What Happens to Timeshares Upon Death

Losing a loved one is one of the most painful experiences someone can go through. The grieving process is different for everyone, and healing takes time. Unfortunately, the situation gets more complicated when you have to sort through the person’s financial affairs. The last thing anyone wants to do while they’re mourning is sort through complicated contractual agreements like a timeshare. This article will answer the question of what happens to timeshares upon death. Hopefully, this advice can help guide you through a challenging ordeal.

Next-of-Kin Gets Involved

Some timeshare contracts are only valid through the owner’s lifetime. This means that a person’s contract becomes null and void when they pass on. However, most timeshares are included in a person’s estate. In this case, the deceased’s next-of-kin, or whoever’s inheriting their possessions, would gain ownership of the timeshare. If you inherit a timeshare from a loved one who’s no longer with us, read more below on what your options are.

How to Get Out of a Timeshare Contract

You must act immediately if you inherit a timeshare that you don’t want. Contact a trusted timeshare exit company, such as Preferred Cancellation Services, to help you through the process. The team at Preferred Cancellation Services will help you write a disclaimer of interest letter stating that you don’t want to inherit the timeshare. You must act fast, though. Most timeshare companies will not accept the letter after a particular time. If they don’t receive the message within the allotted period, you must continue to make payments on the property. If you don’t, your timeshare could be subject to foreclosure, which will severely damage your credit.

This comprehensive guide explains what happens to a timeshare upon death. No should have to deal with pestering timeshare companies while they’re grieving. That’s why owners need to try and cancel their timeshares while they can. Preferred Cancellation Services does the most effective timeshare cancellation in Florida. We work tirelessly to get overwhelmed owners out of their agreements so they can continue with their lives. Please, don’t leave this burden to your loved ones when you pass on. Try your hardest to get out of your timeshare as soon as possible.