Can you Donate your Timeshare?

Donate Timeshare

It’s a common scenario for many timeshare owners. They’ve grown tired of their timeshare, struggled to exchange it, or suddenly realized they won’t use it again., yet they continue to pay annual timeshare maintenance fees on it until they eventually decide to take action.

If you’re in this situation, you might attempt to sell your timeshare hoping to get a little return on your investment, but no buyers emerge. After spending money to list your timeshare through a listing company, you begin to realize that making a profit from your timeshare is no longer feasible. So, like most timeshare owners, you develop what you think is the best way to get out of the timeshare property by trying to donate.

Consider this. You are giving the recipient a real bargain with a complimentary timeshare. Who would refuse such a great deal? However, timeshare donations don’t occur as often or as easily as many buyers would like. Those seeking to donate their timeshare to a charity or non-profit organisation will likely find themselves out of luck. Many charities, once they discover the property in question is a timeshare, will reject the offer.

Foundations operate on a strict budget, so they can’t afford to add any potential liabilities to their list of expenses. This, along with the fact that timeshare can only be used during certain weeks, makes the purchase less practical for charities with limited funds. The larger charities will often decline properties for reasons other than financial concerns. Simply stated, they have access to various real estate assets, with the added benefit of having greater control over the usage of such properties.

Another challenge facing potential donations is the location of the timeshare. There are numerous timeshares on the market in popular locations, and there are also numerous discounts available to foundations in popular cities, where they will typically receive tax benefits for hosting events if they collaborate with other charities and non-profits. A timeshare property is an additional, non-tax deductible expense that the foundation will have to take on. The burden of a timeshare property provides little incentive for the average charity organization. And with so many timeshare on the market, it only makes sense to try and rent timeshare property.

Timeshares are responsibilities as much as they are vacation deals. Conduct thorough investigations when attempting to relieve yourself of the timeshare obligation, and make sure you don’t spend money trying to donate timeshare or resell it on the timeshare resale market.

Owners who encounter difficulties selling their timeshare, even after paying substantial initial listing charges, often turn to Mercantile Timeshare Claims to successfully get out of timeshare contracts forever. Simply complete the claim calculator to see if you meet the criteria.