How to Legally Refuse a Timeshare Inheritance
Sometimes, what you inherit is less of a gift and more of a headache. While you’ll cherish timeless heirlooms and sentimental keepsakes forever, an inherited timeshare can pose quite the financial threat. Nip that problem in the bud before it becomes a true financial drain—here’s how to legally refuse a timeshare inheritance.
The last thing you want to do in this situation is wait. In fact, if you don’t act within nine months, you’ll likely get stuck with this timeshare. Don’t put it off for a future time; it’s in your best interest to act immediately and get this timeshare off your hands as quickly as possible.
Don’t use the timeshare
This step is essential when it comes to how to legally refuse a timeshare inheritance. Whatever you do, do not visit or use the timeshare. If you do either, that is seen as you claiming the property, which means you won’t be able to get rid of it easily. You’ll have to pay those maintenance fees and annual fees, which will result in a huge financial headache. Steer clear of the property, and you should be in the clear.
File a disclaimer of interest
To make it clear that you have no interest in your inherited timeshare, it’s essential to send a disclaimer of interest. This is a document that renounces a person’s legal right to an inheritance property, which means they’re no longer responsible for its upkeep or payments. A timeshare cancellation service can help you with the details, but a disclaimer of interest typically includes a description of the property, your statement of renunciation, and your signature. With the help of this simple document, you can save yourself a whole lot of money.
Send a death certificate to the property manager
Alongside the disclaimer of interest, you’ll need to send the previous owner’s death certificate to the timeshare’s property manager. That way, they know not to charge anyone, and your claim of renunciation will be seen as legitimate.
Let your family members know
Once the property is off your hands, it’s important to give your family a heads up. Since this was part of an inheritance, the timeshare will most likely go to the next person in line. If you give them forewarning, they can prepare before that decision is on their laps.
Don’t let an inherited timeshare loom over your head. With the right preparation and knowledge, you can avoid taking on that endeavor entirely. If you find yourself stuck with a timeshare, however, not all hope is lost. With the help of our Florida timeshare cancellation services, you can get your life—and finances—back on track in no time.