Villa Del Palmar Puerto Vallarta -  Will be continues mid January when we are at the resort.



HOW DO I GET OUT OF MY TIMESHARE MAINTENANCE FEES???

In the mean time we have had several requests from friends as to how to get out of their timeshares.  

The following as what we found out when doing some research into the matter.

Getting out of a timeshare after paying off the initial purchase is a very common situation. Many owners believe that once the loan is paid, the obligation is over, but the ongoing (and often escalating) annual maintenance fees are the primary financial burden that motivates people to exit.

Here is a comprehensive guide on how to approach this, from the safest and most recommended methods to the options you should be very cautious about.

First, Understand Your Situation

  1. Review Your Contract: The most important first step. Your contract (and the resort's governing documents) will outline the specific rules for ownership transfer, sale, and surrender. Look for sections titled "Resale," "Deedback," "Transfer," or "Termination."

  2. Identify Your Timeshare Company: The process and options vary significantly by company (e.g., Marriott, Westin, Hilton Grand Vacations, Bluegreen, etc.). Some have formal exit programs.

  3. Determine if You Owe Any Money: Confirm that besides the purchase price, all maintenance fees, special assessments, and taxes are paid in full. You cannot exit if you have outstanding debts to the resort.

Recommended & Safer Exit Strategies

1. Contact the Resort Developer / Management Company Directly (The Deedback or Surrender Program)

This is often the best and first place to start. Many major timeshare companies now have formal programs to take back ownerships, often called a "deedback," "surrender," or "voluntary termination" program.

  • How it works: You formally give the deed back to the company, relinquishing all ownership rights and future obligations.

  • What to expect:

    • There is often a fee for this service (anywhere from $500 to $2,500 or more).

    • They may require you to be current on all fees and have owned for a minimum number of years.

    • The process can take several months.

  • How to proceed: Call owner/customer service and ask specifically: "Do you have a timeshare surrender or deedback program?" Be persistent, as front-line reps may not be familiar with it.

2. Give It Away or Donate It

If the resort won't take it back and you can't sell it, giving it away is a legitimate and free (for you) way to stop the maintenance fees.

  • Timeshare Exit Companies (The Cautious Route): EXTREME CAUTION IS ADVISED. This industry is rife with scams.

    • Red Flags: High upfront fees (thousands of dollars), promises of a "100% guaranteed" exit, pressure tactics, and telling you to stop paying fees and stop communicating with the resort.

    • If you consider this: Do not pay anything upfront. Research the company extensively with the Better Business Bureau (BBB) and your state's Attorney General. Check for lawsuits. The American Resort Development Association (ARDA) also has resources on avoiding scams.

  • Giving It Back to the Resort (Deedback): As mentioned above, this is the safest form of "giving it away."

  • Selling It on the Resale Market

This is the most difficult path. The resale market is flooded with timeshares, and they often sell for a fraction of their original price, frequently for $1.

  • Where to list: Sites like eBay, RedWeek, Timeshare Users Group (TUG), and Bidshares.

  • Pricing: Be realistic. The goal is not to make money but to transfer the ownership and its obligations to someone else. You will likely have to pay for the transfer costs and closing.

  • Be wary of "listing" companies that charge a large upfront fee to advertise your timeshare. They often overpromise and underdeliver.

Summary: Your Action Plan

  1. Start with the Source: Call your timeshare company and inquire about a formal surrender or deedback program. This is your best bet.

  2. If That Fails, Try to Give It Away: List it for a very low price or $1 on a reputable resale site like TUG or RedWeek. Be transparent about all fees.

  3. Consider Donation: Use a verified and reputable timeshare donation company. Get everything in writing and confirm it is a 501(c)(3). Understand you may not get a large tax deduction.

  4. Explore a Licensed Real Estate Broker: If you have a highly desirable, points-based property in a prime location, a broker might be able to sell it, but be prepared for a very long wait and a low price.

  5. AVOID UPFRONT FEE EXIT COMPANIES. This cannot be stressed enough. If a company demands thousands of dollars before providing any service, it is very likely a scam.

Exiting a timeshare requires patience and diligence. By starting with the resort itself and using reputable, low-cost methods, you can successfully relinquish your ownership and stop the endless fees.








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