Florida timeshare owners are increasingly facing difficult questions about how to leave timeshare agreements and what happens to those properties after an owner dies, according to experts featured on a recent episode of WUSF’s Florida Matters Live & Local.
Florida remains the nation’s largest timeshare market, accounting for about 24% of U.S. resorts, many of them located near beaches and major tourist attractions, according to the American Resort Development Association.
Industry officials say concerns about inheritance and exit options have become more common in recent years. The timeshare industry has faced challenges since 2019, including the effects of the COVID-19 pandemic on travel and sales activity.
During the program, Jason Gamel, president and CEO of the American Resort Development Association, said owners who no longer want their timeshares may have options, including, in some cases, returning the property to a developer or allowing foreclosure if payments stop.
Experts also addressed a common misconception about inheritance. While heirs are often concerned about being forced to take ownership of an unwanted timeshare, legal experts note that beneficiaries generally have the ability to decline inherited property through established legal procedures.
The discussion highlighted the importance of estate planning and understanding the long-term financial obligations associated with timeshare ownership, including maintenance fees and other recurring costs that may continue after an owner’s death.
As Florida continues to attract millions of visitors each year, industry leaders encourage current and prospective timeshare owners to carefully review contract terms and inheritance implications before making long-term commitments.
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