One frequently asked question is if a timeshare can be donated to charity. In some instances, charities do accept timeshare donations. However they accept only on the caveat that they must be able to convert that donation into cash by rent or resale in order to benefit. Charities would assume the same maintenance fees that the donor was obligated to pay. If a charity does accept your donation and tries to sell it, you would still have to keep it in your name and pay the maintenance fees until it is actually sold.
If the timeshare is sold within three years from the date of donation, the cash received then determines the income deduction on your taxes. If it remains unsold after these 36 months, a maximum of $5,000 can be deducted without an appraisal. If you truly want to help a charity, it would be much easier just to sell the timeshare on your own and then donate the money from your sale. The charity will get their money and be able to use the funds more quickly. It will also not appear as if you are just trying to pawn off your debt onto a charity!
If you have any further questions about this or anything else timeshare-related, please feel free to reach out to us here!