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.

ABC News Timeshare Video

ABC news did an accurate piece on timeshares and the troubles that they can cause called Timeshare, Beware! That is putting it mildly in our opinion.

With over 4.7 million people owning a timeshare, a lot of them are going to be finding out the downside of not being able to sell them with the growing economic crisis.

One special note: the video mentions that when you inherit your parents stuff upon their death, if they have a timeshare it will go to you. This is true, but you don't have to accept it. You can refuse it as part of the inheritance and you are smart to do so.

ABC Timeshare Video