Oct 9, 2011

Ok, let’s face it. Donations! The long and the short of it. It is not a pretty picture if you think you can get rid of your hard -to -sell timeshare on the resale market.

1. First off, the timeshare must be paid for.

2. The charities most likely will not take any title given to your units. They will wait until they sell the timeshare and ask you for the title; in the meantime you continue to still pay all fees.

3. The charity wants cash.

4. That’s what you want, right?

5. If you paid $14,000 for your timeshare property, and in a fast sale
situation the charity can only get $500, that is all you can write off. The IRS will not
allow you to write off $13,500. Look at the IRS rules and regulations here.

Note: The bottom line is – not all charities are fond of timeshare vacation properties and will probably not accept them. If the timeshare units are paid for, why not continue to use them yourselves or allow relatives or friends to enjoy them?

Recommended Reading

• timeshares, buying, selling, deeded vs points
• A Reader's Question About Donating A Timeshare Property!
• Ellsworth, Maine to foreclose on dozens of timeshare properties.