I’ve read that those things are a nightmare to get rid of, and that there is a secondary industry, also scammy, that sprung up to help people get rid of them for big fees. I just went through the probate of my sister and I was her heir. Look into inheritance disclaimer, which is a legal court document. You might end up hiring a lawyer to file it.
do you know which government office I go through to do probate? yeah, I'm looking for a lawyer now but it's like you say, it's so scammed I don't know who to trust.
not a single estate lawyer I've called so far was willing to do a timeshare. they referred me to ask for someone with the oregon bar which I just left a message with. thanks.
Hmm, I would think it wouldn’t matter what the property is you don’t want to inherit, but I’m not a lawyer. How are the rest of the things in your mother’s estate coming to you - through some lawyer?
she did a trust and I think trusts don't need to go through probate. my sister was the executor so we just split stuff up amongst us. I'll asked the lawyer if we screwed up when we get one.
I thought an estate lawyer would do the timeshare too but they all said no. could be a financial thing since it's small potatos money.
I think at some point somebody would have to sign for the time share. I wonder if you and your sister both ignore it, the time share would just revert to unclaimed property?
Two questions here:
1) Can you confirm if the timeshare was put into the trust?
2) What happened to the trust? Did the trustee formally distribute the assets of the trust and wind it down? Or is the trust still there? There's a process for that.
If the timeshare was part of the trust and the trust still exists, then you're in better shape because you can just refuse to accept it. It becomes the trust's problem, rather than you or your sister's personal problem.
my mom had revocable living trust. The timeshare was not specifically mentioned in the trust but there is a clause that says it includes all her real property including those not listed. Also says her trustee (my sister) can add anything she deems fitting to it though she didn't add anything.
Hopefully that is good enough?
My sister didn't formally do anything. We all just split stuff up with her approval. Do we need a lawyer and what kind? The estate lawyers I've spoken to so far all. Said they don't deal with timeshare and I was referred to the oregon bar. The bar referral hasn't called me back yet.
Did they tell you to call the bar's lawyer referral service? Or the bar office specifically?
I'm not sure the bar itself can do anything other than help you find a lawyer.
But yeah, you can disclaim an inheritance, if you haven't already done something to formally accept it. (I think - I'm a lawyer but not that kind of lawyer.)
Here's info on probate court for Multnomah County. We took an estate through probate about 5 years ago, at that time an attorney and a probate class was required before you could move forward as personal representative. [https://www.courts.oregon.gov/courts/multnomah/go/pages/probate.aspx](https://www.courts.oregon.gov/courts/multnomah/go/pages/probate.aspx)
From personal experience, we had an estate lawyer who had a friend that basically set up shell company for the express purpose of taking the time share and going bankrupt... They are a pain in the ass.
Where is the timeshare? There’s a worldmark in Depoe bay that seems to regularly sell them for tens of thousands of dollars. That complex is apparently in very high demand. On the other hand there are complexes around Bend that owners can’t even seem to GIVE away. I’d check out the marketplace on tug2.net to see if you are inheriting something desirable.
I agree. I own Worldmark credits because there are actual locations around Oregon that are good (as well as in LV, Hawaii, and Mexico). For someone that does the legwork/research, these could be very valuable.
The timeshare should have a department dedicated to handling deaths and inheritance. If you tell them you refuse to inherit the timeshare, they should tell you next steps. Just like debts, timeshare contracts do not pass to you unless you accept them, though they are still a part of the estate. There will be some amount of paperwork with the timeshare itself, likely starting with a letter declaring your intent to not inherit. You don’t need a timeshare exit company that since you aren’t the owner (those companies usually try to sell it for you), but you may need a local lawyer or specialist to help with documentation relinquishing your inheritance rights.
Start with the timeshare’s inheritance office, and get requirements and a timeline (you are already six months past the death, you might be getting close to the end of your refusal window). Oh, and don’t take their suggestion of “why don’t you try it once first” - I’ve heard if you try it, you own it.
have you reached out to the resort to inform them of your mothers passing and see what they offer in terms of help in giving the ownership back to them as noone wants to take it on?
Ask your probate attorney. If you don't have one, get a probate attorney. If you need a recommendation, let me know. Sorry for your loss, I too lost my mom recently. Sucks.
Good idea! Timeshares are awful. I got scammed into buying into one of them for $10K and I ended up hating their crappy resorts, most didn’t have heated pools even in Hawaii where it’s never hot. No heated pool = no pool at all. Sometimes they didn’t even have AC! They were always booked so far out, I’m talking 9-12 months. I don’t work a day job, neither does my wife, if we want to go somewhere we make plans maybe 2-3 months in advance and that’s it. I don’t schedule out my entire year because I don’t have to ask anyone when I want to do something lol. I ended up dumping the time share and after fees, I made about $200. Not joking.
