How to Donate a Westgate Timeshare
Westgate Timeshare owners that are not successful in transferring their use of rights interest or selling their timeshare have another options other than continuing to pay the fees and loan or electing for strategic foreclosure (a process where a property owner simply walks away from a property with a loan to default as a strategic means of getting rid of the property); Westgate Timeshare owners can donate their timeshare to charity and possibly get a tax break by doing so.
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Instructions
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Chose a charity to which you'll donate your Westgate Timeshare. Charities accept timeshares as donations in furthering their efforts to raise money for their cause(s). Each charity being considered should be researched to ensure they are using their donations in the appropriate manner and maximize their giving.
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Request the potential charity recipient to value the Westgate Timeshare donation. Recipient charities will evaluate the timeshare and provide a value of the donation; this value documentation will be necessary to append to your income taxes for a charitable donation deduction.
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Gather your deed and any other documents that were included during the purchase. Charities will need the deed and all pertinent documents drafted during the sale of the Westgate Timeshare to facilitate the donation.
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Donate your Westgate Timeshare to charity. The recipient charity accepting your Westgate Timeshare donation will provide you with all the necessary documentation to carry out the donation so the recipient charity can receive the donation legally and the donor can claim a legitimate charitable deduction on their personal income tax returns.
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Tips & Warnings
Include in your Westgate Timeshare donation an amount equal to listing with a timeshare brokerage if you were to sell it (brokerage fees range from $300 to $1,500) to bolster the donation and charitable tax deduction.
Charities will not accept donation of timeshares with outstanding loans.
References
Resources
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