- 1 Can I get out of a Hilton Grand Vacation timeshare?
- 2 How do I cancel my timeshare vacation club?
- 3 Who owns Hilton Grand Vacations?
- 4 How do I cancel a timeshare within 5 days?
- 5 Can you just walk away from a timeshare?
- 6 What happens if I stop paying my timeshare?
- 7 Can you refuse to inherit a timeshare?
- 8 Did Hilton Grand Vacations buy Diamond Resorts?
- 9 Who is the parent company of Diamond Resorts?
- 10 Is Diamond Resorts now Hilton?
- 11 How much do lawyers charge to get out of a timeshare?
- 12 What is the average cost to get out of a timeshare?
- 13 How can I legally get out of my timeshare?
The Hilton Grand Vacations Club does offer an exit program of its own. But like any developer exit program, it has specific criteria that owners must meet first to qualify. So in other words, even a paid-off timeshare is not quickly sold. And not many retain a substantial resale value.
Looking to Get Out of a Timeshare? Here’s How to Do It Legally
- Call the developer.
- Rent it out.
- Sell it on the resale market (expect to take a hit).
- Gift it to a friend, family member or stranger.
- Stop your payments (but expect consequences).
- Avoid scams.
Who owns Hilton Grand Vacations?
So, if you wish to cancel your resort timeshare purchase, you generally have a period of 5-15 days after purchase wherein you may legally rescind the contract. After the rescission period has expired, you can no longer cancel your purchase without penalty.
How To Cancel Timeshare Within 5 Days
- Cancel a timeshare contract in writing. Though some resort developers may not require a written document, it is best to still follow the same to guarantee cancellation within 5 days.
- State carefully the reason for writing.
- Delivery of cancellation letter is also of importance.
You can’t just walk away from a timeshare. If you don’t stay current on your maintenance fees or your loan payment, the timeshare company or timeshare association could report you to a collection agency and ding your credit score.
If you stop paying on your timeshare loan, you face foreclosure. Foreclosure is the process whereby the lender files to take possession of the property and sell it at auction to recover the money you owe. Your contract authorizes the trustee to sell the timeshare in the event you stop paying on it.
If you are either left a timeshare in a will or are the legal heir of someone who owned a timeshare and died without a will, you may choose to refuse to accept your inheritance. In legal terms, this is generally called “ renunciation of property.”
Did Hilton Grand Vacations buy Diamond Resorts?
(Aug. 2, 2021) – Hilton Grand Vacations Inc. (NYSE:HGV) (“HGV” or the “Company”) announced today that it has completed the previously announced acquisition of Diamond Resorts International, Inc. (“Diamond”) from funds managed by affiliates of Apollo Global Management, Inc.
Who is the parent company of Diamond Resorts?
Hilton Grand Vacations Inc. (HGV) has completed the previously announced acquisition of Diamond Resorts International Inc.
Is Diamond Resorts now Hilton?
Hilton Grand Vacations has completed the previously announced acquisition of Diamond Resorts International, creating the largest upper upscale and luxury timeshare operator in a stock-based transaction with an equity value of approximately $1.4 billion, according to a press release from Hilton Grand Vacations.
On average, the cost of professional cancellation services is around $4,000. This typically gets you a team that will work with your timeshare company on a settlement or manages the resale process for you.
Costs to Get Out of a Timeshare On average, it costs about $5,000 to $6,000 and takes 12–18 months to get out of your timeshare contract using a timeshare exit company. But the cost and the timeframe can vary depending on a number of factors including, how many contracts are attached to your timeshare.
Getting out of a timeshare The main way to get out of a timeshare is to sell it. To do this you’ll have to make sure all fees are paid. However, timeshares can be very hard to sell. Most people make a loss when they sell them.