My father has approach me and asked if I would be interested in having or inheriting his Orlando timeshare and I was just wondering what kind of responsibilities I would be taking on. He's had it for several years, used it to a moderated degree and is always asking me if I want to go down and visit Orlando, but my wife and I are without children and Orlando doesn't have the appeal that many other locations would for my lifestyle. Any help regarding what legal responsibilities I would have and the potential benefits and/or detriment to owning this Orlando timeshare would pose...?

John

Hello John and welcome to our forum. Your question is good and we encounter many who have inherited timeshare from their relatives. Some approach us to rent-out their newly acquired timeshare because, like you, do not favor the deeded location of the inherited timeshare or perhaps do not use it every year, so this is a viable option if you do accept the timeshare. Others approach us to assist them with selling their timeshare.

Be aware that whether you use the timeshare or not, you will be expected to pay the maintenance fees and taxes(since it's legally deeded property), which can range from as little as $250 to as much as $1,200 per year. So, renting-out the timeshare can potentially off-set these expenses and possibly put a little cash in your pocket. Selling can also be a viable option and since many who have inherited timeshare property have no finanial investment in the ownership, they are many times able to offer an excellent 'asking pricing' and in many cases able to sell quite quickly.

Also, since you may be new to timeshare ownership you may not be aware that just because the timeshare is deeded in Orlando at a specific resort doesn't mean that it can only be used at this location. Many resorts have a number of resorts in their 'family', at various locations and there are exchange companies that a timeshare owner can join to broaden the use and versatility of the timeshare. RCI and Interval International are the two big exchange companies and nearly every resort or vacation ownership will be affiliated with one or the other and sometimes both exchange companies.

So, there are many options and depending on your specific vacation needs. For more information on Selling or Renting a timeshare please post your question within our Timeshare Forums. 1-800-581-7330

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