Previously, we warned readers about the dangers of buying $1 timeshares or paying a service to try and sell it.
Though they're designed for a lifetime and hard to get rid of, there are a few ways to go about ditching a timeshare, says Ilyce Glink, real estate expert with ThinkGlink.com.
Here are four of her strategies:
Solicit buyers the old-fashioned way. "In talking to readers, I've found the best way to offload a timeshare is to find someone who's already rented there. You know they enjoy the community and may have others who want to join them." Likewise, try putting an ad in a community circular or distribute fliers to slip under doors in the building.
Post ads online or hire a traditional broker. The latter option is trickier since there's practically NO market for timeshares these days, but you can list them on sites like Zillow or eBay.
Donate it to charity. You'll get a tax write-off for its estimated value, Glink says, though charities aren't always quick to accept timeshares.
Inherited a timeshare? Don't take it. "Just because you inherited it doesn't mean you're obligated to take it," says Glink. "Tell the executor of the estate that you refuse to accept it so it's not your burden. Typically, they just go into the ether. It'll remain an unclaimed property."
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