DEAR BENNY: I recently read your suggestions on how to get rid of a time share. You suggested attempting to give your time share back to the company with a "deed in lieu," but said that it probably won’t work. You are right. It did not work. However, I found a broker who was willing to take the time share off my hands for $3,000. Is this the only other way to rid oneself of this burden? By paying money to give something away?
Also, is it true that this time share will follow my heirs and demand the maintenance fees on them after my death?
Have you any other suggestions of how to solve this problem? –Claire
DEAR CLAIRE: I receive a large number of email questions asking how to get rid of a time share. Unfortunately, there is no easy answer. Typically, the company that owns the time-share complex does not want to take back the time share, and there are a lot of "scam artists" who promise to sell but want a large amount of money — upfront — and then fail to perform.
Under no circumstances should you give any company (or person) any money upfront, regardless of the amount. You can sign an agreement that states, "If you are able to release me from all of my time-share obligations, I agree to pay you X dollars."