It is easy to become owner of a timeshare, but getting rid of it and taking back your initial investment is most difficult. You may be asking yourself how to get out of timeshare contracts, keep reading…
Some timeshare companies may want to charge you for a contract buyout and state regulators may not be able to do anything in your favor. The truth is there is no standard procedure to get out of a timeshare contract and the most important thing you can do is contacting your home resort owner service and ask about a resale program or any other surrender option for owners who want to get rid of this obligation. If the company has no such program or option, at least it should be able to recommend you resale brokers or attorneys specialized in timeshare resales.
Alternatively, you can choose to donate timeshare to charity. There will be no time consumed, as in the case of the selling process, no fees, no stress, no waiting around and no guessing game.
By donating your timeshare, you may also qualify to receive tax benefits, but IRS does not recognize a right-to-use timeshare and does not allow tax deductions on timeshare week donations either.
Whatever you do, stay away from those “exit companies” that promise you to help you get rid of your timeshare; most of them are scammers.
Once you managed to be free of your timeshare obligation, you should celebrate hard, because you finally got rid of a real financial burden.
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