Donating Timeshares to Charity

Paying for a timeshare that you are not using is like wasting hard-earned money just like that. Many timeshare owners go through such situations as they buy a timeshare enthusiastically only to find out that they cannot enjoy it every year as planned. And end up paying for maintenance fees and other expenses without even enjoying vacations at their favorite condominiums. It is like paying for goods and services that are of no interest to you. If you too are stuck in similar situation and want to reduce the financial burden that comes with a timeshare, then donating timeshares to charity is the best option for you.

Advantages of Donating Timeshares

Given below are some of the most crucial benefits of donating timeshare weeks to a charity:

Social Service: Selling a timeshare which was an investment property will definitely earn you more money but not the satisfaction. If you genuinely want to donate something for your favorite charity then nothing can be better than a timeshare, as many organizations need timeshares for their fundraising activities.

Less Time-consuming: If you do not have time to sell or rent a timeshare then donating timeshares to a charity can save you a lot of time as it is a fast and easy process, especially if you donate timeshares online. Selling or renting the same is a tedious and time-consuming process that needs lot of your time, money, and energy.

Inexpensive Process: When you donate timeshare weeks you do not have to pay any upfront costs as most of the charities do not charge fees for many costly services, such as, advertising, legal advice, and commissions etc, that you have to pay when selling or renting a timeshare.

Tax Benefits: By donating timeshares to charity you can avail some tax benefits by asking for market value for your timeshares against your taxes. You may not save as much if you sold the timeshare yourself but after all it is a charity and you are still getting something in return!

Ownership: You can donate timeshare weeks for a particular period when you cannot utilize them but you can reclaim the same when you can make up for the vacations at your favorite holiday destinations. By selling a timeshare you would lose the complete ownership of the timeshare and cannot come back to the place where you shared some happy moments with your loved ones.

After going through the advantages I am sure you are tempted to donate your timeshare as soon as possible. To know how to do the same, read on...

How to Donate a Timeshare to Charity?

Following are the simple steps that would assist you in safe and successful transfer of your timeshare to a charity you trust in:

• First, you need to find out the right charitable organization that seeks timeshares as donations.
• Contact the organization you trust in or want to help and ask if they would accept timeshares as donations. It is advisable to donate to a non-profit organization as you may get more tax benefit.
• Consult the co-owners of the timeshare if you wish to donate an entire value of the timeshare to charity.
• Once you choose the trustworthy charity, make arrangements to handover all the legal documents and complete all the paperwork.
• It is suggested to consult your financial advisor, real estate agent or a legal expert so that you make a safe donation.
• You must check the contract and donation papers thoroughly before signing them.
• First, you will need to analyze all the documents of the deed and other contracts that are needed in order to donate a timeshare to a charity.
• You need to submit the photocopy or duplicate of all the legal documents to the charity. You must also ask for the value certificate of your timeshare from a charity. And your job is done!

This was a simple process that would help you donate a timeshare without much hassles. Donating timeshares to charity will reduce the unnecessary expense for an unused timeshare and would also provide you with piece of mind and satisfaction for contributing to a noble cause.