Math on DVC Resales

[eliza61nyc]

But there is a silver lining to that cloud - go on ebay and look up timeshares and you'll find people essentially giving some units (not at DVC) away. Maybe they inherited the timeshare from family or friends, or they're getting old and travel isn't as easy, they just can't afford to keep it anymore, and they're basically saying "here, take it off my hands, assume the deed, pay the maintenance fees, it's yours."

It does stink that you never truly own DVC in perpetuity. But you also never have to worry about what to do with it after a certain point, either.

I never understood why folks didn't disclaim the timeshares. When my dad died he had a timeshare in Aruba that none of us kids even remotely wanted. I got my attorney to write up a disclaimer on the timeshare, sent it to marriot and called it a day. They did try and charge the "estate" for the residual value but again that was pretty much a simple fix.

 

[Lensman]

It's not like buying groceries.

That's right. You need a photo ID to buy DVC.

I never understood why folks didn't disclaim the timeshares. When my dad died he had a timeshare in Aruba that none of us kids even remotely wanted. I got my attorney to write up a disclaimer on the timeshare, sent it to marriot and called it a day. They did try and charge the "estate" for the residual value but again that was pretty much a simple fix.

I'm very interested in the idea of disclaiming for my sister-in-law. How did you get out from under their claim for the residual value?

 

[eliza61nyc]

That's right. You need a photo ID to buy DVC.


I'm very interested in the idea of disclaiming for my sister-in-law. How did you get out from under their claim for the residual value?

So the rules may be different for each state but when my dad died in nyc, after we disclaimed the timeshare, Marriott, like any other creditor had to put a claim against the estate. since he had a will, the residue estate was basically zero. We did have a lawyer who handle it but basically they can't force you to pay for something you don't own.


https://timesharespecialists.com/legally-refuse-timeshare-inheritance/#.W2JAS9JKjic
https://www.timesharetrap.com/how-to-refuse-a-timeshare-inheritance.html

 

[Phonedave]

I never understood why folks didn't disclaim the timeshares. When my dad died he had a timeshare in Aruba that none of us kids even remotely wanted. I got my attorney to write up a disclaimer on the timeshare, sent it to marriot and called it a day. They did try and charge the "estate" for the residual value but again that was pretty much a simple fix.

Disclaiming is part of inheriting. You can disclaim an inheritance and it is pretty simply. You cannot disclaim something you own. In other words, if your dad was still alive and did not want his timeshare, he could not simply disclaim it. There are legal ways to abandon it, just as you can abandon a piece of real estate, but you still may be on the hook for back dues, and it is not as easy as a disclaim.

 

[Phonedave]

That's right. You need a photo ID to buy DVC.


I'm very interested in the idea of disclaiming for my sister-in-law. How did you get out from under their claim for the residual value?

Disclaiming is only applicable in the case of an inheritance, and I believe you have a 9 month window in which to exercise the disclaim.

 

[Phonedave]

I agree... with one major caveat. The points expire so it’s really not like a real estate transaction because your “investment” eventually becomes worthless.

It is like a long term lease, with the difference that ownership is actually transferred to you.

 

[correcaminos]

That's right. You need a photo ID to buy DVC.

OMG, I just snorted after reading this.

 

[Phonedave]

That's right. You need a photo ID to buy DVC.

My grocery store sells alcohol, so most of the time, when we are on our weekly grocery trip, we do need ID.

 

[eliza61nyc]

Disclaiming is part of inheriting. You can disclaim an inheritance and it is pretty simply. You cannot disclaim something you own. In other words, if your dad was still alive and did not want his timeshare, he could not simply disclaim it. There are legal ways to abandon it, just as you can abandon a piece of real estate, but you still may be on the hook for back dues, and it is not as easy as a disclaim.

Oh I thought that's what we were talking about. Lol I definitely don't know about abandoning.