Strange question

[StitchBuddy]

We are ing into DVC, trying to make final decison out resort. We will be 80 yrs old in 2042, and 95 years old 2057 or maybe we will have passed away by then.. I don't think I will want to go at that age, but would want to pass it to my DD. My question is what if my DD doesn't want it, maybe she won't be able to afford it, who knows. Will she have to resale it or just pass it back to Disney?

 

[dsnydaddy]

depends upon when you are handing the property over. As the contract expiration nears, my guess is that the value of them will drop. There's nothing Disney can do to bolster them at that time other than extending their expirations. Who will pay even $60 pp for a contract that will expire in a few years. If your Daughter couldn't afford it and selling isn't a possibility then giving over to Disney is probably the only option.

 

[supersnoop]

This is actually one of the few ways to get out of a worthless timeshare. A person doesn't have to accept an item left to them in a will, and, in the case of a timeshare, ownership would revert to the resort.

However, in the case of Disney, the timeshare will likely still have some value. Accepting it and then selling it would probably still make sense.

 

[jerseyduke]

I do not see how it could harm your DD.

First of all, it will only be maintenance fees she will have to pay.

Secondly, it will have some value on a resale market, even if only 3 years left on the contract, it should still be worth 10$ per point(adjust for time).

I think plenty of people would pay 10 per point today for a contract that was loaded for the next three years and then expired; they would still save something.

 

[bumbershoot]

I bet there's some way to just "give" it back to Disney. It's what we did with FIL's timeshare, because no one could afford the dues that were coming up in one month. It was sad because we wanted the timeshare, but it was too quick.

Perhaps you could set aside money for the dues that she could get to give her some time to think about it? Would have been lovely if FIL had done that, but sadly he left nothing but an RV with a loan but the RV didn't work, debt, and the timeshare that no one could afford. Sigh.

 

[newfangled]

My dad's mantra is "let the last check to the undertaker bounce". Really I expect nothing, but he does love toys and has no debt so I'm pretty sure some things will be passed down....but it's just stuff. Enjoy the time with your family while they can perhaps go to Disney WITH YOU and don't worry about afterwards. If they end up with a few years of DVC for the cost of maintenance fees that would be a nice gift in itself.

My vote is to pick the resort YOU love best and enjoy what you've earned.

 

[StitchBuddy]

Thanks for your replies!! We are trying to decide between Animal Kingdom and Saratoga Springs. My Dh and DD want Animal Kingdom, but I'm cheap and think SS is the cheapest.

 

[Dean]

This is actually one of the few ways to get out of a worthless timeshare. A person doesn't have to accept an item left to them in a will, and, in the case of a timeshare, ownership would revert to the resort.

However, in the case of Disney, the timeshare will likely still have some value. Accepting it and then selling it would probably still make sense.

No one has to take an inheritance but technically the estate would remain on the hook in perpetuity. I'm told that the executor can petition the courts to remove it from the estate and that it's not uncommon they would do so after a years or more of trying to get rid of it. The probate could not be completed during that time is what I'm told. One can try to sell or even give it away or try to do a deed back to the resort.

Thanks for your replies!! We are trying to decide between Animal Kingdom and Saratoga Springs. My Dh and DD want Animal Kingdom, but I'm cheap and think SS is the cheapest.

IMO, in the absence of a specific plan that relies heavily on using AKV concierge, 3 BR or value rooms, SSR would be the best by far. Getting Kidani savannah or standard has not been an issue. AKV will likely cost you about 25% more long term for the same number of points with no additional benefits other than the specialty items above and with more Maint fee risk long term.

 

[a742246]

Thanks for your replies!! We are trying to decide between Animal Kingdom and Saratoga Springs. My Dh and DD want Animal Kingdom, but I'm cheap and think SS is the cheapest.

Have you visited each resort? If not, I would try renting someone's points and visit the resorts first.