Timeshare News

CONSIDERING A CHANGE IN YOUR TIMESHARE OWNERSHIP

January 4, 2019
Living Longer Life and Timeshare Ownership

Whether you are looking to add or remove a co-owner of a timeshare, transfer to an ex-spouse, or sell to a new buyer, the first question you need to ask yourself is, is your loan paid off?


As a rule of thumb, many resorts will not accept any change in ownership as long as there is an open loan with an outstanding balance remaining on a timeshare. The exception to this rule is a transfer of a timeshare into a living trust. This type of transfer does not change ownership of a timeshare but rather how the timeshare is owned.

What are the biggest concerns of making changes with an open loan?

Timeshares with open loans are unattractive to new buyers. A new buyer would immediately have to assume the loan which is likely to be greater than the market value of the timeshare. If you are considering selling your timeshare, review this recommended checklist from ARDA.

More Posts


Pen

Don't be a victim of any unsolicited calls by companies offering to sell your timeshares and taking upfront fees. Beware of any company calling you and promising to modify or cancel your contract with your timeshare company.