Give Your Unit Away
Still another option for a timeshare unit that will not move on the resale market is gift giving. That's right: You can turn your timeshare into a present for a family member, close friend, or important business associate. In many cases, this means that you will still be invited to enjoy the resort from time to time — but without all of the annual maintenance fees and other expenses that go along with ownership.
Of course, your timeshare will have to be paid for in full in order for you to follow this path, and the person to whom you are transferring it will become responsible for those fees that you will no longer be paying. In many cases, though, the beneficiary of your gift will be thrilled to pay a few hundred dollars a year in maintenance fees in exchange for a $15,000 timeshare unit that she will be receiving for free.
E-QUESTION
When might it be appropriate to give a timeshare unit as a gift?
Gift-giving occasions include as your children's wedding gift, as your parents' retirement gift, as a close friend's fiftieth birthday gift, as a longtime colleague's holiday bonus, or as a hard-working employee's reward for bringing in new business.
The process of giving a timeshare gift is similar to the process for making a permanent swap. You have to change the deed in the county clerk's office, as well as a transfer of ownership form with your resort developer and/or exchange company. Oh, and since you can't exactly tie a red ribbon around the timeshare itself, you may want to save a resort catalog to cover in gift wrap and a festive bow for the big presentation!
