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What happens to your timeshare when you die?

What happens to your timeshare when you die?
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What happens to a timeshare when the owner dies? Many believe that the contract gets cancelled, but that is not often the case

We have learned that timeshares are not a purchase that anyone can handle. Many defrauded timeshare owners try to get rid of their properties by listing their units on several websites for a dollar, without having any success. However, what happens to your timeshare when you die? Does the property get transferred to your family? Find out the answer to this question by reading this article.

Timeshare contract – The key to know what happens to your timeshare when you die

Because your timeshare contract will certainly establish what happens to your timeshare when you die in one of its clauses, we highly recommend you to read the timeshare agreement cautiously. Some timeshares can be inherited, while others can be owned by more than one person, however, whatever the contract says, the truth is that all of the clauses will always benefit the resort.  Also, ask as many questions as possible during the presentation if you are seriously considering acquiring a fractional ownership.

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What happens to your timeshare when you die?

 This will depend on several factors:

  • Joint ownership: This is when more than one party owns the timeshare. In this case, if one dies, the other gains full ownership of the property.

  • Inheritance: Some timeshares can be inherited. In this case, when the owner dies, the successors of the timeshare will have to take care of the future payments.

  • Probate: When the timeshare contract is under the name of one person only, the property will enter into probate when this person dies. This means that the timeshare will be handed down to another person, according to the deceased's will.

  • The resort takes it back: Some resorts take the property back once the owner dies; however, this is not a common scenario.

Is there any way to get out?

what happens to your timeshare when you die

There are many ways to get out of timeshare legally, but the best one is timeshare cancellation. If you have already purchased a timeshare that was sold under fraudulent premises, and have not been able to get in touch with anyone at the timeshare resort, contact us today. At Mexican Timeshare Solutions, we would be happy to work on your behalf to ensure that negotiations are swift and successful.

 Information to share

If you liked this article, please help us to share this information to more people in order to avoid more timeshare scam victims. How?

  •   Share this link http://www.timesharescam.com/blog/173-what-happen-to-your-timeshare-when-you-die/ on your favorite blogs and forums

 

Leave your comment below and share your opinion with us.To know more about timeshare problemsvisit:

Seniors suffer over timeshare scams

Timeshare companies: The truth about them

Cancel a timeshare: what are the advantages?

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20 Comments
  • Jean HartDecember 8, 2014, 5:03 pm

    i don't want it, anyways.. i don't care what it's going to happen, if i could just cancel it right now i would be so happy

  • JeanOctober 20, 2014, 8:05 am

    I've been trying to sell my timeshare on eBay, but I haven't receive any offer. Is very difficult and I can't keep paying for the maintenance fees. I need some help!

  • PaulJuly 7, 2014, 9:23 am

    wish i could be dead so the resort can take back the timeshare!!!!

  • DamianJune 23, 2014, 8:26 am

    i just want to get rid of it, i don't care too much if i lose it when i die, i hope to lose it before of that

  • sandylawJune 9, 2014, 12:26 pm

    My parents have me listed with a timeshare company to inherit their timeshare. I don't want anything to do with it, but I don't want to insult them. I see it as being given a bill in the form of annual maintenance fees. Is there a way to disinherit the timeshare when my parents pass?

  • RaulJune 8, 2014, 10:20 pm

    a mi me gustaria que se pudiese dejar en herencia a algun familiar, yo nunca he tenido problemas con mi timeshare y no me gustaria perderlo

  • DavidMay 23, 2014, 2:18 pm

    como se puede tener certeza de que pasara con nuestro tiempo compartido al morir?

  • roger buckleyMay 20, 2014, 7:50 am

    i have a timeshare agreement in perpetuity based on the legal requirements within the British Virgin islands

    i am concerned that this could be passed onto my children when i die

    i would like to get out of this agreement now

  • FranciscoMay 9, 2014, 2:13 am

    Muy buen articulo, siempre queda esa duda, seria una lastima que aunque fuese un caso no tan comun.. el resort se quedara con el tiempo compartido, habria sido todo una perdida de dinero

  • Daniel JosephMay 8, 2014, 11:04 am

    The liabilities of many timeshare are transferred to your estate after your death. Your children may have to deal with the high and potentially increasing fees.

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