We have a timeshare unit in Florida that we have found not useful and with the yearly maintenance fee, a money drain. In this economy timeshares are not selling and listing companies are really a bad way to go. We have tried to rent the unit out without success. Furthermore, the timeshare contract (as with most) includes provisions that make the contract valid even if the owners declared bankruptcy and is automatically passed on to our kids if we die. Would giving the timeshare ownership as a gift to an LLC protect our kids from the timeshare. Is there any other way to dispose it? It is interesting that you can foreclose on a home or have a vehicle reposed, but a time share is more difficult to get rid of.
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