What Do Timeshare Attorneys Do?

timeshare attorneys

Being stuck in an unwanted timeshare contract can be frustrating, stressful and overwhelming. And the idea of hiring a company or attorney to help you out of that contract can feel risky. When it already feels like you’ve been duped by the resort, it can be difficult to trust someone to help you out. Especially when there are many opinions and ideas surrounding timeshare attorneys.

The truth is that attorneys who specialize in timeshare contracts are essential to legally getting out of a timeshare contract. You just want to make sure you can trust who you decide to work with and understand the work they’re going to do on your behalf.

So, let’s talk a little more about what timeshare attorneys really do and how they can help.

Specific Expertise

As their title would suggest, timeshare attorneys have spent a tremendous amount of time and energy focusing on a specific expertise—getting you out of your timeshare contract. And when they aren’t actively working cases, they put in the time and effort to ensure they stay on top of the ever-changing timeshare industry—an industry that is completely unregulated by any governing body.

Understanding the Nuances

Those intricacies we mentioned are another thing you should know about timeshare attorneys. By the time you realize you want out of your timeshare contract, you’ve probably realized that the contract you signed is complicated. And that’s putting it lightly. Timeshare attorneys have specialized in this specific area of law, so they understand the nuances of each contract and how they apply to your specific situation. They can dive into your history with payments, the increased fees over the years, the terms of the contract, and determine your options.

Protection

When you work with Timeshare Termination Team, we help you in a variety of ways. Just one of these is our timeshare attorney partners. We’ve joined forces with one of the premier legal teams in the industry who has years of experience getting people out of complicated contracts like yours. Beyond that, we do the leg work for you. We handle attorney communication whenever possible. We protect you from the bumps in the road by navigating around and through them for you, all while keeping you informed every step of the way. That communication, protection, and peace of mind is what sets us apart.  That’s what we hear every day from individuals and families who have tried to get out of their timeshares on their own.

Often, we get the question of whether or not a timeshare attorney is “worth it.” It’s just another expense in an already expensive game, right? When you consider the time and fees you pay just to stay in that unwanted contract, we believe hiring someone you can trust to do the work with excellence and transparency is well worth the cost. It provides peace of mind, knowledge and a light at the end of the tunnel. Let us get you to that light! Get started with your free consultation.

What to Do if You Inherit a Timeshare

So, you’ve inherited a timeshare – now what?

Inheriting a timeshare can be a bittersweet moment. There’s sentimentality attached to it, but deciding whether or not to keep it can be complicated. Here are some things to consider when making your decision.

Weigh Your Options

When it comes to inheriting a timeshare, you have options.

Keeping the timeshare might be worth considering if you think you could get good use out of it.

If you don’t want it, you can try to deed the timeshare back to the timeshare company. But keep in mind that this is sometimes a complicated process to take on yourself.

Or, if you know you want to get out of it, you can work with someone who has helped many people get out of their timeshare contracts quickly and efficiently.

Is There a Mortgage Involved?

This is one of the first things you should know. If the timeshare is paid off, your financial responsibility drops significantly. That isn’t to say there’s no financial responsibility—just less. If the timeshare is not paid off at the time that you inherit it, you need to consider what kind of financial investment is involved.

Maintenance Fees

You should also be aware of the maintenance fees. At a minimum, you’ll be responsible for those costs annually. Keep in mind that these fees will likely raise over time; it’s not guaranteed to be a fixed cost.

If you love where the timeshare is located enough to visit there annually and get your money’s worth, it might be worth keeping! But we always recommend that you consider what else you could do with that. There are many other ways to travel nowadays without the need for a timeshare. That doesn’t mean getting rid of the timeshare is the right choice for you, but it is something you should consider.

Look Long Term

As we said, those fees aren’t fixed. In fact, they traditionally raise 4-5% every year. What’s affordable for you this year may become prohibitively expensive the next. Consider if that’s something you want to adjust to keep up with or not.

It’s also worth considering the impact of a timeshare on your vacation long-term plans. Are you comfortable and happy with the idea of visiting the same locations year after year, or would you rather have the freedom to go wherever you want?

When you inherit a timeshare, considering the short- and long-term impacts on your lifestyle is important. We understand that getting rid of something that was left to you by a loved one can be an emotionally charged decision. But if the best choice for you and your family is to rid yourself of the timeshare, you don’t have to do it alone. Call us and schedule a consultation today, and we’ll help create a plan to get that timeshare off of your hands (and out of your wallets) for good!

Should You Really Put That Timeshare in the Will?

willing your timeshare

When you bought a timeshare, you likely had grand visions of annual family vacations and the ability to pass the tradition down to your children and grandchildren. But before you put your timeshare in your will, there are a few things you should seriously consider.

Guaranteed Getaway?

Sure, the idea of a guaranteed vacation spot is enticing. But when you consider schedules, available dates and cost of travel, that guarantee often remains an idea rather than a reality.

Even if you have managed to get good use out of your timeshare, you have to consider the lifestyle and availability of the people who would inherit your timeshare.

Handing Down Costs

It’s important to remember that along with the timeshare’s benefits, you’ll be leaving the costs to your family, too.

If you’ve had your timeshare for any length of time, chances are you’ve noticed those maintenance fees rising year after year. These costs, which continue to rise, will be handed down to your loved ones with the timeshare.

No Investment Value

Many people think about handing down their timeshare from an investment viewpoint. It seems like a good investment—not to mention it’s often touted as one when they sold it to you.

But the truth is there is little to no investment value to be found in your timeshare. There really is no re-sale value in a timeshare. Just check eBay for some disheartening examples of people attempting to sell their timeshares for less than a dollar!

Depreciation

Timeshares depreciate at a faster and steeper rate than any new vehicle you’ve ever bought. While it can cost you tens of thousands of dollars annually, they are worth next to nothing for resale. This goes beyond lacking investment value— the depreciation of the property itself could easily lead to a vacation spot that feels less and less magical year after year.

At the end of the day, you’re likely leaving behind a legacy of expense and hassle as opposed to relaxation and convenience. The beneficiaries of this intended gift will face maintenance fees, annual costs, dwindling value and a lot of legal red tape.

Instead of writing your timeshare into your will, consider taking the necessary steps to get out of it instead. Not sure where to start? Timeshare Termination Team can help you get our of your timeshare legally.