How to Donate a Timeshare Property
Timeshares are sometimes referred to as fractional home ownerships. This is because when you own a timeshare, what you own is weekly furnished rental accommodations, usually for a set period of time each year. If you have a timeshare property that you no longer want or use, you can donate it to charity instead of continuing to pay maintenance fees on something that you are not using. There are not a lot of charities that accept timeshares, but there are organizations that can help you get it to a charity that does accept timeshares.
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Instructions
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Assess the fair market value of your timeshare by using the TRI West Timeshare Bluebook website (see Resources). You can also check for local listings of similar timeshares to see what they are selling for to help you come up with the fair market value of your timeshare. If you end up with a range of different values, you can take the average of them.
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Make sure that you are not behind on your timeshare maintenance fees and that you do not owe anything on the property. Charities typically do not accept timeshare donations unless you are current on the property and do not owe any back fees.
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Use a middleman organization, such as Donate For A Cause, to donate your timeshare to a charity. A limited number of charities accept timeshare donations, and an organization like Donate For A Cause can give you access to a list of those charities.
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Sign over the ownership deed for the timeshare when you make your donation. This transfers the property from you to the charity. You will be given a donation receipt when you do this.
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Tips & Warnings
If the fair market value of the timeshare is over $5,000, you need to have a certified appraisal for your tax records. This is something that you have to pay for yourself.
