Inherited a Timeshare? Here's What You Need to Know

When Timeshares Pass to Heirs

Inheriting a timeshare can come as an unwelcome surprise. Unlike other assets, timeshares often come with ongoing financial obligations that heirs may not want or be able to afford.

Understanding Your Obligations

When a timeshare owner passes away, the timeshare typically becomes part of their estate. This means:

• Outstanding fees may need to be paid from the estate
• The timeshare may pass to heirs named in the will
• Heirs may become responsible for future maintenance fees

Can You Refuse an Inheritance?

In many cases, yes. The legal term is "disclaiming" the inheritance. However, there are important considerations:

• Disclaiming must typically be done within a specific timeframe
• You cannot have already accepted benefits from the timeshare
• State laws vary on disclaimer procedures

Options for Inherited Timeshares

Accept and use it - If the timeshare fits your lifestyle

Disclaim the inheritance - If done properly and timely

Sell or transfer - Though this can be difficult

Work with an exit company - To legally terminate the contract

Protecting Future Generations

If you currently own a timeshare, consider your heirs. Many owners choose to exit their timeshares to avoid passing on the financial burden to their children.

Getting Help

Inherited timeshare situations can be legally complex. We recommend consulting with both an estate attorney and a timeshare exit specialist to understand your options.