If you have received a timeshare property via ancestral inheritance, you might not be interested in it and may be looking to reject or disinherit it. Well, you cannot be blamed for this. Several money experts call timeshares – a defective products. They further add that as soon as you sign a timeshare contract, the ownership value drops to zero the next day.
Why? Mainly because there are absolutely no buyers for it.
The same goes for timeshare inheritance as well. If the property has been a part of your family for some time now and you will take maximum benefits out of it, you may not want to associate yourself with so many expenses by inheriting one.
Timeshare Compliance: Legally Refuse Your Timeshare Inheritance
This article will teach you how to disclaim a timeshare inheritance. You need to remember that the disclaiming process may differ from state to state. If you read the timeshare compliance reviews, you will know that you need to check all the laws and regulations of your area. But speaking generally, the overall process is supposed to be similar. Here are some critical tips on Timeshare Compliance that can help you legally refuse timeshare inheritance.
Act Quickly
Firstly, you must drag your feet quickly out of the situation if you inherit a timeshare property you do not want. In several states of America, you have 6 to 9 months to refuse your timeshare inheritance. It seems easy, right?
Well, no! Like if you are below the age of 21 when you inherited the property, you have 6 to 9 months to reject the inheritance. But if there are no options left, fret not, you can take the assistance of Timeshare Compliance, as they will quickly get the rejection process for your timeshare inheritance.
In addition, several Timeshare Compliance reviews suggest all the timeshare successors to not use the property and reject any compensation from the resort during the inheritance rejection period. It will void your right to refuse the inheritance.
Do Not Use the Timeshare Property
If you want to refuse your timeshare inheritance, this step is crucial. The timeshare cancellation company – Timeshare Compliance, says it will void your right to refuse the inheritance. Whatever you do, never use or even visit the property. If you do either of these, that will be seen as your acceptance of the property, and you will not be able to refuse it that easily.
Gather the Timeshare’s Documents
Once you have decided to reject the timeshare inheritance, you will need to gather the crucial documents related to the timeshare. According to Timeshare Compliance reviews, these documents mainly include:
- A property description. If you do not possess it, you can get your hands on it from the estate executor.
- A renunciation declaration statement along with its extension. In this case, you’ll have to relinquish the timeshare ownership forever.
- Your name and signature.
Gather all these documents as soon as possible.
Send Renunciation Certificates to the Respective Parties through Mail
Taking the advice of Timeshare Compliance, you should take your next step by getting multiple copies of the renunciation certificate printed. You should keep a copy of this certificate to yourself. Timeshare Compliance will send another copy of this certificate to the estate executor and a copy to the timeshare company through physical mail.
Send the Copy Renunciation Certificates to the Probate Court
Finally, Timeshare Compliance will send a copy of the renunciation certificate to the probate court of the location where your timeshare property is located. This will act as an official renunciation record if it is ever questioned.
Final Thoughts Legally Refuse Your Timeshare Inheritance
Refusing your timeshare inheritance is a small task to execute. All you need to do is to complete your renunciation process within the right time. So, you do not have to encounter any hassle. If you do not want to be involved in such issues, you should inform your parents well in advance that you are not interested in a timeshare property. It will allow them to bestow it to someone else.
