My uncle wants to give me his timeshare in Reno. I live in New Jersey. I took a liking to cruising over land based vacations. I would like to take it but need to know the pitfalls. If I decide later after I have taken it can I just surrender it without any credit damage?

The ease of renting your Reno Timeshare is determined by the quality of the property. If it is in a highly desirable building you may be able to trade for Cruise based time shares. It really depends on the quality of your property. If your property is in demand it opens all kinds of doors for you and resale should be possible etc, good luck

I went online to sign up to sell my timeshare and the agent call me on my phone but I am afraid he might scam me.

To resale or rent a timeshare is a hard task, the basic rule is not to pay money up-front, don’t be another victim of a scam. There are some free classified adds where you can post it and get some results:

http://timeshareownerscommunity.com/

http://tug2.net/

http://craigslist.com

http://ebay.com

http://timesharegateway.com/

http://bidshares.com/

I’m in danger of going into foreclosure on some timeshare property in Florida. Will the credit damage be just as bad as losing a house?

Depends on how the timeshare was sold to you – it could just be an account on your credit that will show delinquent and maybe repossession. Since you only own a portion of the property not the property itself it will not be a foreclosure.

You may see collection activity and this will DAMAGE your credit rating. Try to unload it – then negotiate with the creditor to take a settlement if you are upside down.

Good Luck,

I recently put a down payment on a timeshare in Mexico but changed my mind 4 days later. I notified by credit card company and they are helping me dispute it but I was wondering how binding the contract is considering it was signed in Mazatlan Mexico. Is there a grace period to cancel without any penalty? If my credit card company is able to get the payment from going thru am I home free? What can the people I bought the timeshare people do to me legally? What are my rights? They told me I can’t cancel the only thing I can do is down grade the timeshare purchase to a less expensive one or forfeit the down payment? Do you have to be a certain age to buy a time share in Mazatlan Mexico?

Timeshares sound great in how they present them. But in all reality they aren’t exactly what they seem…….look at HOW many people are trying to "sell" theres because they can’t do what they want or even close to what they want.

Wish you the best of luck, but really they make it look so great when in reality there is only ONE I know that I have heard anyway that is ok. The rest a big scam………

Best of luck to you. I am sorry, but I’m not sure the legal parts of this matter.

I own timeshare in florida. I already paid an agency $800 dollars to put it up for sale and they won’t sell it. Are there agencies that sell it without charging anything upfront?

don’t use an agency at all…ebay…craigslist…newspapper.

I want to start attending timeshare presentations and see what they are all about. How do I find out abotu them? How do I get on a mailing list? Does anyone know of any websites? Thank you!

call 407-345-0000 and book a vacation through westgate resorts in orlando,FL not only will you get a chance a take a timeshare presentation but you will get to stay at a 5 star resort for cheap. its well worth it… for more info email me

mcoop07@gmail.com

I would like to go to London, Barcelona, Athens, Paris, Rome, OR Milan for a couple of weeks. How much would a timeshare cost? On average. And where can I find them? For two weeks is a hotel cheaper?

It is a risky business. Personally I am against this kind of holidays, but plenty people are buying and using it.
You can find plenty of companies on net advertising, renting and selling a timeshare. Read carefully before you decide:

http://www.uscg.mil/legal/la/topics/real_estate/time_share.htm

http://www.ehow.com/how_4751_buy-time-share.html?ref=fuel

Here you can find first hand questions/answers :

http://answers.yahoo.com/search/search_result;_ylt=ApJRfqN06nNfIjygexq1O0npy6IX;_ylv=3?p=time+sharing

Timeshare was purchased in the 1980′s and we want to transfer the title / deed to another member of the family. I assumed since it was a deed, any title company could do it, but I haven’t found one yet that has a clue. Does anyone have any experience with this?

The title insurance companies do not want to insure all the deeds. One timeshare condo might have 52 people who all have one week of usage. The entire complex might have 1,000 owners.

Get the old deed to the timeshare from when you bought it. Get a blank deed or just use a blank piece of paper and copy the words by hand.
Take Line 2 ( Grantee) from the old deed and enter it on line 1 (Grantor) of the new deed.
Write the new owner’s name on Line 2 of the new deed.
Copy the Legal Description from Line 3 of the old deed to Line 3 of the new deed.
The people on Line 1 of the new deed…. sign on the bottom in front of a Notary Public.

The title has now been transferred. The new owner can pay $10 to record the deed at the County Recorders Office.

We are going to donate our timeshare with the proceeds going to St. Jude Childrens Hospital. My question is, the donation company is asking for too much personal information to complete a 8282 IRS donation form. Is there anyone out there donated their timeshare? Were you asked to suppy personal info? We own the TS outright. What are the tax benefits, is it worth it?

Donating a timeshare is a quick way to resolve your real estate burden. There are no upfront fees, the charity will handle the timeshare transfer process for you, and it is taken care of quickly. Many charities will let you start the process online, and then contact you to finish up all of the paperwork. And of course, you will have the knowledge that your donation went to help a worthy cause.

One of the main advantages of donating is the tax write-off benefit. While you will generally receive more money if you sell your timeshare, if you like the idea of donating, you will still get some financial benefits. Once the timeshare transfer is complete, the charity will send you a receipt as proof. There is usually not a dollar amount attached, which is what you will need to determine yourself. Keep in mind that if the fair market value of your timeshare is over $5,000, you will need to get an appraisal to claim that amount on your taxes. You will need to pay for the appraisal yourself, which is often in the $300-$500 dollar range.

In order to have a smooth transfer of the timeshare over to the charity, there is some paperwork and initial information you will want to collect. You will want all of the resort contact information, and additional paperwork, such as any exchange agreements. The deed to the property, the membership agreement to the resort, and any financing information, if it is still being financed, are also necessary. You'll also want to gather your maintenance fee information and any real estate taxes.

If you decide to donate a timeshare, instead of selling, you will, in many cases be saving yourself from the time and hassle involved in advertising and marketing your timeshare. In many cases, you will be receiving a tax benefit, plus the gift of donating to charity. While you may not receive the full amount of money you would from selling, you will gain piece of mind.

We like Maui but are looking for something less expensive and just as nice. Want safe swimming and snorkeling and a great condo with water views. Any recommendations?

Well, it depends on your age and interests. There are many lovely towns in Mexico. Here are a few that are really beautiful:

San Cristobal De las Casas, Chiapas. -> Beautiful highland town with colonial buildings. Fascinating indian villages surround it, while the atmosphere in town is at the same time traditional and cosmopolitan. Not too expensive either.

San Miguel de Allende. -> Situated in Central Mexico. Cobbled streets and old colonial buildings. You get the arid landscape too, lol. Very popular with American retirees.

Playa Del Carmen-> Not so traditionally Mexican, but it has a great setting on the caribbean. Great restaurants and atmosphere. Slightly more expensive. Nice safe, sandy beaches with great diving nearby.

Hope this helps.