Timeshare Donations – A Solution or Another Dead End?

After timeshare owners find out how difficult it is to sell their timeshare, they often resort to charitable organizations to get rid of their timeshare.  Like selling, timeshare donations are not as easy as owners anticipate.  Many charitable organizations and non-profits have experienced timeshare ownership and have come to realize what many owners have — timeshares can actually be more of a liability than an asset.  Paying every year regardless of the use of the timeshare is a rising fixed cost that many organizations would prefer to not have.  It also takes time to manage and/or provide to supporters or others.  Furthermore, with the timeshare resale market being the way it is, they cannot sell the timeshare just like individual owners.  So, many non-profits have have decided to simply not take any timeshares as donations.

Tomorrow, we’ll write about timeshare donation brokers — companies that will supposedly find you a non-profit that will take your timeshare as a donation.

2 Responses

  1. I had two timeshares the I didn’t need anymore and tried to sell them. This, of course, did not work and I faced one scam company after the next. Then I was looking through a timeshare forum and found a thread about timeshare donation.

    I found out that some properties are easier to donate then others. There are companies that sell these properties for very little money in a wholesale market. Whatever they get for them they donate to a charity. I understand that the donation is sometimes only a few hundred dollars but the charity is appreciative.

    Timeshare Relief helped me get rid of both worthless timeshares. Plus no more maintenance fees for me ever!

    I don’t know who else can do it, but https://timesharerelief360.wordpress.com/ has all the information for the company I used.

  2. This is impressive information but doesn’t quite answer the question about charities accepting donations. The question deals with “HOW and WHY” the charity accepts or rejects the donation.

    There are two ways charities accept timeshare donations.

    By far the most common is the charity will have the donor continue to hold it in their own name while the charity attempts to sell it for cash then keep the cash as the donation. Charities know from experience which timeshares they can sell so they can make enough profit on the transaction to support their cause (their income). If a timeshare doesn’t sell, they won’t bother taking the effort and will not accept the timeshare.

    The second way is for the charity to take title to the timeshare and totally relieve the donor from further obligations. The charity becomes the new owner and must either sell it for cash or assume the responsibility if they don’t. No charity takes title in the hope of reselling it. Charities don’t have magic benefactors, sources or methods of use and/or disposal. However, there are a rare few charities that will accept title. Since they don’t expect to sell it and make an income, they charge a fee to the donor to accept the title. This is like a few commercial companies that charge $3,995 to $6,000 or more, but the charities generally charge about 10% of that plus they can give you a legal IRS form 8283 for the donation so you can legitimately write it off and get a nice tax refund to cover your costs.

    If you look for one if these, make sure you understand a few things. This should be AFTER you’ve tried to donate to a regular processing charity and they’ve refused. Before you stop paying and submit to credit ruin from the resort, this is your next best option. Expect to pay from $500 to $1,000 to finally get rid of it. Make sure you DON’T give any money up front. Work only through a reputable closing company that you accept. The transaction should be a totally arms length transaction with everyone using the closing company to make sure you don’t get ripped off.

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