Rustward
Thinks s/he gets paid by the post
- Joined
- Apr 19, 2006
- Messages
- 1,684
Hopefully some of you clever people can offer suggestions for disposing of a vacation timeshare. For the one or two of you that might not be so clever, here's your opportunity for an upgrade in status.
A little background: About a year ago DW's sister (in her 50's) got the "we'd like to retire" bug and did the firedrill of figuring their expenses and looking at assets and the conclusion was that they were not very close. One major issue is that her (then) husband freely spends quite a lot, mostly on rapidly depreciating items for hobbies. Efforts to curb his spending failed and they are now divorced. It was pretty civil, and I believe they mutually agreed on an uneven split of assets, but they must have thought it was fair.
One of the last remaining assets is two weeks/year vacation timeshare that they own together; the decree requires SIL's EX to dispose of it as best he can and split the proceeds 50/50. Until then they are on the hook for $230/month maintenance fee that they are to split until the timeshare is sold. This is not a very good deal. I don't think there is anything special about this timeshare. If I understand how it works, the owner chooses from one of several locations and books a week at a time. To me, this seems more like a prepaid condo rental with limited choices.
The EX has listed the timeshare with some kind of broker. My amateur research into timeshares reveals that there is really no market for them unless they are in a unique location; there are many for sale on ebay for $1 which tells me they are difficult to give away. SIL and her Ex might be happy just to be free of the maintenance fee even if they got nothing else.
Posting here on the chance somebody has experience with this and can offer a suggestion we can pass on. Who knows -- anything is possible. Until a couple of days ago I did not know that I did not know that you can make a Christmas wreath out of a coathanger and dryer sheets.
A little background: About a year ago DW's sister (in her 50's) got the "we'd like to retire" bug and did the firedrill of figuring their expenses and looking at assets and the conclusion was that they were not very close. One major issue is that her (then) husband freely spends quite a lot, mostly on rapidly depreciating items for hobbies. Efforts to curb his spending failed and they are now divorced. It was pretty civil, and I believe they mutually agreed on an uneven split of assets, but they must have thought it was fair.
One of the last remaining assets is two weeks/year vacation timeshare that they own together; the decree requires SIL's EX to dispose of it as best he can and split the proceeds 50/50. Until then they are on the hook for $230/month maintenance fee that they are to split until the timeshare is sold. This is not a very good deal. I don't think there is anything special about this timeshare. If I understand how it works, the owner chooses from one of several locations and books a week at a time. To me, this seems more like a prepaid condo rental with limited choices.
The EX has listed the timeshare with some kind of broker. My amateur research into timeshares reveals that there is really no market for them unless they are in a unique location; there are many for sale on ebay for $1 which tells me they are difficult to give away. SIL and her Ex might be happy just to be free of the maintenance fee even if they got nothing else.
Posting here on the chance somebody has experience with this and can offer a suggestion we can pass on. Who knows -- anything is possible. Until a couple of days ago I did not know that I did not know that you can make a Christmas wreath out of a coathanger and dryer sheets.