Ormond Beach, FL asked in Real Estate Law for Florida

Q: I am an only child. My mom owns a timeshare. (Dad passed) Do I have to accept the inheritance of the timeshare?

They have had the timeshare for about 20 years. It's all paid for and not worth much. I would like to deed it back to the timeshare people. They already stated they wouldnt do it. (Mom is still alive, but is 82) asking for the future..

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2 Lawyer Answers
Terrence H Thorgaard
Terrence H Thorgaard
Answered
  • Freeeport, FL
  • Licensed in Florida

A: No, you will not have to accept it, when she dies.

Seril L Grossfeld
Seril L Grossfeld
Answered
  • Fort Lauderdale, FL

A: Some timeshare companies now have programs where they will accept the timeshare back from older owners. If credit is not a problem, just stop paying them, another option used to get out from under them. Once they are faced with bearing the cost of the foreclosure to get title back they may gladly accept a deed in lieu of foreclosure.

Timeshare companies are good at conning people so of course they are going to con you into thinking you will be stuck with it as an inheritance and you have to keep paying.

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