Timeshare Donation FAQ
Have questions about Donate My Timeshare and the timeshare donation process? Get answers to all of your questions right here. Whether you are just gathering information on how to donate a timeshare to charity or need to learn how to move forward, see below to learn more. If you have more questions that you do not see here, simply call us at (855)781-1080. Our team is happy to help you at any time.
Can I donate my timeshare to charity?
Why should I donate my timeshare instead of selling?
Can I receive a tax write off for a donating a timeshare?
Can I receive a tax deduction for donating my timeshare if it is a right-to-use?
How can I determine the value of my timeshare donation?
How can I donate my timeshare?
How long does it take to donate my timeshare?
What will the charity do with my donation?
Do you guarantee that my timeshare will be transferred out of my name, and I will no longer be responsible for maintenance fees or other obligations?
How can I avoid timeshare scams while donating my timeshare?
How much does it cost to donate my timeshare?
Can I donate my timeshare with a mortgage?
What if my timeshare is not in the U.S.?
What should I do if I have questions about donating a timeshare?
Can I donate my timeshare to charity?
Yes, with DonateMyTimeshare.org you are able to donate your vacation ownership to a 501c(3) charity, Give Back Charities, Inc. Rather than going through the hassle of finding an organization and working through the paperwork yourself, we will do all the legwork. Our team will provide the expertise you need to quickly and easily to donate a timeshare to a charitable organization. All you have to do is complete a few simple steps. Learn more about how to donate a timeshare.
Why should I donate my timeshare instead of selling?
It is sometimes very hard to sell a timeshare. While some owners have been able to sell, typically the average timeshare owner spends $500-$3,000 advertising their timeshare for sale. The fact of the matter is, most timeshare resales do not sell for their original purchase price. In fact, many are listed for just $1. A timeshare can sit for a very long time on the market and may not even sell at all.
By donating your timeshare, you will be able to get out of your timeshare once and for all. The donation process is much simpler and faster than timeshare resale. Plus, there’s no guessing game. You don’t have to wait around hoping you could be done with your timeshare. You can finally be done with your timeshare for good – and for a good cause.
Can I receive a write off for a donating a timeshare?
You may be able to receive tax benefits from donating a timeshare. The IRS states that non-cash donations can be submitted for a tax write-off using Form 8283 for donations valued over $500. If your CPA or financial advisor determines the fair market value of your timeshare to be over $5,000 you will also need to submit an appraisal with your return. It should be noted that every situation and ownership is different. In order to determine if you can receive a tax write off from donating your timeshare, please consult your CPA, lawyer, or financial advisor.
Can I receive a tax deduction for donating my timeshare if it is a right-to-use?
At this time, only deeded timeshares may be eligible for tax benefits after a timeshare donation. This is because the IRS will only recognize a deeded timeshare as a real estate interest. Therefore, a right-to-use timeshare would not qualify for a tax deduction or write-off by donating the ownership.
How can I determine the value of my timeshare donation?
To determine the Fair Market Value (FMV) of your timeshare, you should speak with a CPA or financial advisor. If your advisor determines that your timeshare’s market value is over $500 and you would like to try to get a tax-write off, you must file Form 8283 with your return. You may need a professional timeshare appraisal if you are claiming the FMV to be over $5,000. It should be noted that the IRS states you may not claim your timeshare donation’s FMV to be over the original purchase price, unless you want to claim the gift as a capital gain.
How can I donate my timeshare?
Once you’ve decided to donate your timeshare property, the process is simple.
- Submit your information here or fill out the form above.
- Fill out our Consent and Donation Agreement or print the form and fax or send it via email to [email protected].
- Our closing company will contact you to sign the final documents and begin the donation process.
How long does it take to donate my timeshare?
The timeshare donation process takes about 90-120 days depending on your resort and location. Once the process is complete you will be notified in writing. You will also be provided with a receipt of your donation.
What will the charity do with my donation?
All timeshares are donated to Give Back Charities, Inc., a 501c(3) charity. Give Back Charities works to provide scholarships and awards for those in need who may not be able to qualify for other assistance. Once your timeshare is donated, the charity will take title to the deed. They will then use the timeshare to aid in their work, unless otherwise noted by the donor.
Do you guarantee that my timeshare will be transferred out of my name, and I will no longer be responsible for maintenance fees or other obligations?
Yes, if we determine that your timeshare qualifies for our donation process, once the process is complete you will be free and clear of the responsibilities of ownership. No more waiting around hoping that your timeshare will sell, as long as your timeshare can be accepted our service is guaranteed to relieve you of the obligations of vacation ownership.
That means you will no longer be responsible for yearly maintenance fees or any possible special assessment charges. If for some reason your timeshare cannot be accepted we will inform you during the beginning stages and repay any costs that you have incurred.
How can I avoid timeshare scams while donating my timeshare?
Donating your timeshare with DonateMyTimeshare.org is the safest way to part ways with your timeshare.
As you are not paying to donate your timeshare, you do not have to worry about being scammed. We will also provide you with a detailed contract that you may look over with your attorney or financial advisor before you sign.
How much does it cost to donate my timeshare?
There are no costs to donate. However, there may be costs associated with the closing and transfer of your ownership. The costs associated with a timeshare closing are dependent upon the resort and method of closing. There are also optional closing options such as title insurance that must be factored in as well. For questions regarding your particular ownership and how to donate your timeshare, please contact us.
Can I donate my timeshare with a mortgage?
A timeshare does need to be paid in full with the resort or resort’s lender in order to donate. Unfortunately, if a mortgage is still owed on your property, a charity will not be able to accept it as a gift. If you are able to pay off the reminder of your mortgage, you may be able to speak with our team to move forward.
What if my timeshare is not in the U.S.?
We commonly accept timeshares outside the U.S. in addition to resorts within the 50 states. We work with many timeshare resorts in Canada, Mexico, Caribbean, and other popular destinations. Some restrictions may apply based upon resort and there may be a limit to how many shares the charity can accept at a time. To see if your timeshare is one that can be accepted, please contact us.
What should I do if I have questions about donating a timeshare?
For questions regarding donating a timeshare, how to donate a timeshare, or just general information, please call us or simply email us at [email protected]. Whether you’ve decided to donate timeshare or are just looking into the donation process, we are happy to help you with any questions. There is also no obligation to submit your information; feel free to fill out the form on the upper right-hand corner of the page.