We went to Disney World a couple years back and stayed at a Wyndham property. We all went to the spiel where they try to sell you a time share. Both of my wife's sisters bought one. I signed up for the introductory deal and then I cancelled the contract within my 10 day window after I did my due diligence online and found you could buy timeshares on ebay all day long for less than a grand. The resale value on them is actually so terrible that Wyndham had taken to buying up timeshares people were selling to try and repurpose them. What's ironic is the salesmen use the fact that the timeshare can be deeded to kids or sold as a selling point but that really has no value. If anything it ends up saddling the kids with a timeshare they don't want. I have to admit the guy doing the selling was damn good.Both my wife's grandparents and parents have timeshares, and both her sisters now have their own timeshares, so I'm sure that will be interesting come inheritance time.My parents have one. They have told me that it will become mine when they pass on. Am I obligated to take it? Any taxes or other concerns I need to be aware of? Never thought of that :)
Please don't donate your timeshare unless you hate the charity you are giving it to. I worked for a non-profit that foolishly accepted the timeshare before I started. It cost them money every year in annual fees, and had no value. I tried to sell it, but of course no one wanted it. I think they are still paying the exorbitant fees for that useless donation.
My parents have one. They have told me that it will become mine when they pass on. Am I obligated to take it? Any taxes or other concerns I need to be aware of? Never thought of that :)
Maybe you could go on vacation to the resort. Stand outside the presentation with a make me an offer sign!