Inheriting a timeshare may be beneficial for some families. In other cases it can be a burden. Some families cannot afford the annual maintenance fee ($815/year average) and possible unexpected special assessment fees. This situation can be a serious problem for some. Proper estate planning should take into account the needs and desires of the inheritors to protect their credit and avoid losing the timeshare completely. Consult with your spouse and/or children to determine if they would welcome the timeshare in their inheritance.

Some of you reading this article may be in a situation where a loved one has willed you a timeshare, but you do not want to accept it. A timeshare inheritance can be refused by filing a Disclaimer of Interest although it may not be possible to disclaim the timeshare without disclaiming the full inheritance. Refusal to accept the timeshare may result in the timeshare company filing a damage claim against the estate for future loss of revenue. If the timeshare is not willed it will become part of the probate estate and when the estate is closed the timeshare ownership may terminate. If you find yourself inheriting an unwanted timeshare, be sure to seek legal advice to avoid damaging your personal credit.

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