Timeshare Trap

Timeshares are one of the worst investments you can make. This journal is to inform people who are thinking about purchasing a timeshare not to do so and help those trying to get rid of their timeshare.

Monday, December 22, 2008

Timeshare Inheritance

One of the biggest shocks that many people receive is when they inherit a timeshare from their parents. They assume that they are inheriting something of value and not something that will suck money out of their bank account. It doesn't take them long to figure out that the timeshare isn't what they had expected.

What many people don't realize is that they don't have to accept a timeshare that they have inherited. It's perfectly within your rights to refuse it:

You have to file your Disclaimer of Interest within a certain time period, usually nine months from the date of the death of person you inherited the property from; unless you are under the age of twenty-one, then the time period begins when you turn twenty-one.

It doesn't stop there of course. If you refuse it, it goes to the next person in line so each person in the family must disclaim it. For more information you can read
How to refuse a timeshare inheritance.

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