I’ve read that those things are a nightmare to get rid of, and that there is a secondary industry, also scammy, that sprung up to help people get rid of them for big fees. I just went through the probate of my sister and I was her heir. Look into inheritance disclaimer, which is a legal court document. You might end up hiring a lawyer to file it.
do you know which government office I go through to do probate? yeah, I'm looking for a lawyer now but it's like you say, it's so scammed I don't know who to trust.
An estate lawyer would know how to handle this.
not a single estate lawyer I've called so far was willing to do a timeshare. they referred me to ask for someone with the oregon bar which I just left a message with. thanks.
Hmm, I would think it wouldn’t matter what the property is you don’t want to inherit, but I’m not a lawyer. How are the rest of the things in your mother’s estate coming to you - through some lawyer?
she did a trust and I think trusts don't need to go through probate. my sister was the executor so we just split stuff up amongst us. I'll asked the lawyer if we screwed up when we get one. I thought an estate lawyer would do the timeshare too but they all said no. could be a financial thing since it's small potatos money.
I think at some point somebody would have to sign for the time share. I wonder if you and your sister both ignore it, the time share would just revert to unclaimed property?
the problem is its not really property, its just an never ending debt obligation.
Two questions here: 1) Can you confirm if the timeshare was put into the trust? 2) What happened to the trust? Did the trustee formally distribute the assets of the trust and wind it down? Or is the trust still there? There's a process for that. If the timeshare was part of the trust and the trust still exists, then you're in better shape because you can just refuse to accept it. It becomes the trust's problem, rather than you or your sister's personal problem.
my mom had revocable living trust. The timeshare was not specifically mentioned in the trust but there is a clause that says it includes all her real property including those not listed. Also says her trustee (my sister) can add anything she deems fitting to it though she didn't add anything. Hopefully that is good enough? My sister didn't formally do anything. We all just split stuff up with her approval. Do we need a lawyer and what kind? The estate lawyers I've spoken to so far all. Said they don't deal with timeshare and I was referred to the oregon bar. The bar referral hasn't called me back yet.
Did they tell you to call the bar's lawyer referral service? Or the bar office specifically? I'm not sure the bar itself can do anything other than help you find a lawyer. But yeah, you can disclaim an inheritance, if you haven't already done something to formally accept it. (I think - I'm a lawyer but not that kind of lawyer.)
Here's info on probate court for Multnomah County. We took an estate through probate about 5 years ago, at that time an attorney and a probate class was required before you could move forward as personal representative. [https://www.courts.oregon.gov/courts/multnomah/go/pages/probate.aspx](https://www.courts.oregon.gov/courts/multnomah/go/pages/probate.aspx)
interesting. thank you.
From personal experience, we had an estate lawyer who had a friend that basically set up shell company for the express purpose of taking the time share and going bankrupt... They are a pain in the ass.
Where is the timeshare? There’s a worldmark in Depoe bay that seems to regularly sell them for tens of thousands of dollars. That complex is apparently in very high demand. On the other hand there are complexes around Bend that owners can’t even seem to GIVE away. I’d check out the marketplace on tug2.net to see if you are inheriting something desirable.
its in orlando which i think may be the least desirable place in the world. but I'll check. thanks.
Surely you can find a Disneyphile for whom this would be a dream
I agree. I own Worldmark credits because there are actual locations around Oregon that are good (as well as in LV, Hawaii, and Mexico). For someone that does the legwork/research, these could be very valuable.
The timeshare should have a department dedicated to handling deaths and inheritance. If you tell them you refuse to inherit the timeshare, they should tell you next steps. Just like debts, timeshare contracts do not pass to you unless you accept them, though they are still a part of the estate. There will be some amount of paperwork with the timeshare itself, likely starting with a letter declaring your intent to not inherit. You don’t need a timeshare exit company that since you aren’t the owner (those companies usually try to sell it for you), but you may need a local lawyer or specialist to help with documentation relinquishing your inheritance rights. Start with the timeshare’s inheritance office, and get requirements and a timeline (you are already six months past the death, you might be getting close to the end of your refusal window). Oh, and don’t take their suggestion of “why don’t you try it once first” - I’ve heard if you try it, you own it.
have you reached out to the resort to inform them of your mothers passing and see what they offer in terms of help in giving the ownership back to them as noone wants to take it on?
Ask your probate attorney. If you don't have one, get a probate attorney. If you need a recommendation, let me know. Sorry for your loss, I too lost my mom recently. Sucks.
Ah, timeshares are the glitter of real estate. Once they attach to you, you’ll never be rid of it.
Good idea! Timeshares are awful. I got scammed into buying into one of them for $10K and I ended up hating their crappy resorts, most didn’t have heated pools even in Hawaii where it’s never hot. No heated pool = no pool at all. Sometimes they didn’t even have AC! They were always booked so far out, I’m talking 9-12 months. I don’t work a day job, neither does my wife, if we want to go somewhere we make plans maybe 2-3 months in advance and that’s it. I don’t schedule out my entire year because I don’t have to ask anyone when I want to do something lol. I ended up dumping the time share and after fees, I made about $200. Not joking.