Can I Reject A Timeshare Left To Me In A Will?

Can I Reject A Timeshare Left To Me In A Will?

In a word, YES.

But.

This question could be loaded with complications like tax consequences, family disagreements, or other unforeseen quirks.

Plus, depending on the timeshare laws where the property is located, the wording of the will, and the specific situation there may be other considerations that would need the assistance of either a tax lawyer or inheritance attorney or both.

Why would you want to reject a bequeath?

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Park City Utah – Skiers’ Paradise!

The primary reason most would reject a timeshare bequeath is that a timeshare would not fit their lifestyle and vacation plans. Planning a vacation may have to be more spontaneous, destinations may not be as flexible, and timeshare resorts may not fit into the type of vacations preferred.

Other reasons to reject such an inheritance would be tax consequences or its just that it is simply a dog of a timeshare.

Ask yourself:

Would I use the timeshare?

Is the timeshare in a location that I would like?

Is my work flexible enough for me to set a vacation date 9 months to a year in advance?

Will accepting the timeshare cause a fight in the family?

Would it be worth selling the timeshare?

These and other questions would have to be looked at early on to avoid major headaches ahead. Your basic options would be to keep it, or reject it. If you reject it: it becomes someone else problem or enjoyment. If you keep it: you could use it or sell it.

Pretty simple in theory.

Selling your timeshare would require professional assistance from a timeshare resale broker. That way you’d have confidence that a professional with a real estate license will oversee the deal. You’d also see cash at closing.

Cash is always good.

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