When you have purchased a timeshare and you are having second thoughts, it is not uncommon to consider giving away your timeshare. Here is how to give away a timeshare.
Why do you want to give away a timeshare?
The first thing to consider is why you want to give away a timeshare. Why not sell it, rent it or lend it? You may have your reasons, but before deciding to give away a timeshare, you might consider selling it, lending it to friends or even renting it.
Sell, rent or lend - don’t give away a timeshare
Selling a timeshare in today’s market is not always a great idea. You will get very little return on your investment and will be vulnerable to a timeshare resale scam. Most people want to buy a timeshare membership directly from the developer to avoid unnecessary scams.
Lending your timeshare rather than give it away is another option. You can lend to friends and family, asking them to cover the cost of your maintenance fees. Renting your timeshare is also a way to make some money, although you should take care not to fall foul of a rental scam. Use legitimate websites to rent your timeshare.
Donate your timeshare
Some people choose to donate their timeshare rather than give it away to a private owner. This is an option, although you might find that most charities will not accept this kind of gift. However, if you have already paid for your timeshare in full, you might choose to donate weekly intervals for charities to raffle in order to raise money. That way, you are donating vacation weeks rather than the full timeshare membership.
Cancel your timeshare
The above mentioned options are all possible alternatives to cancelling your timeshare after the rescission period has passed. Remember, you cannot cancel a timeshare once the cooling off period has terminated