the generation so well acquainted with finding the great vacation deals now available on the Internet.
In essence, timeshare inheritance is little more than a burden passed from parent to child. Failing to cancel your timeshare contract prior to your death is akin to leaving behind another confusing responsibility to be handled during a time of grief.
Importance of Timeshare Inheritance Prevention
How do you ensure that you will not be leaving your family with an additional financial and emotional albatross? Should it be as much of a priority as drafting a will or securing your burial arrangements?
When you consider the true cost of timeshare ownership, it is no small issue. The annual timeshare maintenance fees can range from $500 to $1,000, and an increase of as much as 20% per year is common. This does not even take into consideration the possible “special assessments” that timeshare owners are charged with in the case of weather damage or physical upgrades to the property.
–Elliot E from Pikeville, North Carolina
(Liquidated Manhattan Club Timeshare)
Few families currently have that kind of disposable income that could not be better spent or invested, than on the right to vacation at a specific resort year after year.
Considering that even booking the weeks that are typically necessary for families to take a holiday can be next to impossible, your heirs will likely find that they would be wise to liquidate the timeshare you’ve left them.
Additionally, one in four Americans do not even get a paid vacation from their employers and those who do frequently cannot or do not take vacations at all due to financial reasons.
Timeshare Inheritance Refusal UK
The timeshare inheritance dilemma is not unique to the United States. In their report, “Timeshare in Perpetuity” BBC Radio covered issue of the story of sisters who found themselves as reticent new timeshare owners in the event of the deaths of their parents. Saddled with two timeshares, the sisters were in need of a way out from under the exorbitant timeshare maintenance fees they became responsible to pay.
Timeshare Redemption to Avoid Unwanted Inherited Timeshare Ownership
Even though your timeshare contract may include a perpetuity clause making your children or heirs responsible to continue paying your timeshare maintenance fees and special assessments, there is a way out.
The best way to legally and permanently divest your timeshare interests and become timeshare free is by enrolling in the Timeshare Redemption program offered by Redemption and Release, LLC. Featuring two 100% guarantees, the Timeshare Redemption method of timeshare contract cancellation is a quick way to ensure that you do not leave a complicated timeshare inheritance situation behind you.
Your children will appreciate the consideration you’ve shown them by absolving this financial obligation prior to your passing. Call Toll Free today to receive a free personal consultation at 888-743-9051 or fill out our short online questionnaire and one of our friendly and knowledgeable Timeshare Redemption experts will contact you as soon as possible.