Timeshare Deedbacks: The Best Way to Unload an Unneeded Vacation

A timeshare can be the perfect way to enjoy a luxurious vacation without having to pay full price for a vacation home. Sometimes, however, money troubles make it difficult to continue paying even for a timeshare. A timeshare deedback may be one solution you can consider in some cases.

  • Share
  • Share


You may be one of many people who have purchased timeshare property as an affordable yearly vacation getaway. However, as the economy continues to deteriorate, you might find that, at least for a period of time, you are no longer able to afford the timeshare’s annual fees. When this occurs, owning a timeshare can become a nightmare. Selling your timeshare can be a complicated and drawn-out process that you may well want to avoid if possible.

If you are looking for a way to unload a timeshare that you no longer want or need and selling it to a new owner is either not possible or not your preference, it may be wise to try a deedback agreement. A timeshare deedback involves submitting a buy back offer to the initial property management company. Of course, this option will not work in every situation; most timeshare companies will only buy back property when it will benefit them financially to do so. The likelihood of this possibility will depend on the degree of demand for the unit owned and the interest level of the resort in question. Even if an agreement is reached, you should still not expect to be offered an amount close to the property’s original selling price.

To begin the process of a deedback, you should first try calling the resort and inquiring about the possibility of following through with one of these agreements. For a deedback to be possible, the timeshare must be fully paid off and have no liens, taxes or other money owed to the resort. Many times when the company agrees, they will charge a fee for transferring the deed back. However, after the paperwork is complete, you will no longer be responsible for the future payments on the timeshare unit. Depending on your financial situation, this could be quite a large relief.

However, you should keep in mind that a deedback will generally be one of the last courses of action you should take to get rid of an unwanted timeshare. The best case scenario usually involves simply selling the timeshare directly to a different owner, although this must be acceptable under the terms of the signed contract. You can take advantage of a wide variety of online or print marketplaces to promote your timeshare, or you can even use eBay or similar websites to do so. In other cases, a vacation marketing company may be able to help sell the timeshare for a fee. If a sale is still out of the question, it may also be possible for you to rent the timeshare out to someone else as a source of income. Often, timeshare companies have departments that may assist you with this renting process for a fee.

Buying a timeshare can be a good idea in many cases. Eventually, however, unforeseen financial crises can make continuing to pay for it challenging. If you need to get rid of your timeshare, but you are unable or unwilling to sell it, a timeshare deedback may be the perfect solution. By returning the timeshare to the management company, you will no longer be responsible for any future payments.

Author
Boris Razmiki

About the Author

has written 89 articles on Timeshare Blog.

Visit this author's website   ·   View more posts by

Discussion

No responses to "Timeshare Deedbacks: The Best Way to Unload an Unneeded Vacation". Comments are closed for this post.

Comments are closed at this time.