by Phoenix attorney Christopher A. Combs, partner with Combs Law Group, P.C.

Question: My wife and I purchased for cash a two-week timeshare in a beautiful vacation property in Cabo San Lucas, Mexico. The annual maintenance fee and other expenses, however, are more than $6,000 per year. Inasmuch as we rarely use our timeshare property, we want to get rid of it. The timeshare company does not have any buy-back or resale program, and the timeshare company has said that they will place a lien on our timeshare property if we do not pay the annual maintenance fee. Is there any way to get rid of this timeshare property? I am sure there are others out there who have the same problem.

Answer: There is no way now to “get rid of” your timeshare property unless you can find a buyer. You may have to give a steep discount on the sales price for any buyer as the resale market for timeshare properties is generally poor. My final suggestion to owners of timeshare properties in your situation is to consider just giving the timeshare property to a friend or relative who might use the timeshare property, and is willing to pay the annual maintenance fee and other costs.

 

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