Timeshare owners get the most value out of their timeshare ownership experience when they use it regularly However, if you no longer use your timeshare or can no longer afford it, it might make sense to explore your exit options, starting with a takeback program.
Most major timeshare companies offer timeshare take-back programs. A timeshare take-back program provides owners with a way to return their timeshare product to the developer or the resort itself.
Utilizing a timeshare company’s take-back program is the most direct way to exit a timeshare, as this process does not involve third-party timeshare exit companies or timeshare resale companies.
Let’s take a closer look at the take-back process.
- Step 1: Know where you stand with your timeshare. To qualify for a timeshare take-back program, owners typically must be current with their maintenance fees, have no active loan on the timeshare, and meet whatever other qualifications are necessary to be part of the program.
- Step 2: Contact the resort or developer to inquire about take-back options.
- Step 3: If you qualify and are accepted into the program, complete the paperwork and finalize the exit process.
If your timeshare company is unable to help, your exchange company – likely either RCI or Interval International – may be able to connect you to your Homeowners’ Association (HOA), as well as provide additional information that can help inform your decision to exit, including continued usage options.
Our advice:
Following the steps above will make participating in a take-back program a smooth process. This is an option worth exploring when you are ready to exit your timeshare.